Global LGBT Market Expands -- Now Valued at USD$211 Billion Annually
-- Latest global LGBT travel market valuation released at WTM
LONDON, UK - November 8, 2016 / OUTNOW / -- The global value of
the lesbian, gay, bisexual and transgender travel market has
continued to grow and is now worth over USD$211 billion in LGBT
consumer spending per year, reveals research released at WTM London
today (Tuesday 8 November).
New international research undertaken in 2016 from the LGBT2030
program by specialist consulting firm Out Now reveals continuing
expansion in key LGBT markets across the world.
Ian Johnson, Chief Executive Officer of Out Now, presented the
findings at the LGBT Masterclass education workshop at World Travel
Market, London.
"The global LGBT market continues to be one of healthy growth and opportunities for a growing number of travel industry participants," Johnson says. "However the LGBT consumer market continues to raise its expectations and there is much work to be done by the industry in the areas of communications improvements, strategy development, training and quality assurance for LGBT travellers. LGBT people expect the same level of welcome and respect as all people do when they travel. The new 2016 valuations of this market show that targeting LGBT customers is not only the right thing to do - it is also smart business."
The latest data from Out Now's LGBT2030 global research program shows an annual average growth rate for each of the past three years of 2.0% per year. Two markets - Italy and Argentina - experienced negative growth in LGBT travel consumer spend during this period.
|
COUNTRY |
(USD$bn) 2016 |
AV ANN. GROWTH RATE |
|
|
USA |
60.8 |
2.5 |
|
|
Brazil |
26.4 |
1.4 |
|
|
Japan |
20.4 |
1.1 |
|
|
Mexico |
10.7 |
2.3 |
|
|
Germany |
13.3 |
1.1 |
|
|
Turkey |
6.2 |
3.4 |
|
|
France |
11.2 |
0.6 |
|
|
UK |
11.3 |
2.5 |
|
|
Italy |
9.0 |
-0.4 |
|
|
Spain |
6.8 |
0.6 |
|
|
Colombia |
4.9 |
4.7 |
|
|
Argentina |
4.2 |
-0.2 |
|
|
Poland |
4.4 |
2.7 |
|
|
Canada |
6.9 |
2.2 |
|
|
Australia |
6.5 |
2.3 |
|
|
Netherlands |
2.9 |
0.4 |
|
|
Israel |
1.3 |
2.8 |
|
|
India (part) |
4.1 |
5.7 |
|
|
|
USD$211BN | ||
The LGBT2030 data is sourced from consumer responses from a research panel of over 130,000 participants.
The data above reflects responses received in 2016 from respondents in each of the 18 listed countries - being the most viable and accessible LGBT markets for the global travel industry. It shows total spend on travel by LGBT people living in each country listed. (India includes only those with internet access.)
-ends-