Research Summary
After the historic achievement with
more than one billion tourists travelling in 2012 international tourists has
continued its momentum with five percent growth in 2013 and so on. The increase
in accessibility, disposable income and most importantly the rise of middle
class travelers from BRIC (Brazil, Russia, India and China) and other growing
nations has undoubtedly made this industry more vibrant never like before.
European Travel Trend: Despite economic
difficulties Europeans did come up with good tourism prospects. Destinations in
Europe proved to be a strong factor. Traditional destinations in Europe are
still popular among fresh tourists. Emerging Russia is temporarily limited to
domestic tourism as ruble lost its purchasing capacity due to political changes
in 2015.
Asian Travel Trend: Holidays are the
clear reason for Chinese travelers among youngsters who have high spending
trends. Overwhelming 70% Chinese prefer traditional destination in groups
whereas new emerging educated urban travelers prefer individual experience.
Domestic travelling trend in India is compelling its domestic market to move
ahead.
America's Travel Trend: South Americans have
once again proved to be in larger size in terms of market and are predicated
accordingly in 2014.North Americans preferred long International holidays with
€1455 average cost per trip. South Americans proved to be the booming market as
they kept travelling and spending.
Youth Travel Trend: Young people around
the world are travelling more spending more and exploring new horizons.
According to UNWTO youth travel generated $182 billion in 2012 and is expected
to rise with average spending of $ 910 per trip.
Low Cost Accommodation: World Travel Monitor
forum in Pisa (2013) indicated low cost beds and low cost flights on rise as
hospitality market is splitting into top end and bottom end. People have come
down from luxury to affordability. Tendency to look for classical facilities is
becoming limited and new travelers are looking for basic facilities and
the trend is increasing. Increment in level of good service and growing
competition is adding flavor to it.
Africa: Africa is on gradual
improvement with South Africans paving the way out. Rise in outbound travel
with 6-9% growth Africa too is showing the reflection of economic growth in the
recent years (Buck, Ruetz, & Freitag, 2013).
Market Trend
World travel market in 2013 did
come up with different and changing perception of hospitality trends in global
practices in comparison to that of traditional understanding. PANKs
‘Professional Aunt, No Kids’ normally reflecting childless women traveling in
Americas is increasing.
UK overview indicates that the
airlines customers are happy with multiple facilities in the airlines rather
than in price. Studies show people are happier for longer when they spend money
on experiences.
European where they seek cheap
traveling options is now with "Pear to Pear" traveling option, it is
believed growing online commerce has played significant role on it. This
sharing economy offers them lower price than ever before. “The future of
peer-to-peer holiday rentals really depends on legislation, but I believe that
there are very good prospects. Hosts earn extra money for their pocket and
guests get more value from their travel dollar, so it is an attractive
proposition.”
What can an internet and mobile
do in our lives, we are yet to explore but whatever changes it has come up with
so far has undoubtedly revolutionary effect in customer relationship. Travel
technology in the days ahead will undoubtedly create the necessity of
personalized service and will definitely take professionalism to limits.
Despite ongoing unrest in the
Middle East there has been a visible recovery in market trend. Luxury brands
are important, and high-end experiences offering comfort and personalized
entertainment are favored among middle eastern consumers however the presence
of Jazeera Airways with low cost model cancelling the "Pay for Food"
system and introducing duty free on board for business class has lured economy
customer from traditional airlines."
The big five with your little
one" is a growing saying in African safari business. This famous saying
not only includes children in the tourism business but also has significantly
attracted grandparents in the rewarding offers from South Africa and other
counterparts (World Travel Market [WTM], 2013).
The growth of family members from
India and China in safari will ask more preparation and expansion from the host
nations in the days ahead so grounding is to be done accordingly.
Industry sources predict China
will become the second largest global cruise market after the US by 2017. The
best part of Indian business is the growth seen in the domestic low cost flight
business. India has seen significant growth in online marketing and the
neighboring destination in low cost has seen some growth. New internet users,
social media and mobile application have revolutionized the travel scene (WTM,
2013).
Existing Trend
Destination Competitiveness: “Competitive
strategy is the search for a favorable competitive position in an industry. It
aims to establish a profitable and sustainable position against the forces that
determine industry competition”
Millions of valuable reviews and
opinions were consolidated by the world's largest website tripadvisor.com
(2014) before it declared travelers "Choice Destinations". Istanbul
climbed to first position leaving behind eleven other destinations on the
competition to be the most preferred destination in the world. Every year there
are slight or amazing changes. However there are certain common elements that
signifies the hard work behind its success.
