Global LGBT travel market worth US$211bn per year
New research has revealed the global lesbian, gay, bisexual and transgender travel market is now worth over US$211 billion in consumer spending per year.
The new international research was undertaken in 2016 by specialist consulting firm Out Now as part of the LGBT2030 programme, and reveals continuing expansion in key LGBT markets across the world.
Ian Johnson, chief executive officer of Out Now, presented the findings during a workshop at the recent World Travel Market, London trade event.
“The global LGBT market continues to be one of healthy growth and opportunities for a growing number of travel industry participants,” he said. “However the LGBT consumer market continues to raise its expectations and there is much work to be done by the industry in the areas of communications improvements, strategy development, training and quality assurance for LGBT travellers.
“LGBT people expect the same level of welcome and respect as all people do when they travel. The new 2016 valuations of this market show that targeting LGBT customers is not only the right thing to do – it is also smart business.”
The latest data from Out Now’s LGBT2030 global research programme shows an annual average growth rate for each of the past three years of 2.0% per year.
Two markets – Italy and Argentina – experienced negative growth in LGBT travel consumer spend during this period.
|COUNTRY||VALUE (US$bn) 2016||AV. ANNUAL GROWTH RATE (%)|
| India (part)
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, which are 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).
Johnson also announced the launch of a new global training and certification programme for travel agents wanting to increase their sales from LGBT tourism. The new programme sees Out Now partnering with leading US-based tourism website TravelMarketReport.com to help train and certify more than 20,000 travel agents in North America and markets across the world.