The Future of Travel And Tourism: An Analysis of the Key Trends, Economic Scope in Upcoming Tourism

The travel and tourism sector to see exclusive growth in 2018. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

Travel and Tourism accounts for more than one-tenth of global GDP making it one of the most important industries there is. After a long period of fairly limited innovation the industry is experiencing a new time of significant change that is beginning to change the nature of the industry.

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More than any other factor, technology is driving this change causing businesses in the industry to rethink their business model and adapt to the times to better engage with their customers. The future of the industry is going to be recognizable, but there will certainly be new types of products that take advantage of the fact that travelers are now increasingly mobile, constantly connected and demanding new and unique experiences.

Key highlights

– Many have alluded to the rise of Airbnb as indicator of the end of the dominance of the big hotel chains and Airbnb has brought some changes to the industry, but ultimately the big hotel chains are growing well regardless. The future of the industry is likely to include Airbnb as a significant player that offers the most rooms, but Airbnb is best viewed as more of a marketplace for property owners than a hotel industry threat, because they operate in very different segments.
– Despite this though the future of the hotel industry will require some flexibility and change on the part of the hotel industry, because there are some new requirements coming from younger generations and from business customers that want more leisure and experiences built into their hotel stay. This requires expensive redesigns of some chains if they intend to cater for this trend.
– Not regarded as a market prone to sudden changes, vacations have been experiencing gradual development of late due to adjustment to developing consumer tastes. Now a growing part of the market and attracting investment, cruises are attracting new audiences. Package vacations have survived numerous dips following terror attacks around the world, and appear set to remain the mainstay of vacations.
– The market is adapting to the rise in solitary travelers and continued popularity of short-term city breaks, marking a departure from the traditional two-week vacation. Those companies best able to survive the transition to modern consumer tastes stand to prosper over the long-term
– The airline industry continues to experience periods of flux. Not only are flag carriers across Europe struggling to counter budget airline expansions, but consolidation could become a more prominent feature as airlines attempt to replicate the rise of profitability recorded in the United States. What leading airlines are expected to do is changing; so to is how revenues are generated. Social media and online platforms are of growing importance, inciting growth in the importance given to those areas.

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Scope

– Examine the Airline industry and how its changing to deal with difficult market conditions
– See how the hotel market is dealing with the threats from new entrants
– Look at the types of holidays that are popular in the travel and tourism industry today
– Examine the opportunities for the travel insurance industry and what the future of insurance might look like

Reasons to buy

– What are the major changes developing in the travel and tourism industry
– What might the future of the industry look like
– How are the hotels, airlines and insurance industries preparing for the future
– What are the big trends in the industry and what products and sales techniques are prospering

Some Key Covered Point From TOC :

Table of Contents
Executive summary
Airline industry is striving for innovation amid difficult trading conditions
Hotel market not changing as dramatically as once thought
People are going on different types of vacation, changing the market
The business of selling holidays is changing
The Travel insurance industry has many options for innovation
Airline industry is striving for innovation amid difficult trading conditions
Sustainable airlines are minority in industry where margins are thin
Consolidation is reaching logical limits in United States – Europe will likely follow
Ancillary and additional charge revenue becoming more important to airline balance sheets
Online platforms now attracting large investments from leading players
Airlines are harnessing social media in bid to attract larger audience
Hotel market not changing as dramatically as once thought
The global hotels market is growing quite well driven by key trends in technology
The development of flight delay policies is a major benefit
The nature of the travel insurer is going to change
Key Findings

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