Statistics & Trends Archives - TravelDailyNews International https://www.traveldailynews.com/category/statistics-trends/ TravelDailyNews International Tue, 06 Jun 2023 07:58:07 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 https://www.traveldailynews.com/wp-content/uploads/2023/01/favicon-3.png Statistics & Trends Archives - TravelDailyNews International https://www.traveldailynews.com/category/statistics-trends/ 32 32 FMI analysts view: Why is France a popular destination among wine tourists? https://www.traveldailynews.com/special-interest-travel/fmi-analysts-view-why-is-france-a-popular-destination-among-wine-tourists/ Tue, 06 Jun 2023 06:50:58 +0000 https://www.traveldailynews.com/?p=314114 Wine tourism in France offers a rich cultural experience, with visitors having the opportunity to explore historic vineyards, participate in tastings and cellar tours, and indulge in gourmet cuisine paired with local wines.

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As per the latest findings of Future Market Insights, global Wine tourism revenue is expected to be US$ 13.9 Billion by the end of 2023. In the long-term, the Wine tourism market is estimated to reach around US$ 47.5 Billion in 2033.

Wine tourism is a growing segment of the global tourism industry, driven by increasing interest in wine and unique travel experiences. Popular destinations include traditional wine-producing regions like France, Italy, Spain, and the United States, as well as New World wine regions. Wine tourism offers a range of experiences such as winery tours, tastings, festivals, and workshops.

It has a significant economic impact, contributing to job creation and local business growth. Wine regions are investing in tourism infrastructure to enhance the visitor experience. Wine education and sustainability are important aspects of wine tourism. While the COVID-19 pandemic has affected the industry, it is expected to regain momentum as travel restrictions ease.

2018 to 2022 Global Wine Tourism Market Outlook Compared to 2023 to 2033 Forecast

The future outlook for the wine tourism market appears promising, with several factors shaping its growth. As travel restrictions ease post-pandemic, there is an expected recovery in the tourism industry, including wine tourism which is expected to grow at a 13.1% CAGR. Travelers are increasingly seeking authentic and experiential travel experiences, driving the demand for immersive wine tourism offerings. Emerging wine regions in countries like China, India, and Eastern Europe are gaining attention. Sustainability and responsible tourism practices are becoming more important, and wineries are adopting eco-friendly measures.

Technology and digital platforms are likely to play a larger role in enhancing the wine tourism experience. Niche and specialized segments within the market may emerge to cater to specific interests. Collaboration and partnerships between wineries, tour operators, and tourism boards can create comprehensive wine tourism experiences. However, it’s important to consider that market dynamics can be influenced by various factors, and the actual trajectory of the wine tourism market may differ from projections.

Comparative View of the Adjacent Wine Tourism Market

The peer or ancillary markets in the travel and tourism sector are expected to have an impact on the global Wine tourism business. These include the special interest and Food Tourism markets. Future Market Insights’ study of these connected industries revealed insightful findings that will be useful in creating distinctive differentiated strategies to pursue opportunity and success.

Key Dynamics in Wine Tourism Market Worldwide

  • Wine Education and Experiential Learning: Wine tourists have a strong desire to deepen their knowledge and appreciation of wine. They seek educational experiences that provide insights into various aspects of winemaking, grape varieties, and wine tasting skills. Wineries have responded to this demand by offering educational programs, workshops, and guided tours. These experiences allow visitors to learn about the winemaking process, from vine to bottle, and gain a better understanding of the factors that contribute to wine quality and taste. Participants may have the opportunity to engage with winemakers, explore vineyards, and even participate in grape harvesting or wine blending activities. These educational experiences enhance visitors’ wine knowledge and create a deeper connection to the wine they enjoy.
  • Promotional Efforts by Wine Regions: Wine regions are actively promoting their offerings and investing in wine tourism infrastructure to attract tourists and showcase their unique wine heritage. They recognize the economic and cultural value of wine tourism and the positive impact it can have on local communities. Wine regions organize wine festivals, events, and tastings to showcase their wines and attract visitors. They create wine trails, routes, or maps that guide tourists through the region, highlighting different wineries and vineyards along the way. Visitor centers and wine museums are established to provide information and serve as starting points for wine tourism experiences. These promotional efforts by wine regions aim to create a compelling and enticing destination for wine tourists, fostering local businesses and contributing to the overall growth of the wine tourism market.
  • Seasonal and Weather Dependence: Wine tourism is influenced by seasonal and weather conditions, which can impact the availability of certain activities and visitor numbers. The timing of the grape harvest and winemaking seasons varies by region, and tourists may plan their visits to coincide with these periods to experience the excitement and energy of the grape harvest or participate in winemaking activities. However, this also means that certain activities may only be available during specific times of the year, limiting the options for wine tourists outside of these seasons. Additionally, unfavourable weather conditions such as heavy rains, frosts, or extreme heat can impact vineyard operations and potentially disrupt travel plans. These seasonal and weather dependencies can pose challenges for wine tourists in terms of planning their trips and experiencing specific activities.
France is considered as the Wine Capital of the World

France is renowned for its wine and attracts a significant number of wine tourists. Regions such as Bordeaux, Burgundy, and Champagne are particularly popular. Wine tourism in France offers a rich cultural experience, with visitors having the opportunity to explore historic vineyards, participate in tastings and cellar tours, and indulge in gourmet cuisine paired with local wines. The country has well-established wine routes and organized tours, making it easy for tourists to navigate and explore the diverse wine regions. The France wine tourism market contributed a significant share of 10.5% in the global market in 2022.