Restaurants: Restaurant is not
just a food consuming location anymore but now it is a way of life for people to
spend quality time. Restaurant business is more like having inclusive
experience of all phenomenon enact to provide experience of life where every
customers can count on their best memories.
Antique shops and used-book
stores:
Plentiful antique shops and cheap used-book stores has too added flavor on most
popular cities for the tourists. What do they want to buy is not the question
but how can any nation add revenue through this strategy can be learnt well
from the experience of Istanbul.
Pedestrian's art: Walking on the street
for the tourists is not just the reason to reach from one place to other
location. Beauty is added when principally pedestrians get lots of fun while
walking. It can come in different forms; world's most popular cities carry all their
uniqueness right in their paths. Whether it’s Thailand with garden restaurants
or Paris where every step are an experience all the resilient cause are
allocated as a mystery of art.
Scenic Views: There is no doubt
that best scenic views must be preserved and can be commercialized. Weather you
take one to the roof top restaurant or to a beautiful scenic location it must
always add aroma to what one takes. The understanding value of scenic views in
room sales is not a new chapter in hotel and travel industry, however
developing similar ability in small entrepreneurship to a café, restaurant, and
other similar business undoubtedly has added value in global business.
Street food Culture: Every country and
society has their own products and eating habits, when those are exhibited in
professional manner to lure tourists there is no doubt that it will indeed make
a business culture. Successful touristic countries knowingly or unknowingly
have these greatest assets as one of their dynamic factor to engage visitors.
Music and Night Life: After all tourists
look for the reasons to stand on their happiness no matter how one tries to
mold them on the place where they go. Most popular and visited place in the world
are gifted with music and night life. (http://www.tripadvisor.com/,
2014).
Future Trend
Silent Travelers: It is indeed the rise
of digital world that will create more online adaptation for the industry. Lots
of handshake and refined communication is at the brink of extinction. Traveler
can come up with his own way to travel where agencies will be expected to
balance inevitable needs keeping them independent.
Business and Leisure Travel: Personnel life and
professional life has come to real conflict. Business travelers tend to extend
their business day adding leisure time creating huge business opportunities to
concerned stakeholders. Flexibility and corporate tools needs to be reflected
on reality which so far is not seen around the corner.
Curation on Priority: Intel survey (2013)
reveals that the choices have overwhelmed customers as they have multiple same
day deals in their gadgets so more intelligence in the system and well-targeted
information can be expected in the days ahead.
Visuals in Marketing: Visuals are the new
language of digital era. Social media has been driven primarily by image
sharing experiences of places and attractions however there are very few
tapping on these assets as their marketing tool
Smart Design on Rise: Customers are going
beyond online, what they look forward is infrastructure that lets traveler’s
guide themselves but are the agencies prepared accordingly. Intel Survey (2013)
indicated that there’s an increased concern that “guests’ expectations are
greater than the industry can keep up with.” Hoteliers know that new
technologies are the wave of the future, but worry that ineffective
implementations could detract from the guest experience by, for example, not
having the staff to handle user issues.
Substandard Travel Startups
Abound:
Plentiful access to information has given preference to smart staff and not new
products so everyone in the business is not lucky enough to have equal funds so
active investment is in dilemma.
Visa Regulations: New emerging
destinations in the global picture has compelled EU, and USA to transform their
policies and so will continue in the days ahead as more and more competitors
are yet to make their place lucrative for tourists (Ali, 2014).
Market overview may compel the
market to rethink on their marketing strategy. Its survey on mobile impact show
that $ 2.6 billion hotel reservation in 2011 did rise to $ 8 billion in 2013.
Mobiles are growing as check in options in the hotels along with tablets
helping them to reserve restaurants, get room service and housekeeping and also
to check out (Intel, 2013).
Conclusion
Hospitality knows no boundary it
its growth; improved infrastructures, accessibility, and new emerging economy
have taken over all the hurdles that were expected to disarray industry.
Airlines have come up with
alternative way of marketing. Technologies have given multiple options for the
customers in regarding their selection. Even the most competitive and
successful airlines have already stepped ahead in budgeted airlines and have
kept themselves risk free.
Human behavior too is changed as
they kept on adjusting to new developments of civilization. So called poor
countries now are in the leading position of global economy changing the
picture of travel trend.
New emerging tourist destinations
have proved to be the strong alternative to traditional European and American
locations compelling these nations to ease visa rules.
Creativity in new destinations
has brought multiple reasons for the tourists to hover around for pleasure.
Means of communication and marketing has already shown the future prospects in
global business. Vibrant industry is on the edge to record many historical
incidents moving people from one place to another never like before in this
human civilization.
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