Wine Industry Statistics & Growth Data From Google Travel
Michael Thomas, Principal Analytical Lead at Google Travel spoke at the Wine Tourism & Marketing Conference about Macro trends in travel for the wine industry. Here are some data points that we found interesting.
The overall travel industry is a $1.6 Trillion industry. And yet, only 44% of the revenue happens online. This means that there’s a huge growth opportunity, still, for online booking companies, event companies, etc. This is especially true for emerging geographic regions and new ‘things to do’ industry segments.
Evolving Demand – tourism activities segment is one of the fastest growing areas. Growth in the tourism activities is expected to grow from 2017 $140 billion to 2020 $178 billion. The growth will come from more demand for travel related experiences being booked along a trip. For every $1 spent on hotels and flights, people spend $3 on experiences, says Google. 78% of millennials want to spend their money on an experience rather than buy a ‘thing’ and take it home, according to Google data.
Looking at trends from Google Travel – Wine consumption is up about 2% annually for the past few decades. Wine growth per resident is up 3%. Wine consumption is slowly outpacing population growth.
Wine tours search growth is about 7%. Wine delivery search growth is increasing by 18% per year. Channels for delivery is important to consider, especially wine delivery, as that may be a strong segment that sees growth over the next decade.
“Wineries near me” is one of the fastest growing segments of keywords in the winery space. Scott Fish mentioned this in his presentation at the conference called Ok, Google, take me to the closest winery. (read more about Voice Search Optimization & Position 0 Optimization)