United States Offers a Diverse Landscape for Wine Enthusiasts

The United States boasts several prominent wine regions, including Napa Valley, Sonoma County, and Willamette Valley. Wine tourism in the U.S. offers diverse landscapes, from rolling vineyards to picturesque wineries. Visitors can enjoy tastings, vineyard tours, and culinary experiences. Wineries often provide educational opportunities to learn about the winemaking process and varietals specific to each region. Wine festivals and events, such as the Aspen Food and Wine Classic and the Oregon Wine Country Thanksgiving, also attract wine tourists. United States dominated the market with a share of 17.1% in 2022.

Australian Wine Tourism Market Gaining Prominence throughout the Globe

Australia’s wine tourism industry has flourished, with regions such as Barossa Valley, Margaret River, and Hunter Valley attracting both domestic and international visitors. Australian wine regions offer stunning landscapes, cellar door tastings, and guided tours that provide insights into the country’s diverse wine production. Visitors can also engage in activities like blending sessions, wine and food pairings, and hot air balloon rides over vineyards.

Category -wise Insights

The Prominent Age Group in Wine Tourism is 46-55 Years

The prominent age group in wine tourism tends to be the 46-55 age group, along with the over 55 age group which contributed 23.1% and 19.2% respectively in 2022. These age groups typically have more disposable income, are interested in culinary and cultural experiences, and may have developed a deeper appreciation for wine over time. They often have more flexibility in their schedules and may prioritize leisure travel, including wine tourism, as a way to relax and indulge in their interests. However, it’s worth noting that wine tourism can attract visitors from a wide range of age groups, and preferences can vary based on individual interests and circumstances.

Group Tours Dominates the Global Wine Tourism Market

The dominant segment in wine tourism on the basis of tour type can vary, but generally, group travels tend to be the most prominent. Group travels involve organized tours where a group of individuals travel together with shared itineraries and activities. They offer convenience and structure, making it easier for participants to visit wineries and enjoy wine-related experiences.

However, individual travel and professional groups also play significant roles in wine tourism, with independent travelers exploring wine regions on their own and professionals engaging in wine-related events and educational activities. The preference for a specific tour type depends on factors such as the destination, target audience, and the nature of the wine tourism experience being offered.

Online Channel is Gaining Traction in the Global Market

There are strict norms that are incorporated by the government for the protection of infrastructure of Wine areas and thus it is less likely that the tourist can have any in-person experience before actually visiting the place. Tourists as prefer online booking before booking the place they can go through the details and description of the place they can also avail of special discount offers available for the group.

Online bookings can be done for travel tickets, hotels and accommodations, stays, and other services availed while on tour. These bookings are done through online portals, airlines, and hotel websites and it is the most preferred booking channel when Wine tourism is concerned. The Segment is anticipated to grow at a CAGR of 13.3% during the forecast period.

Competitive Landscape

The wine tourism market has a diverse and competitive landscape, with various players contributing to its growth and development. Wineries and vineyards play a significant role by offering tours, tastings, and wine-related experiences. Wine tour operators curate itineraries and provide expert guides, while travel agencies and tour operators collaborate with local wineries to offer comprehensive wine-focused travel packages. Wine tourism associations and organizations support industry stakeholders through resources and collaborative initiatives.

For instance: Tour operators such as Wine Paths, Zephyr Tours, and BK Wine Tours offer special travel packages for exotic wine destination countries such as France, Italy, Spain, and United States.

The article FMI analysts view: Why is France a popular destination among wine tourists? first appeared in TravelDailyNews International.

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STR, TE lift U.S. ADR and RevPAR forecast; profit growth to be limited https://www.traveldailynews.com/statistics-trends/str-te-lift-u-s-adr-and-revpar-forecast-profit-growth-to-be-limited/ Tue, 06 Jun 2023 06:45:01 +0000 https://www.traveldailynews.com/?p=314110 The occupancy projection for this year was lowered 0.2% from the previous forecast, but projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 1.5% and 1.3%, respectively.

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NEW YORK — STR and Tourism Economics upgraded the 2023 U.S. hotel forecast just presented at the 45th Annual NYU International Hospitality Industry Investment Conference. While top-line performance advances, growing operating expenses are projected to limit profit growth over the remainder of the year.

The occupancy projection for this year was lowered 0.2% from the previous forecast, but projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 1.5% and 1.3%, respectively. For 2024, a 1.4% downgrade in occupancy coupled with a 0.7% lift in ADR meant a RevPAR downgrade of 0.6%.

RevPAR, the key top-line performance metric, was fully recovered in 2022 on a nominal basis but will not achieve that status when adjusted for inflation (real) until 2025. Gross operating profit per available room (GOPPAR) was also recovered in 2022 with limited growth forecasted for 2023 and more sizable gains projected in 2024. The GOPPAR projection for this year was lowered 2.7% from the previous forecast and downgraded 4.0% for 2024.

“Despite the upgrade, economic uncertainty underlines our forecast for the remainder of this year and into 2024,” said Amanda Hite, STR president. “We have always forecasted with a mild recession in mind, but we’re now looking a later timeline and the added concerns around the banking system. Regardless through the first four months of the year, hotel demand improved 4.3% with most of the gain concentrated in the upper upscale and upscale chains. These two chains, which are the segments most associated with business travel and groups, are expected to lead industry demand growth for the remainder of 2023. With everything considered, the industry has plenty of reasons to remain optimistic about top-line performance. At the same time, growing operating expenses, especially labor, continue to pressure the bottom line. Profit margins, while strong, are projected to be lower this year than last.”

