REPORT – WTM 2010: The 2010 World Travel Market Global Trends report was launched on Monday, November 8th at World Travel Market 2010. With ongoing economic uncertainty, the need for big ideas to capture consumers’ imaginations is greater than ever, as the travel industry slowly recovers from the crisis. The report by leading global market intelligence firm, Euromonitor International, highlights key seven emerging trends…
REPORT – WTM 2010: The 2010 World Travel Market Global Trends report was launched on Monday, November 8th at World Travel Market 2010. With ongoing economic uncertainty, the need for big ideas to capture consumers’ imaginations is greater than ever, as the travel industry slowly recovers from the crisis.
The report by leading global market intelligence firm, Euromonitor International, highlights key seven emerging trends and provides insight into how the industry can entice the next generation of travellers, despite the economic uncertainty.
Commenting on the report’s findings, Caroline Bremner, Head of Travel and Tourism Research at Euromonitor International said, “The effects of the Great Recession are still apparent in the global travel industry as deprivation holidays and boot camps are all the rage in North America. For those with access to credit, investment opportunities exist from Iraq to the UK’s iconic luxury brands. Other destinations like South Africa are generating jobs and tourism through space and astronomy tourism, whilst Latin America goes beyond sun and sea to promote off the beaten track destinations. Asia is embracing scent marketing to provide guests with authentic guest experiences. European travel is in the throes of the latest technological revolution – mobile travel.”
World Travel Market Chairman Fiona Jeffery said: “The launch of the 2010 World Travel Trends Report will provide the latest insight into the big trends for the year to come, making it a must-attend event for the travel and tourism media.”
The report focuses on seven regions highlighting the key trends in each:
- North America: Deprivation holidays
- UK: Invasion of Middle East investment
- Europe: Mobile travel applications
- Middle East: Race for Iraq
- Africa: Space tourism
- Asia: The fragrance factor
- Latin America: Roads less travelled
North America: Deprivation Holidays
Deprivation holidays are the new trend for business executives who, amongst others, want to push their bodies to the extreme. Aiming at improving their health and balance, consumers enrol in boot camp-style spa resorts or extreme trekking, instead of spending their free time relaxing. This trend will lead to the flourishing of destination spas and camps.
UK: Invasion of Middle East Investment
Many Middle East companies have expressed a growing interest in UK brands including luxury British hotels, travel retailers and private jet operators. At a time when the recession has severely curbed domestic demand, Middle East cash funds will certainly positively influence the expansion of luxury brand portfolios in the UK, with London positioning itself as the ‘new luxury’ hotspot for luxury travel services with an increased focus on personalisation and sophistication.
Europe: Mobile travel applications
Thanks to geo-localisation services based on GPS technology, smartphones are revolutionising the travel industry. Business travellers were the first consumer group to adopt mobile travel technology due to the need to make last minute reservations. With mobile applications offering various services from flight booking/check-in, guidebooks and tourist information, leisure consumers are fast catching up. This evolution of m-tourism is expected to be extremely fast, with high international roaming costs being the most significant obstacle.
Middle East: Race for Iraq
Iraq’s tourism industry has been supported by regional economic growth as the majority of business and religious tourists visiting the country are from the GCC and broader Middle East. Additionally, Gulf investors are piling into Iraq, driving up business tourism and contributing to the tourism revival of post-war Iraq.
Africa: Space Tourism
Astronomy and space tourism are taking off in Africa as South Africa develops world-class space technology and becomes a major hub for astronomy, with telescopes-in-room, astronomy courses are already on offer. Astro-tourism attracts all age groups, ranging from independent travellers, families to amateur and professional astronomers, and astro-tourism holidays will continue to grow in line with increased urbanisation, creating demand for destinations with areas suited to observe clear night skies.
Latin America: Roads less travelled
In Latin America there is a move towards promoting interior tourism, going beyond the usual sun and sea destinations to showcase off the beaten track destination. Emerging destinations at the heart of the countries suffer from poor infrastructure and lack tourism services, which constrains growth in these less affluent areas. With a vast territory, Latin America has countless unexplored areas and the move inwards will enable hotels, airlines and travel retailers to sell new destinations and improve undeveloped infrastructure.
Asia: The Fragrance Factor
Scent branding is taking the Asian market by storm as it offers guests a more unique experience, triggering emotions and encouraging brand loyalty. Customisation is the key with different scents for different hotel locations, while finding the right balance between natural aromas and manufactured scents will be a key challenge for travel players, such as hoteliers, airlines and national tourism boards.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.