LAS VEGAS, NV — (Marketwire) — 12/11/12 — GREENWAY TECHNOLOGY (the “Company”) (PINKSHEETS: GWYT) today announced the Company intends to direct resources into launching a Social Media Network and building specific APPS to service the global Gay travel sector. A recent survey reveals three quarters of U.S. travelers share Trip Experiences on Social Networks and 42 percent use Social Media for Travel Planning and 40 Percent for Travel Inspiration. The numbers are higher for the global Gay community. The findings reveal a strong correlation between social media and travel, as large percentages share travel experiences via social networks.
The Company believes that GWYT-s Social Network can grow along with the strength of Gay travel spending. The Gay industry based on the Department of Commerce tourism statistics, estimates that Gay tourism generates more than $65 billion a year in the U.S. alone. Overall, the Gay community reported more trips in the past 12 months, while travel had been down in the past two years. Gay men took an average of more than three leisure trips in the past year. That old saying anti-gay, stay away? Not always. Only about one third of Gay men and lesbians avoid destinations with anti-gay laws. Additionally, passports are prized possessions. In the U.S., 85% of gay men and 77% of lesbians own a passport. International travel is more popular among Gay men than lesbians, though, with 54% of Gay men surveyed reporting that they used their passports in the past year.
GWYT is interested in creating the Travel APP for Gay Social Networks based on the fact that direct purchases are preferred. The majority of Gay and lesbian travelers (64.5% of gay men and 58.8% of lesbians) purchased their vacations directly from suppliers (airline, hotel, etc) via a website. Warm weather is a motivator and Gay Honeymoons are a factor for another huge increase in the sector.
New York City has retained its position as the #1 leisure (as well as business/leisure combined) destination and in fact this year saw a slight increase over the traditional #2 and #3 spots of San Francisco and Las Vegas. Miami saw significant gains, and is back in the top 10 of USA destinations after being out of the combined leisure/business category since 2006. Also in the top 20: Ft. Lauderdale, Seattle, New Orleans, Napa and Provincetown. In Europe, the top destination is England; in Canada, it-s Montreal; in Mexico, Puerto Vallarta.
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Matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on various assumptions and involve substantial risks and uncertainties, including, without limitation, those relating to our ability to acquire resort properties, rehabilitate the same to the extent necessary and obtain financing necessary to do so, as well as many other factors which may or may not be beyond our control.
Greenway Technology
Bernard A. Fried
(702) 605-4301
Investor Relations
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