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Global LGBT Market is Growing
Every year the global value of the LGBT (lesbian, gay, bisexual and transgender) market keeps growing. Nowadays, the value is already USD$211 billion according to the data published by WMT London, and this digit cannot fail to attract major hotel chains. Experts from consulting firm Out Now underline that this is one of healthiest markets and key destinations will continue their growth around the world.
Even though the market value is already a significant one, much work must be done in the area to assure that LGBT consumers get same level of service. This implies staff training, strategy development, and improvements in communication. Some steps have already been made in this field. For example, Out Now and their partners have launched a special certification program for travel agents who want to serve LGBT customers better and, consequently, increase their sales from this category of tourists. Together with TravelMarketReport website they are going to certify more than 20,000 travel agents around the world. The LearnLGBT program was already available for participants of World Travel Market London. The training helps travel agencies know more about peculiarities of LGBT travel, and help customers book vacations and make their travel plans.
According to LGBT2030 global research program, the average growth of this segment is 2.0% a year. However, two markets, namely Argentina and Italy, experience declines in the number of LGBT travelers.
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