“Recent stress in the banking system and tighter lending standards will add to inflation pressures and produce a relatively mild recession in the second half of 2023,” said Aran Ryan, director of industry studies at Tourism Economics. “A halting economy will limit gains in lodging demand, though we continue to anticipate returning group and business activity, international travel, and consumers’ desire for travel will sustain modest growth in room nights sold.”

The article STR, TE lift U.S. ADR and RevPAR forecast; profit growth to be limited first appeared in TravelDailyNews International.

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Research report shows true travel subscriptions services rare, but growing fast https://www.traveldailynews.com/statistics-trends/research-report-shows-true-travel-subscriptions-services-rare-but-growing-fast/ Mon, 05 Jun 2023 06:53:19 +0000 https://www.traveldailynews.com/?p=313961 Travel Metasearch website WayAway launches definitive study of travel subscriptions market that lists whole current universe. Study concludes there are currently only 49 true travel subscription services available in the US.

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Travel metasearch website WayAway has published a definitive white paper about the travel subscriptions space titled ‘Hit that subscribe button: subscription services in the travel industry’.

In addition to creating a formal definition of how to define a travel subscription service and surveying the market to establish the current players in the US, the report also explores the history of subscription services in the travel sector and interviews experts such as Subscription Boom author Adam Levinter and eDreams founder Mauricio Prieto.

WayAway’s Director of PR, Janis Dzenis comments: “The relatively limited research we’d seen into travel subscriptions seemed to vary wildly in what was and what was not classified as either travel or a subscription – nor was much of it up-to-date or taking into account the long evolution of such services from as far back as 2011 when Usingmiles.com introduced the first plan. So we decided to set a baseline definition for the space and map out the universe of current players before conducting any analysis.

“What we found surprised us on two levels, firstly that there’s a lot less travel subscriptions services than you might think – only 49 in the US market. And secondly that so many of these are recent, from just the last few years, indicating a boom with a very clear trend for accelerated growth. We firmly believe that looking back years from now we´ll recognize that now was an inflection point.”

The article Research report shows true travel subscriptions services rare, but growing fast first appeared in TravelDailyNews International.

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The safest Golden Visa and Passport options revealed by Astons https://www.traveldailynews.com/statistics-trends/the-safest-golden-visa-and-passport-options-revealed-by-astons/ Fri, 02 Jun 2023 07:09:27 +0000 https://www.traveldailynews.com/?p=313913 With a score of 1.269, New Zealand is the safest Golden Visa nation on Earth. Residency is granted for those who will invest between NZ$5-15 million over four years, and after five years of residency, an application for full citizenship can be submitted.

The article The safest Golden Visa and Passport options revealed by Astons first appeared in TravelDailyNews International.

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Research by Astons, the international experts on residency and citizenship through investment, reveals which countries are safest for those considering alternative residency or citizenship in order to provide their family with a better quality of life.

To understand which countries are safest for new citizens, Astons has analysed the Global Peace Index (GPI) score of the most popular Golden Visa and Golden Passport nations.

The GPI is a score attributed to each nation of the world based on how safe it is for visitors and new arrivals and is calculated using a wide variety of metrics including a nation’s ongoing domestic and international conflict, societal safety and security, and militarisation. The lower the score, the safer a nation is perceived to be.

With a score of 1.269, New Zealand is the safest Golden Visa nation on Earth. Residency is granted for those who will invest between NZ$5-15 million over four years, and after five years of residency, an application for full citizenship can be submitted.

Austria’s GPI score of 1.300 makes it the second-safest nation in the list and the safest offering a Golden Passport, though access to citizenship is not easy. After investing three million euros, you might be considered for citizenship, but the decision is entirely at the discretion of the Austrian government.

Portugal scores 1.301 making it the third safest nation but while residency was previously available after several months for those investing 280,000 Euros into the nation’s property market, Portugal has recently made the decision to close its residency via investment program.

Singapore (1.326) and Switzerland (1.357) are both perfectly safe nations for new residents. The former demands an investment of at least SG$10 million, while the latter is more affordable with a baseline investment of 250,000 Swiss francs.

Other Golden Visa or Golden Passport nations to make the top 10 safest for investors include Canada, Malaysia, Australia, Mauritius and Spain.

As for the world’s most dangerous golden nations, Turkey scores highly with 2.785 due largely to its location bridging Europe and the Middle East.

This is followed by the supposed ‘Land of the Free’, the United States of America. With a GPI score of 2.440, the USA is considered more dangerous for new residents than the likes of Egypt, Namibia and Cambodia, to name just a few.

Immigration Expert for Astons USA, Alena Lesina, comments: “There are a lot of high net worth individuals opting to leave America at the moment. This is partly due to the high taxation laws, but also because they’re looking to secure a better quality of life and a greater degree of safety for themselves and their families.

While it may be one of the most progressive nation’s in the world, gun crime remains an extreme worry for many living within the United States, with high profile shootings, particularly within schools, acting as a deterrent.

The good news is that the option to gain citizenship or residency via investment can help many investors provide a far better quality of life for their families and there are a host of options that are considerably safer.

While some of the safest options include New Zealand and Austria, there are, of course, plenty of areas that don’t rank as highly overall in the current Peace Index but do offer a plethora of safe havens for investors.

