Social Media and Inquisitiveness Trends that Will Drive the Travel & Tourism Market in 2019

Travelling has become a common affair among every individual’s life today. People travel for work, personal reasons, vacations, adventure, and to explore the world. With easy availability of multiple modes of transport, even the remotest locations are connected today. This allows several people to consider traveling to places. As an offshoot of the travel market, tourism is also flourishing. Aspects like exposure to social media, growing awareness, and inquisitiveness to explore new places stokes demand in the global travel & tourism market.

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The global travel & tourism market has been consistently growing at a stable rate, and is expected to witness a higher growth rate in the coming years. Transparency Market Research is bringing out a report that will detail out every nuance about the global travel & tourism market. It will shed light on the prevailing and future market trends, challenges, geographical analysis, and the competitive landscape.

Global Travel & Tourism Market: Drivers and Restraints

Advancements in technology forms the basis for the rapid development in the travel industry. Today, almost every means of transport is introducing advanced features that make travel comfortable and quick. The fierce development in air transport industry is one of the crucial factors of growth in the global travel & tourism market. Several new airlines have emerged in the past few years, and the rising population is pushing companies to add more aircrafts to their fleet. This is a key driver in the global travel & tourism market.

At the same time, the rising interest among people to travel the world and take vacations to de-stress is an important factor. Many professionals consider taking two vacations every year to relax and come back with a fresh mind to gain focus in work. Moreover, a large pool of youngsters today are keen on takin sabbaticals and exploring new places. These trends invoke growth in the global travel & tourism market.

One of the major hurdles for the global travel & tourism market is the lack of connectivity to key tourism destinations. This instills reluctance among travelers and might restrict growth in the global travel & tourism market. However, push from governments and development in some of these regions could see direct travel links in the future. This will raise hope among companies in the global travel & tourism market.

Global Travel & Tourism Market: Opportunities

Adventure is a new and emerging area in the global travel & tourism market. Several people are developing fascination towards adventure sports such as hiking, trekking, river rafting, sky diving, deep sea diving, bungee jumping, and more. People are becoming aware of these destinations through social media and other travel portals. In the past few years, many companies in the global travel & tourism market have introduced travel adventure tour packages. This opens new avenues for growth in the global travel & tourism market.

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Global Travel & Tourism Market: Geographical Analysis

When it comes to regions, Europe is predicted to reign the global travel & tourism market during the forecast period. Many countries in Europe like Italy, Switzerland, France, Belgium, and Germany are popular tourist destinations. The continent has witnessed a surge in the tourist footfall in the past decade, thus maintaining momentum in the global travel & tourism market. At the same time, players in the global travel & tourism market will be keen about the emerging Asia Pacific market.

Global Travel & Tourism Market: Competitive Dynamics

With immense potential for growth, the global travel & tourism market has several players. Some of the key players are TCS World Travel, Air BnB, G Adventures, Accor Group, Adris Group, and Crown Ltd. Many players are trying to introduce attractive services at compelling prices to sustain demand and growth.

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