CONJUNCTURE OF THE INTERNATIONAL TOURIST MARKET AND FACTORS OF ITS FORMATION

Abstract

The article is devoted to the study of the role and significance of the international tourist market in the world economy, assessment of its conditions and determinants of the main factors of its formation and development. It is shown that global growth of the world economy in the last decade has strengthened the international tourist market: the tourism industry is growing for the eighth years in a row, and in 2018 this growth was 3.9%. The growth rate of the tourist industry in 2018 was more than twice as high as in the IT sector (+1.7%), exceeded the growth rate of the world economy (3.2%) and the growth rates of key sectors such as healthcare (+3.1%), financial services (+1.7%). Authors conducted the marketing analysis of the structure of the international tourism market in the main macro regions of the world and determined that in recent years, Africa (+ 7%), Asia-Pacific and Europe (both at around + 6%) dominate in relative terms. There is an annual decline in Europe's share in international tourism due to the conditional “aging” of the tourist product of a number of countries in this continent. The young tourism industry in the Asia-Pacific region is growing at a high pace, attracting international tourists with its unique nature, pleasant climate, numerous architectural monuments and religious objects. It is noted that on the international tourist market consolidation in the segment of “consumers of new impressions” is expected, which was formed as a dominant of such tourist motives as the desire to “change and show the journey”, “the desire for healthy options”, in particular, walking, health and sport tourism, and “multigenerational travel”. In addition to the mentioned market conditions, the development of the international tourism market will be influenced by the dominance of the digital sector, the creation of new business models in the tourism sector, the economic availability of travel for tourists, and the formation of human-oriented economies in most donor countries in the tourist market. Taking into account the influence of the complex of all market conditions on the functioning of the international tourist market, destination countries, travel companies and companies from related sectors need to be carefully adapted to maintain their competitiveness.