In fact, nation’s such as Greece, Cyprus, Malta and the Caribbean are often some of the most popular amongst ageing investors, in particular, due to their slower pace of life, their attractive tax environments, the low cost of living and the safe haven they provide.”

The article The safest Golden Visa and Passport options revealed by Astons first appeared in TravelDailyNews International.

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FMI analysis: Increasing accessibility of VR and AR devices to drive the virtual tourism market https://www.traveldailynews.com/technology/fmi-analysis-increasing-accessibility-of-vr-and-ar-devices-to-drive-the-virtual-tourism-market/ Fri, 02 Jun 2023 06:25:03 +0000 https://www.traveldailynews.com/?p=313885 As per the latest findings of Future Market Insights, the global virtual tourism market is expected to be 12.3 Billion by 2023. In the long term, virtual tourism is estimated to reach around 26.0 Billion in 2033.

The article FMI analysis: Increasing accessibility of VR and AR devices to drive the virtual tourism market first appeared in TravelDailyNews International.

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Virtual tourism allows you to explore a location, travel venues, and attraction sites without physically visiting them. Virtual tourism provides incredible experiences made possible by technological innovation. Virtual tours are a new type of marketing that allows travelers to experience tours in a visual environment.

With the increasing use of smartphones and numerous technological breakthroughs in tour technology, the experience of virtual tours is becoming increasingly important and driving the tourism sector. People are increasingly selecting virtual tours since they can be enjoyed on smartphones and large TVs.

Augmented Reality (AR) is offering new growth chances to the virtual tourism sector, and with the help of modern smartphones, virtual tours are bound to expand on a greater scale and reach more people.

According to research and analysis, there are challenges with the virtual tourism sector that must be addressed and improved, with an emphasis on how technological improvements aid in advertising and the growing market.

2018 to 2022 Global Virtual Tourism Market Outlook Compared to 2023 to 2033 Forecast

Digital advancements in the tourist sector are opening up new avenues for getting the ultimate experience of various tour types. Virtual tourism is emerging as an alternative to physical travel by providing consumers with a genuine preview of tourist sites and attractions, and it is also emerging as a potential for value propositions.

Virtual reality (VR) in virtual tourism allows for interactive navigation of the environment, opening up new potential in the virtual tourism industry. VR is changing the way people envision the future of travel, and it has revolutionized the consumer experience on a budget. With increased virtual tourism experiences and the impact of the covid-19 pandemic in 2020, virtual tourism saw a significant boost as there was a desire to experience and explore despite travel restrictions.

At the time of Covid-19, virtual tourism appeared to be a solution for individuals to escape boredom and isolation. There was an increase in online bandwidth over time, and additional features were unlocked to make the entire tour experience more appealing. While new digital marketing strategies provide value to the virtual tourism business, 360-degree virtual reality videos are taking another step forward. The modern virtual tour’s origins provided a technical display paired with real-time benefits.

With the modern capabilities of virtual reality, technical improvements present a powerful medium for virtual tours where businesses are taking advantage to modernize digital marketing to add new possibilities to the client experience.

While the local and central governments take various initiatives to promote virtual tourism, infrastructure development, and promotional strategies will be prioritized because virtual tourism suffers from major technological shortcomings that must be addressed for the sector’s growth and development.

Key Dynamics in the Geo-Tourism Market Worldwide
  • A surge in Virtual Reality in Real Estate for Commercialization, Driving the Growth

The market for virtual tourism is growing as the real estate business increasingly uses virtual reality to advertise their homes and improve user experience, as well as for advertising and promotions. However, due to a lack of familiarity and sluggish acceptance of virtual reality, virtual tours lack a broad and meaningful user experience, restricting market growth while it is still in its early stages of development. With increased internet access and technical improvements, the virtual tourism sector has surely many chances to grow and advance.

With the tremendous expansion in the virtual tourist business, there is an increase in the use of consumer electronic devices, which is supporting the sector’s growth. While there is a common misconception that virtual tours are expensive to put up and require more labor, which is also one of the reasons for their slow adoption, this is not the case. If the WPVR plugin is utilized, for example, single 360-degree panoramas might bring in the view of the uploaded photographs and link them together to form a proper virtual tour.

  • Personalized and customized experience for Virtual Tours on the rise

Virtual reality provides its customers with an undeniably personalized experience that caters to unique needs for tour experiences, made possible by technical breakthroughs that allow for customization and creativity in terms of virtual tour experiences.

VR Vision Inc., for example, delivers custom-developed programs, software experiences, and mobile apps by conceptualizing the idea of VR and putting it into action to push the brand objective further in a meaningful way. Custom VR application creation transforms the entire experience into a 360-degree world, assisting the user not only in having the tour experience but also in organizing their journey and making decisions.

Initiatives by Greece Tourism Authority to Promote Virtual Tourism

Greece was one of the top countries offering interactive websites to keep tourism in the country intact after COVID-19 completely shut down global tourism. With the undeniable foreseeable future as the entire tourism industry sat idle, facing major losses and shutting down, virtual tourism came to the rescue, and Greece was one of the top countries offering interactive websites to keep tourism in the country intact.

For instance, Greece’s tourism authorities launched the greecefromhome.com website in collaboration with Google to promote and enhance virtual tourism with the only purpose of allowing the user’s mind to travel even at home. Historical landmarks, archaeological sites, museums, beaches, music, and local traditions with the pleasure of sailing, hiking, rafting, and more from the comfort of your home. Previously, virtual visits were not generating cash as an effort, but that is when Greece began commercializing it digitally by using various technical improvements, which will continue to expand.

