What is the projected spending of the LGBT market on travel by 2014?

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The LGBT market is projected to spend US$200 billion on travel-related expenses by 2014.

A new report indicates that the lesbian, gay, bisexual, and transgendered (LGBT) market is anticipated to spend US$200 billion on travel-related expenses by 2014. This figure is based on research presented at the World Travel Market in London, which also estimated the top 20 gay and lesbian markets to be collectively worth $202 billion in the same year.
Top Spending Markets Identified

The United States is projected to be the largest contributor to this spending, with an estimated US$56.5 billion from LGBT travelers. Brazil is expected to follow as the second-largest market, with an anticipated spending of US$25.3 billion.
Increased Spending by LGBT Travelers

The LGBT market is characterized by a higher propensity to spend on vacations, with reports suggesting they spend an average of 57% more than their heterosexual counterparts. This elevated spending is attributed to several factors, including a greater frequency of travel, ownership of more homes and cars, and higher expenditures on items like electronics.
Targeting Gay Newlyweds

With recent legal advancements, such as France and California legalizing gay marriage, the tourism industry is actively targeting gay newlyweds. This demographic is recognized as an affluent segment, presenting a significant opportunity for hotels and tourism offices to capitalize on their spending power.

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What is the projected spending of the LGBT market on travel by 2014?

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