BACK TO CONTENTS WTM GLOBAL TRENDS REPORT 2013
Industry players are embracing social media and working to differentiate and innovate their products, this year’s WTM Global Trends Report finds. Prepared in association with Euromonitor International, the report highlights the emerging trends in the global travel and tourism industry.
Industry overview and growth 2013 saw a more positive turn for the global economy, which is expected to record 3.1% increase by the end of 2013. With further growth expected next year, an upturn in the US market & an increase in emerging markets, the travel industry is facing a positive start to 2014. BRICS and other emerging economies are expected to contribute positively to global economic performance in the coming years. • Americas/PANKs The emergence of the PANK demographic – ‘Professional Aunt, No Kids’ – forms a new US target market. Research suggests that 23 million US PANKS are spending US$9 billion on the children of close friends or relatives, with 48% using travel as a way of fostering relationships. • UK Travel Happiness Index 2013 saw the launch of new flight metasearch site Routehappy, which offers a satisfaction-centric way of approaching flight sales. It works with some of the main GDS players, including Amadeus. • Europe overview Europe continues to see challenging economic conditions with GDP remaining low. Austerity is negatively impacting on hotel sales, and peer-to-peer sites are gaining momentum, with rental accommodation sites
rising in popularity. Social media developments coupled with the need for cheaper travel options are driving this economy. • Travel Tech Online travel sales continue to see a strong performance, especially in emerging markets. Travel companies are increasingly utilising mobile channels to cater to travellers’ needs and mobile concierge services help them to improve their experience. • Middle East – LCCs embrace luxury Low-cost carriers are introducing business class services in response to Middle Eastern travellers’ penchant for luxury. This move towards ‘affordable luxury’ is proving popular & LCCs could soon be luring customers away from traditional airlines. • Africa Strong economic growth, rising incomes and a growing middle class are helping to grow business tourism in Africa. Multi-generational holidays are on the rise and the travel industry is responding with ‘family-friendly’ safaris. • Global Village 2013 has seen a 6.9% growth in hotel sale values and a 7.1% growth in car rental value sales. New emerging trends in leisure and business travel will help sustain positive growth. With a high proportion of business being conducted on the move, hotels could be set to become the offices of the future. • Asia – cruise control Asia is at the forefront of global economic growth and its tourism industry is seeing consistent increases across all categories. Cruise tourism is on the rise in China. • India – social media to target young consumers Indian tourism rebounded in 2013 and the country recorded robust
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REPORT HERE WTM Global Trends Report The latest trends from around the world Next Gen
Travel Happiness Index UK
Peer-to-Peer Travel EUROPE
Fight for Cruise
Control in China ASIA
Professional
Aunts No Kids AMERICAS
The Travel Social Shake Up INDIA
Mobile Concierge TRAVEL TECHNOLOGY
Vacancy on Demand:
Chasing the 24 Hour Traveller GLOBAL VILLAGE
The Big Five with Your Little One AFRICA
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Low Cost Goes Upmarket MIDDLE EAST
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WTM GLOBAL TRENDS REPORT
growth following the slight decline recorded in 2012. Air travel fared particularly well, with Air Transport Value hitting 15.6% growth – some three times that of the previous year. Social media is taking on ever-increasing significance in the region. By 2017, India is predicted to have 300 million internet users, with 75% active on social media. 70% of all 4 and 5-star hotels in first-tier cities in India had established their presence on social media by August 2013. Online travel retail sales in India are forecast to reach US$14.7 billion by 2017.
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