Installation of touchscreen multimedia for interactive communication contributed to virtual tourism development

With its historical and geographical uniqueness, Italy is one of the countries that bring cultural richness to the tourism sector, and in addition to various historic centers, virtual tours have evolved as an integral aspect of tourism. Various institutes have been involved in developing virtual visits to national artistic heritage, the installation of Interactive touchscreen multimedia for interactive communication while experiencing virtual tours, and the provision of mobile applications to enjoy territorial tourism with the advanced setup of multimedia engine for videos, images, and apps held as a unique distribution point for users.

The development of a reasonable assessment of national artistic heritage has been widely dispersed. Italian cities are thus seizing the chance to arrange tours, facilitate connection with tour operators, and provide access to all information. As a result of all of these technological improvements, the number of tourists experiencing virtual tourism is growing.

India implementing digital experience for virtual tours and working on connectivity enhancement

With its diverse culture, traditions, and heritage sites, India is one of the countries that offers a rich cultural experience. The Indian tourist industry has taken attempts to promote Indian tourism in the online market by developing virtual tour concepts. To that end, the government has already begun working with organizations to improve the design and transform the virtual tourist industry. India is also connecting consumers to tourist destinations for leisure, medical tourism, adventure, wildlife, and other purposes in the virtual tourism business.

The Indian government also encourages the creation of platforms for these services with a clear travel structure. Rajasthan Studio, for example, has pioneered virtual tourism by presenting the concept of creating unique travel experiences in which visitors can virtually explore well-known Indian sites. Along with it, the government introduces new initiatives regularly to encourage all types of virtual tourism, including wellness, cultural, and spiritual tourism. The government is also working to improve connectivity in various regions to improve the online experience when taking a virtual tour.

Category-wise Insights

Which Age Group prefers to Travel More to a Geo-Tourist Location?

Students between the age group of 18- 34 prefer Virtual Tourism and geological sites visit more. While anyone of any age can enjoy virtual tourism, those between the ages of 18 and 34 are more likely to do so. The primary reason for this preference is to have fragments of virtual experience before going through the complete tour experience, regardless of destination.

Virtual sites are easy to book and experience from the comfort of your own home, and depending on the site and tour style that someone wants, it produces an excellent experience for the users. At the time of COVID-19, virtual tourism not only supported the entire tourism industry, but it was also growing due to technical improvements, and the Internet is making it easier for consumers to explore, decide, and book the tour, as well as a great experience while on the virtual tour.

With the advancement in digital apps for travel bookings, online channels are preferred more

The basic idea behind virtual tourism is to have a relaxing and comfortable experience when watching heritage sites or discovering the unknown. Since the time of COVID-19, there has been substantial growth in virtual tourism, and the number of tourists has only increased since then. With technological advancements, it is now possible to get a first-hand experience before going through the actual virtual tour.

While virtual tourism allows for the convenience of scheduling and exploring the full experience from the comfort of one’s own home, it also appears to be a fair notion for refund and cancellation. As a result, when it comes to virtual tourism, consumers are often more reliant on themselves rather than going through the process of reserving through an agent.

Competitive Landscape

Many organizations in the market are providing several tactics to corner the market in a highly competitive atmosphere. Connect technologies have been built in collaboration with companies like McLennan to optimize data in real-time, thereby replacing all handwritten data and preventing the chaos that existed previously.

Furthermore, the pace of supplier support channels is quickening, and they are successfully engaging with direct suppliers and large market participants to advertise and promote tourism.

The article FMI analysis: Increasing accessibility of VR and AR devices to drive the virtual tourism market first appeared in TravelDailyNews International.

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Experiences reign supreme during squeeze on consumer finances, according to Paysafe https://www.traveldailynews.com/statistics-trends/experiences-reign-supreme-during-squeeze-on-consumer-finances-according-to-paysafe/ Fri, 02 Jun 2023 06:21:13 +0000 https://www.traveldailynews.com/?p=313875 Research released by Paysafe highlights how consumers are prioritising expenditure and how they are paying for it.

The article Experiences reign supreme during squeeze on consumer finances, according to Paysafe first appeared in TravelDailyNews International.

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LONDON, UK – Consumer demand for travel, leisure and other experiences remains strong despite the increase in cost of living according to Paysafe research*. The leading payments platform found that 51% of consumers are still prioritising spend in these areas over other discretionary spending.

The research also revealed that over 27% of consumers are spending even more on eating out and takeaways than they did before the cost-of-living crisis, 25% are spending more on streaming services, and 17% are spending more on travel including days out, flights, and package holidays. Few respondents had stopped their discretionary spending altogether, at 7% for streaming services, takeaways, and eating out, and 13% for flights, package holidays and sports bets.

The report surveyed 14,500 consumers across Europe, North America and Latin America for Paysafe’s annual ‘Lost in Transaction’ study: Consumer Payment Trends 2023: How consumers’ shifting priorities are impacting the experience economy.

Despite the prioritisation of experiences, against a challenging economic backdrop, budget consciousness appears to be top of mind for many consumers. Forty-seven percent of consumers said they’d abandoned their carts at the checkout due to tighter budget constraints and would rather make purchases during seasonal sales or discounting events like Black Friday (67%). Over half (57%) of consumers have cut down on larger purchases and are instead making smaller purchases more often, while 61% are evaluating how they can cut further costs by repairing an item rather than replacing it. Others are tapping into the added benefits of digital wallets and eCash to manage their financial constraints, with just under half (48%) of digital wallet users saying they value this payment method’s connection to third-party money management tools.

eCash has seen a major jump in consumer adoption (now 60%, against only 26% last year), while more than two-thirds (69%) of consumers are now using digital wallets more regularly (compared to 41% in 2022’s research). In fact, 52% of consumers say they would now be happy to leave the house without a physical wallet and rely solely on a digital wallet or mobile device for purchases.

