Travel and Tourism in A Fast-Changing World: New Trends for 2014

Travel and Tourism in A Fast-Changing World: New Trends for 2014 
Euromonitor's WTM global trends report identifies emerging travel and
tourism trends 
CHICAGO, ILLINOIS -- (Marketwired) -- 11/04/13 -- Euromonitor
International released today the 2013 World Travel Market Global
Trends Report at World Travel Market (WTM), the leading event for
travel and tourism globally. The report, produced for the eighth year
running by Euromonitor, presents the nine key emerging travel and
tourism trends in the world, looking at how the industry is
developing in a rapidly changing global economic and social
environment.  
The report identifies the key tourism trends set to shape the travel
and tourism industry in seven regions and two core strategies:  


 
Americas                 PANKS - A New Demographic                          
                                                                            
UK                       Travel Happiness Index                             
                                                                            
Europe                   Next Generation Peer-to-Peer Travel                
                                                                            
Middle East              Low-Cost Goes Upmarket                             
                                                                            
Africa                   The Big Five with Your Little One                  
                                                                            
Asia                     Fight for Cruise Control in China                  
                                                                            
India                    The Travel Social Shake-Up                         
                                                                            
Travel Technology        Mobile Concierge                                   
                                                                            
Global Village           Vacancy on Demand - Chasing the 24-hour Traveller  

 
Americas: PANKS - A new Demographic  
The US travel industry is targeting PANKs - 'Professional Aunt, No
Kids' - who collectively spend billions on travelling with nieces and
nephews. As of 2010, just over 42% of women in the US aged 15 to 44
were childless, as women have children later in life or choose not to
have children at all. Travel firms aware of the power of PANKs'
spending can tap into this lucrative, expanding market.  
UK: Travel Happiness Index  
Brits are leading the way in Europe to find happiness above the
clouds, or at least on board their flights. US-based flight
meta-search website, Routehappy.com, is leading this quest for
contentment. Launched in April 2013, it provides a unique measurement
of customer satisfaction via its 'happiness scores' for airlines,
helping consumers select flights based on comfort and suitability.
With more than 100,000 unique visitors at launch and over 30% of
visitors returning in July 2013, the site is a unique offering with
the UK as its leading European source of demand. Airlines are working
hard to move away from air travel being a commoditised, price and
schedule-only decision. It is to be seen if other transportation
modes, as well as hotels and travel retail players, will follow this
model in future. 
Europe: Next Generation Peer-to-Peer Travel  
Europe continues to struggle with low GDP growth. As Europeans seek
cheaper travel options to counteract continued austerity, the sharing
economy offers opportunities at lower prices than ever before. The
range of accommodation is very diverse, thanks to the growth of
brands such as Airbnb, HouseTrip and HomeAway. TripAdvisor has
embraced the concept by acquiring Flipkey, as well as listing
HouseTrip and Airbnb as trusted partners for rentals. Tours, guiding
and unique travel experiences are offered by sites such as
Touristlink and Vayable. Car sharing services are also growing in
Europe, where Avis bought car-sharing company Zipcar for US$500
million in 2013, while Blablacar.com had more than three million
members in 10 European countries. The future of peer-to-peer holiday
rentals depends on legislation, but is proving successful and is
expected to grow. 
Middle East: Low-Cost Goes Upmarket  
Middle East travellers with a taste for the high life are seeing a
few more frills on their budget airlines. Consumers in the region
have a penchant for luxury. However, a surprising twist is the
introduction of luxury services aboard low-cost carriers. Jazeera
Airways was the first to introduce a business class in 2009, whilst
keeping lower prices and achieving profitability. In 2013, Flydubai
is following suit with its new business class services. Will this
hybrid model expand to low cost airlines in other regions? The
Flydubai experience will show us how sustainable the model really is. 
Africa: The Big Five with Your Little One  
