Economic recovery and the cultural tourist

With qualified and compiled real-time transactions, American Express data is able to analyze very specific customer profiles. Mrs. Beverly Anderson, vice president of the company, presented some very pertinent information on the American cultural tourists at the event ONE Travel Conference, held in Pasadena, California January 16 to 18, 2011. 

Although the following lines refer to the American traveler, it is interesting to understand how it behaves and it is certainly possible to draw parallels with cultural tourists in general. In addition, this analysis provides a glimpse of what American Express Business Insights can provide such information to other markets or other purposes. 

Recovery and emergence of new patterns 

Compared to other categories of expenditure (current, retail or catering), the trip was the most affected by the economic crisis sector, but it also seems to suffer the largest recovery. Expenses related to entertainment have also undergone major changes, says Anderson. 

In more detail, the travel industry is that the fastest growth (10%) from January to September 2010, followed by retail (3%) and entertainment (1%). The restaurant industry in the United States has not yet resumed the upward trend since the recession (-4%). 

Anderson shares his thoughts about the particular change in purchasing behavior in regard to the consumption of goods and luxury services. 

     Consumers looking for good opportunities and new types of buyers invest in this market. The percentage of individuals with luxury goods is larger, even if it is only on rare occasions. 

     Online merchants have quickly recovered from the recession and recorded an increase of 85% in Q3 2010 compared to the same period in 2009. 

     The notion of value is even more important. Consumers seeking "the best" for their money. 

     Basic needs are redefined: smart phones and service plans are now included. They increased by 15% since the start of the recession. 

     Generations have evolved differently during the crisis and do not resume their consumption activities unabated. 

Which is the cultural tourist? 

Data compiled by American Express used to define the cultural tourist as follows: an individual who, in the same month, made ​​an expenditure in the restaurant in a place other than his residence AND another with an airline, a hotel or a car rental company. Added to this definition the condition of having a transaction in a non-local cultural business. 

Source: 2010 American Express Travel Related Services Company Inc. 

This segmentation reveals large gaps between travel behavior and that cultural tourists of all leisure travelers. Indeed, the average number of flights per year by cultural tourists than twice that of leisure tourists; it is the same for food expenses and shopping. The average hotel room price is also significantly higher

source : http://veilletourisme.ca/2011/02/16/la-reprise-economique-et-le-touriste-culturel-compte-rendu-de-conference/