Commenting on the research, Rob Gatto, Chief Revenue Officer at Paysafe, said: “Our research shows that experiences are paramount – whether that’s where consumers are looking to spend their hard-earned cash, or how they are checking out for essential items. Even before the squeeze on household finances, consumers were already comfortable abandoning their carts. Now that they have the additional concern of tight budgets on their minds, they’ll be even more likely to do so if they’re hit with surprise shipping fees, can't use their preferred payment methods, or encounter other unwanted friction points at the checkout. It’s never been more important for online businesses to ensure their checkout is optimised for a seamless customer experience.”

 

 

*The research, which was conducted on behalf of Paysafe by Sapio Research in April 2023 and covers the UK, US, Canada, Germany, Austria, Bulgaria, Italy, Peru, Chile, Brazil, Mexico, Colombia, Argentina and Ecuador explored changing consumer behaviours towards payments.

The article Experiences reign supreme during squeeze on consumer finances, according to Paysafe first appeared in TravelDailyNews International.

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Huge increase in travel programmes providing for the LGBTQIA+ community and other marginalised groups https://www.traveldailynews.com/special-interest-travel/huge-increase-in-travel-programmes-providing-for-the-lgbtqia-community-and-other-marginalised-groups/ Fri, 02 Jun 2023 06:10:54 +0000 https://www.traveldailynews.com/?p=313847 LGBTQIA+ community and neurodiverse people are the least well provided for, claims data. Business Travel Show Europe – 28-29 June 2023, ExCeL London.

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As we enter Pride Month 2023, new data from a poll of 262 European travel and procurement managers conducted by Business Travel Show Europe has revealed what looks like a sharp increase in travel programmes that now provide special consideration for LGBTQIA+ travellers when compared to last year’s research.

43 per cent of programmes (compared to 26 per cent last year) make provision for the LGBTQIA+ community and a further 23 per cent (8 per cent in 2022) plan to before the year is out.

When compared to other historically underrepresented groups, the data implies that only neurodiverse people are less well provided for than the LGBTQIA+ community.

Yes 2023 Yes 2022 No We plan to – 2023 It’s too expensive
LGBTQ+ 43 26 22 23 10
Solo women 45 42 30 21 3
Marginalised communities (faith, race, religion) 50 31 25 18 8
People with accessibility requirements 48 47 19 19 13
Younger people 54 30 21 19 2
Older people 47 31 21 25 6
Neurodiverse people 39 22 38 10

The Office for National Statistics estimated 3.1% of British people over 16 identified as LGB in 2022, compared to 2.2% in 2019. New Census data showed that a further 250,000 people in England and Wales are transgender. One in five British LGB people have experienced a hate crime in the last year and two in five trans people. (Stonewall).

“We’re glad to see a big increase in European travel programmes making changes to their policies to provide consideration for their LGBTQIA+ travellers, as well as younger and older travellers, those with accessibility needs, and people from communities marginalised by race and religion,” said BTN Group Executive President Louis Magliaro.

“We hope this trend toward supporting the diverse needs of all individual travelers will continue, and our conference content can help travel managers to learn about best practices to enhance inclusion and equity.”

Scott Davies, CEO, ITM: “It is encouraging to see the growing trend in travel programmes making provision for the diverse needs of individual travellers. Indeed, the results of this poll by Business Travel Show Europe echo the recent findings from a Pulse Check of ITM’s buyer members in which 50% of respondents said that their travel policy now caters for travellers with accessibility needs.

“At ITM we are also very aware of the need to support travellers and event attendees who have neurodiverse and mental health needs. We have stepped up our commitment in this area since the start of this year following a wellness survey among our members to gauge their level of comfort, enjoyment or anxiety when attending and meeting new people at events. This has led to several ITM initiatives to support the needs of neurodivergent people and provide practical strategies for travel managers.”

Donna Joines, General Manager, Corporate Traveller UK: “All Corporate Traveller’s customers’ needs are important to us, and we do acknowledge social injustice exists. We encourage our business travellers to be as open with their consultant as early as possible with any concerns regarding their destination and travel programme. As soon as we’re made aware, our team of experts can share their cultural knowledge of the destination and advise/book accordingly.

“Being aware that we must adapt and consider things that we may not have to consider in the UK is very important for our customers’ peace of mind. For example, if a traveller identifies as LGBTQ+ and needs to travel to a country where the local laws are different to the UK, we can ensure they’re booked into accommodation where they will be respected and supported with all the facilities our customer would need throughout their visit to reassure them of their safety.”

Business Travel Show Europe is hosting an open Fundamentals session called Safety and security – a best practice guide for beginners – on Wednesday 28 June with Stuart Birkin, General Manager Scotland – CTM and Beth Sarmiento, Associate Procurement & Travel Director – Global Payments.

The article Huge increase in travel programmes providing for the LGBTQIA+ community and other marginalised groups first appeared in TravelDailyNews International.

