Although the source should be taken with a grain of salt, destinations and brands that tap into this branding power are sure to see the benefits.
The global potential value of the lesbian, gay, bisexual, and transgender (LGBT) leisure travel market is expected to reach a record $181 billion in 2013, announced a LGBT marketing specialist Out Now Global at this week’s World Travel Market.
The data released as part of Out Now’s LGBT2020 market research study reports that the potential value of LGBT travelers is set to increase 9.7 percent over 2012. Europe is the most lucrative market for travel companies looking to target LGBT travelers as the total value reaches $58.3 billion. The U.S., Brazil, and Japan represent the highest potential markets for individual nations.
Could it be that an unexpected impact of President Obama’s reelection is an increase in LGBT leisure travel in the U.S. travel industry? It could be argued that the legalization of same-sex marriage is creating a culture that is more accepting of same-sex couples and an atmosphere where it is more enjoyable to travel.
It’s critical to note that Out Now offers B2B training resources for travel industry stakeholders, sponsors a global certified program for travel businesses, and publishes a newsletter with LGBT travel deals. These invested interests may impact survey results.