Child-friendly safaris in Africa are becoming more popular, as more
grandparents and children join in with family holidays. Hollywood
hits such as Madagascar and the Lion King mean that kids around the
world now want to see the 'big five' for real. Previously, safaris
have been considered unsuitable for youngsters but safaris in Africa
now avoid long game drives - which suits kids' shorter attention
spans. Multi-generational holidays in Africa could expand beyond
safaris to volunteerism and more sustainable holidays, as well as
cruises.  
Asia: Fight for Cruise Control in China  
It's full steam ahead for the Chinese cruise market, which is on
course to become the second largest global cruise market after the US
by 2017. Cruising in China is still in its infancy, yet it is
registering buoyant growth. Royal Caribbean said its Chinese
passengers quadrupled from 25,000 to 100,000 between 2011 and 2012,
with numbers predicted to reach 200,000 in 2013. The Chinese
government has also spotted cruising's potential and declared 2013 as
Marine Tourism Year, with the latest five-year plan dictating that
cruising is an industry with exciting growth potential. 
India: the Travel Social Shake-Up  
Only 12% of the Indian population is online yet Facebook claims to
have 82 million users in the country, making India its third largest
global market after the US and Brazil. India's online travel agencies
are prioritising social media to woo young urban consumers. The
Indian Ministry of Tourism has recently started using social media to
promote tourism sites throughout the country, and 70% of all four-and five-star hotels in the main cities have established their social
media presence.  
Travel Technology: Mobile Concierge  
By its very nature, travel is a mobile activity - so the travel trade
is using mobile devices as a sales and customer service channel and
have developed mobile concierge services. Travellers now expect
real-time answers and greater customisation, wherever they are and at
any time, before, during and after the trip. Online travel sales
recorded another strong performance in 2012 growing by 8.4% globally
to reach US$524 billion. World online travel sales growth is expected
to continue steady in the next five years at a 9.5% CAGR.  
Global Village: Vacancy on Demand - Chasing the 24-hour Traveller  
Hotels are increasingly renting rooms to business and leisure guests
for 'microstays' during the day. More business guests are seeking
day-use rooms for various reasons, including a chance to relax
between appointments or flights, or workspaces for meetings at the
hotels. Hotels will become 'offices of the future', and this is very
much likely to become a global trend. 
Caroline Bremner, Head of Travel and Tourism at Euromonitor
International, said: 'The Global Trends Report 2013 reveals how
travel players are differentiating and innovating their products and
services, all while embracing mobile and social trends.' 
Simon Press, Senior Exhibitor Director at World Travel Market, said:
'The WTM Global Trends Report has been at the forefront of predicting
major trends in the travel and tourism industry since its launch in
2006. The 2013 report is no different forecasting a number of trends
I'm sure will bear fruit over the coming years.' 
About Euromonitor International  
Euromonitor International is the world's leading provider for global
business intelligence and strategic market analysis. We have more
than 40 years of experience publishing international market reports,
business reference books and online databases on consumer markets. 
We deliver market research solutions to support strategic planning
for today's increasingly international business environment. Our
research offers in-depth market analysis on consumer goods and
services industries worldwide, as well as economic, demographic and
socio-economic data and insight on countries and consumers. 
Euromonitor International is headquartered in London, with regional
offices in Chicago, Singapore, Shanghai, Vilnius, Sao Paulo,
Santiago, Dubai, Cape Town, Tokyo, Sydney and Bangalore, and has a
network of over 800 analysts worldwide. 
About World Travel Market  
World Travel Market, the leading global event for the travel
industry, is the must-attend four-day business-to-business exhibition
for the worldwide travel and tourism industry. Almost 48,000 senior
travel industry professionals, government ministers and international
press, embark on ExCeL - London every November to network, negotiate
and discover the latest industry opinion and trends at WTM. 
WTM is owned by the world's leading events organiser Reed Exhibitions
(RE), which organises a portfolio of other travel industry events
including Arabian Travel Market and International Luxury Travel
Market.
Contacts:
Euromonitor International
Violetta Scola
Communications Executive
+44 (0)20 7251 8024 Ext.3201
violetta.scola@euromonitor.com
 
 
Press spacebar to pause and continue. Press esc to stop.