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Globally, traffic is now at 90.5% of pre-Covid levels, says IATA https://www.traveldailynews.com/aviation/globally-traffic-is-now-at-90-5-of-pre-covid-levels-says-iata/ Fri, 02 Jun 2023 05:47:01 +0000 https://www.traveldailynews.com/?p=313859 International traffic climbed 48.0% versus April 2022 with all markets recording healthy growth, with carriers in the Asia-Pacific region continuing to lead the recovery. International RPKs reached 83.6% of April 2019 levels.

The article Globally, traffic is now at 90.5% of pre-Covid levels, says IATA first appeared in TravelDailyNews International.

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GENEVA – The International Air Transport Association (IATA) announced continued strong passenger traffic demand in April. Total traffic in April 2023 (measured in revenue passenger kilometers or RPKs) rose 45.8% compared to April 2022. Globally, traffic is now at 90.5% of pre-Covid levels. At 81.3%, industry load factor was only 1.8 percentage points below pre-pandemic level.

Domestic traffic for April rose 42.6% compared to the year-ago period and has now fully recovered, posting a 2.9% increase over the April 2019 results.

International traffic climbed 48.0% versus April 2022 with all markets recording healthy growth, with carriers in the Asia-Pacific region continuing to lead the recovery. International RPKs reached 83.6% of April 2019 levels.

“April continued the strong traffic trend we saw in the 2023 first quarter. The easing of inflation and rising consumer confidence in most OECD countries combined with declining jet fuel prices, suggests sustained strong air travel demand and moderating cost pressures,” said Willie Walsh, IATA’s Director General.

Air Passenger Market in Detail

APRIL 2023 (% YEAR-ON-YEAR) WOLD SHARE​1 RPK ASK PLF(%-PT)​2 PLF(LEVEL)​3
Total Market
100%
45.8%
39.7%
3.4%
81.3%
Africa
2.1%
47.1%
41.7%
2.6%
70.8%
Asia Pacific
22.1%
170.8%
135.1%
10.3%
78.4%
Europe
30.8%
22.2%
15.6%
4.5%
83.8%
Latin America
6.4%
15.3%
15.8%
-0.4%
81.4%
Middle East
9.8%
36.8%
26.4%
5.8%
76.0%
North America
28.8%
13.9%
13.8%
0.1%
85.6%

1) % of industry RPKs in 2022 2) Year-on-year change in load factor 3) Load Factor Level

International Passenger Markets
  • Asia-Pacific airlines saw a 192.7% increase in April 2023 traffic compared to April 2022. Capacity climbed 145.3% and the load factor increased by 13.2 percentage points to 81.6%.
  • European carriers had a 22.6% traffic rise versus April 2022. Capacity rose 16.0%, and load factor climbed 4.5 percentage points to 83.3%, which was the second highest among the regions.
  • Middle Eastern airlines posted a 38.0% traffic increase compared to April a year ago. Capacity climbed 27.8% and load factor rose 5.6 percentage points to 76.2%.
  • North American carriers’ traffic climbed 34.8% in April 2023 versus the 2022 period. Capacity increased 26.5%, and load factor rose 5.2 percentage points to 83.8%, which was the highest among the regions. North American international traffic is now fully recovered, with RPKs 0.4% above April 2019 levels.
  • Latin American airlines saw a 25.8% traffic increase compared to the same month in 2022. April capacity climbed 26.4% and load factor slipped 0.4 percentage points to 83.1%.
  • African airlines’ traffic rose 53.5% in April 2023 versus a year ago, the second highest among the regions. April capacity was up 50.0% and load factor climbed 1.6 percentage points to 69.8%, lowest among the regions.

Domestic Passenger Markets

APRIL2023 (% YEAR-ON-YEAR) WORLD SHARE​1 RPK ASK PLF(%-PT)​2 PLF(LEVEL)​3
Domestic
42.0%
42.6%
42.1%
0.3%
81.1%
Domestic Australia
1.0%
-4.5%
1.1%
-4.4%
76.0%
Domestic Brazil
1.5%
5.7%
6.7%
-0.7%
77.4%
Domestic China P.R.
6.4%
536.2%
377.5%
18.6%
74.4%
Domestic India
2.0%
18.3%
7.8%
7.8%
88.2%
Domestic Japan
1.2%
42.6%
11.8%
15.2%
70.4%
Domestic US
19.2%
5.5%
8.1%
-2.1%
86.1%

1) % of industry RPKs in 2022 2) year-on-year change in load factor 3) Load Factor Level

  • China’s domestic traffic rose 536.2% in April compared to a year ago and surpassing the April 2019 levels by 6.0%.
  • US airlines’ domestic demand climbed 5.5% in April and was 3.3% above the April 2019 levels.
APRIL 2023 (% CH VS SAME MONTH IN 2019) WORLD SHARE1 RPK ASK PLF (%-PT)2 PLF (LEVEL)​3
Total Market
100.0%
45.8%
39.7%
-1.8%
81.3%
International
58.0%
48.0%
38.1%
1.3%
81.4%
Domestic
42.0%
42.6%
42.1%
-2.7%
81.1%

“Heading into the Northern Hemisphere peak travel season, aircraft and airports are full of people eager to make use of their travel freedoms. Airlines are working hard to accommodate them with a smooth travel experience despite continuing supply chain shortages and other operational challenges. Sadly, some governments appear more keen on punitive regulation than on doing their part to enable hassle-free travel.

