In a follow-up to the Global Trends Report released earlier this month, we have released a new white paper authored by Caroline Bremner, Head of Travel and Tourism.
One of the most notable trends amongst 21st century travellers is an increase in online bookings. The US and Western Europe remained the largest online travel markets in 2012, with online travel sales reaching US$185 billion and US $170 billion, respectively. These same markets will grow the least from 2012-2017. However, BRIC markets are each expected to grow between 10-20% during that same forecast period.
Mobile technology has greatly affected travel bookings and will continue to grow, driving the increasingly important real-time social conversation between the newest travelling consumer, the millennial, and consumers and travel brands. According to Pew Research Center, 81% of US consumers between the ages of 25-34 have smartphones and 37% own a tablet. Marketing strategies must adapt to incorporate gaming, apps and user-generated content to reach this generation, since they are sceptical of traditional marketing.
- See more at: http://blog.euromonitor.com/2013/11/white-paper-understanding-the-new-21st-century-traveller.html#sthash.xGC8D5Na.dpuf
It’s no secret that China represents a big opportunity for global travel and tourism companies. What’s not yet widely understood is how enormous that opportunity is—and how easily it could be lost if travel and tourism providers don’t grasp the dynamics now to reshape the market for tourism inside and outside China.
Consider these two snippets that hint at those market dynamics: between now and 2030, two of China’s fastest-growing tourist segments will be traveling without organized tour groups. And eight of Chinese tourists’ ten most desired destinations in the near future are far outside of Asia. Their top “dream” vacation spots range from Australia and New Zealand to the U.K. and Italy.
These are just two of the many important findings in Winning the Next Billion Asian Travelers— Starting with China, the most recent report on the travel and tourism industry from The Boston Consulting Group. Coauthored with TripAdvisor, the world’s largest travel website, the report sheds light on everything from the breathtaking speed with which China’s tourists are packing their bags for leisure travel to the extent to which they are willing to trade up to more expensive rooms and other services.
via BCG – Press Release – Capturing the Full Opportunity Behind China’s Explosion in Travel and Tourism.
Microblogging giant, Twitter has rolled out a new form of targeted advertising, that would allow companies to deliver \”promoted tweets\” to customers who show interest in the brand through web browsing. For instance, if a hotel brand wants to display a promotional ad on Twitter, they would prefer to show it to travel enthusiasts who have already visited their website. To give the special offers to people who are on Twitter, the brand needs to share their browser-related information, or browser cookie ID, with Twitter, via an ads partner. This information will be used to match with the Twitter accounts, so that the users, with whom the travel deal would aptly match with, will be sent a Promoted Tweet. Advertisers will only receive reports as to how many users saw or clicked on their ads, and not users\’ identities.
via Twitter’s New Targeted Advertising.
Dennis Schaal, Skift
Amadeus became the latest established travel industry operating company to launch a travel startup investment fund, joining Concur, eLong, American Airlines and Priceline, although the latter two “funds” have yet to leave the ground.In recent years, these companies are showing they are not just content to acquire travel startups when they are ripe for the plucking.Instead, these companies want to get tight with the startups at an early stage, with the possibility of an acquisition perhaps at a later juncture.Madrid-based Amadeus announced in a blog post today that it has created Amadeus Ventures to invest in early-stage travel and hospitality startups.Katherine Grass, who heads Amadeus Ventures within the Amadeus IT Group, writes in the blog post:“The main objective of the fund is to identify and invest in start-up companies that have already developed a working prototype and sit in niche areas of the sector that we believe are at the forefront of developing market trends.
via Amadeus Launches Venture Fund To Invest In Travel Startups – Skift.
By Dr. Peter Tarlow, President and Founder of Tourism & More Inc.
Although many tourism practitioners believe that they are marketing a destination, it might be more accurate to call travel and tourism: “marketing with a destination”. All too often, travel and tourism professionals are so businesslike that they forget that the basis of a great marketing program is \”a passion-for-excellence.\” Tourism marketing is dependent on four intangibles: good luck, hard work, a sense of integrity, and a passion for people.
via Tourism marketing – a passion for excellence – eTurboNews.com.
U.S. online travel agencies (OTAs) have long relied on airline tickets as the cornerstone of their business. But sliding air bookings are now forcing OTAs to seek growth elsewhere. According to a new PhoCusWright report, OTA air gross bookings are projected to drop 7% in 2013 as air suppliers succeed in driving direct bookings via online and mobile channels. Hotel and lodging, not air, is now the segment driving OTA growth.
via PhocusWright Newsletter.
The inaugural PATAcademy kicks off at the PATA Engagement Hub in Bangkok December 11-14. The hands-on four-day workshop for rising stars of Asia Pacific travel and tourism has attracted high quality speakers and keen attendees. Among the professionals attending will be visitors from Tiger Tours (Bangladesh), the Tourism Council of Bhutan, the Chengdu Culture and Tourism Development Group, the Guam Visitors ureau, Plaza Premium Lounge Management, the Tourism Industry Center (Kazakhstan), the Lao National Institute of Tourism and Hospitality, Lao Airlines, the Macau University of Science and Technology, Malaysia Airports Holdings, Tourism Malaysia, the Singapore Tourism Board, Discover Lodge, and Anantara Vacation Club. Apart from interactive lessons on all key aspects of the visitor economy in Asia Pacific, there will be field trips to Bangkok Metropolitan Administration and Le Cordon Bleu Dusit Culinary School. More
The Pacific Asia Travel Association PATA has appointed Mr Mario Hardy as Chief Operations Officer, effective January 15, 2014. Based at PATA HQ in Bangkok, Mr Hardy will support CEO Martin Craigs. Mr Hardy has been Chairman of the PATA Foundation since June 2012 and has been at the forefront of the Foundation’s response to tropical storm Haiyan in the Philippines since November 8. An investor, entrepreneur and senior executive with more than 28 years of combined leadership, corporate development and change management experience, Mr Hardy was Vice President – Asia Pacific of UBM Aviation OAG between 1999 and 2013, with postings in Singapore, Beijing and London.
via PATA Appoints Mario Hardy as Chief Operations Officer – News – PATA.
Rafat Ali, Skift
Outside of Google, TripAdvisor is the global travel search engine, with a direct line into user behavior on where travelers are actually planning and going, instead of just intent. The primary use case of TripAdvisor is built around it: its millions of users, mostly landing from Google and elsewhere, search for accommodations in the places they’re going to.That is why when it comes out with a list of its destinations on the rise, you take it a lot more seriously than say the editorially-opaque destinations list from LonelyPlanet and others. TripAdvisor’s criteria: the places that have seen the “greatest increase in positive traveler feedback and traveler interest”, based on millions and millions of searches and reviews.
via The Top Emerging Global Destinations Travelers Are Actually Going To – Skift.
Facebook is planning to woo the travel industry with a series of events, research and ad targeting refinements in the coming months as it looks to turn one of its fastest growing advertising verticals to one of its biggest in 2014.In recent months the social network’s EMEA division has gradually been reorganising its sales teams to work with advertisers on a vertical, rather the country-based level. It has been recruiting for travel sales representatives in particular as it is looking to bring spend from the sector more in line with its biggest spending sectors, such as FMCG and financial.
via Facebook says wooing travel industry will be key focus in 2014 | News | Marketing Week.