DOMESTIC TOURISM IMPORTANCE AND ECONOMIC IMPACT

April 19, 2019

While countries often tend to focus on international tourism due to the revenue earned through exports, domestic tourism remains the leading form of tourism, representing an important tool for regional economic growth and development. With over 50% of the global population now categorised as “middle class” or “rich”, more and more people can afford to travel. Research suggests that domestic tourism demand picks up at an income level of about US$35,000, while international travel takes off at around US$50,0001 .

Spotlight

Highgate

Highgate is a premier hospitality investment and management company widely recognized as an innovator in the industry. Highgate is the dominant player in U.S. gateway markets including New York, Boston, Miami, San Francisco, and Honolulu. Highgate also has an expanding presence in key European markets through properties in London, and Barcelona. The company provides expert guidance through all stages of the hospitality property cycle, from planning and development through recapitalization or disposition. Highgate also has a proven record of developing bespoke hotel brands and utilizes industry-leading proprietary revenue management tools that identify and predict evolving market dynamics to drive outperformance and maximize asset value. With an executive team consisting of some of the industry's most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands. Highgate maintains corporate offices in New York, London, Dallas, Lo

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