The Dutch Government’s high-handed effort to slash capacity at Schiphol airport is a prime example. And then we have a focus on EU-style passenger rights regulation that is spreading like a contagion. Proponents of this approach miss a key fact. EU 261 has not led to a reduction in delays. That’s because penalizing airlines raises airline costs but does not address delays caused by factors over which airlines have no control, such as inefficient air traffic management or staffing shortages at air navigation service providers. The single best thing that Europe could do to improve the travel experience is deliver the Single European Sky. As for other governments contemplating passenger rights regulations, avoiding a repeat of Europe’s mistake would be a helpful starting point.

“In just a few days, leaders of the global aviation community will gather in Istanbul at the 79th IATA Annual General Meeting (AGM) and World Air Transport Summit. Regulation and other key issues, including the critical topic of sustainability, will be on the agenda,” said Walsh.

The article Globally, traffic is now at 90.5% of pre-Covid levels, says IATA first appeared in TravelDailyNews International.

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Long-haul travellers to Europe become more cost-conscious https://www.traveldailynews.com/statistics-trends/long-haul-travellers-to-europe-become-more-cost-conscious/ Thu, 01 Jun 2023 07:25:15 +0000 https://www.traveldailynews.com/?p=313818 Europe maintains its appeal, with about half of respondents intending to visit the region this summer being repeat visitors.

The article Long-haul travellers to Europe become more cost-conscious first appeared in TravelDailyNews International.

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BRUSSELS – As the summer season approaches, over 50% of respondents in China, Brazil, Australia, Canada, and the US expressed optimism about travelling overseas. Among them, Europe remains a top choice for long-haul trips in May-August 2023. Nearly half of those planning to visit the region are repeat visitors, indicating Europe’s ability to cultivate a positive reputation, satisfy travellers, and entice them to return.

However, affordability has become a key consideration for travellers, with 32% of respondents saying that they will choose their next European holiday spot based on the cost of experiences offered at the destination.

This is according to the latest Long-Haul Travel Barometer (LHTB) 2/2023 published today by the European Travel Commission (ETC) and Eurail BV. The LHTB measures intention in large overseas markets (Australia, Canada, Brazil, China, Japan, and the US) to travel long-haul and specifically to Europe. The latest issue covers the period May-August 2023. The results are based on a robust sample size of 1000 respondents per market, which is representative of the travel population in the country.

Commenting following the publication of the LHTB 2/2023, Miguel Sanz, ETC’s President, said: “It is encouraging to see long-haul markets slowly but surely recovering, with China finally open to the world. However, Europe must be wary of other challenges we face as an industry, namely inflation and the cost of living. As we can see from this research, affordability has become a key issue for travellers planning to visit Europe. At the same time, we should not forgo commitments to sustainability. Informing travellers of more responsible travel choices in Europe should be a top priority for European destinations and businesses.”

Chinese and Brazilian travellers most eager for a European holiday this summer

China and Brazil are the two markets with the highest intent to travel to Europe in the short term. In China, 73% of respondents hope to visit the region over the summer – this level of assurance harks back to the early months of 2020 before the Covid-19 crisis. Of these travellers, about 52% demonstrated a strong certainty in realising their plans. In Brazil, 52% of respondents said they intend to visit Europe in the coming months, of which 32% expressed a strong likelihood.

In Australia, Canada and the United States, travel sentiment is relatively similar, with 38%, 37% and 36% of respondents, respectively, intending to visit Europe between May-August 2023. The positive sentiment is primarily driven by people below the age of 50.

Japan shows the weakest travel intent, with only 26% of surveyed respondents planning to travel outside of East Asia, and only 15% of them intending to travel to Europe.

Finding cheaper options jumps in importance to travellers

Value for money has solidified as a key criterion for travellers as they weigh destination options in Europe. Notably, the cost of local tourism products and services has seen a 10% increase in importance compared to the summers of 2021 and 2022. The top three criteria for destination selection are now perceived safety (39%), tourism facilities (35%) and affordability of travel services (32%).

Reducing shopping expenses (37%) is the top budgeting strategy for overseas travellers. Holiday goers are also cutting back on prices by booking all-inclusive packages (30%), using loyalty programmes and booking cheaper accommodation (both 30%), as well as eating at less expensive restaurants or opting for self-catering options (26%).

Weather conditions gain prominence in destination selection

The presence of internationally renowned landmarks (29%) continues to hold significant weight for long-haul visitors when selecting a travel destination. However, its importance is now on par with favourable weather conditions at the destination (30%). This suggests an increasing awareness among travellers of the constraints imposed by extreme weather conditions.

With a growing focus on sustainability, the survey also unveiled that 21% of respondents prioritise destinations that safeguard their natural and cultural heritage. However, only 15% deem visiting less crowded destinations as important, illustrating a somewhat contentious viewpoint.

ETC_Long-Haul-Travel-Barometer-2_2023

The article Long-haul travellers to Europe become more cost-conscious first appeared in TravelDailyNews International.

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Shiji ReviewPro launches guest experience Benchmark Report for Q1 2023 https://www.traveldailynews.com/statistics-trends/shiji-reviewpro-launches-guest-experience-benchmark-report-for-q1-2023/ Thu, 01 Jun 2023 05:23:29 +0000 https://www.traveldailynews.com/?p=313737 Booking.com dominates online reviews with a 43.5% share, followed by Google and TripAdvisor.

The article Shiji ReviewPro launches guest experience Benchmark Report for Q1 2023 first appeared in TravelDailyNews International.

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In response to the rapidly growing travel market and the increasing demand for optimal guest experience in hotels, Shiji ReviewPro announce the launch of its Guest Experience Benchmark for the first quarter of 2023.

Analyzing over 2 million reviews from 9,500 hotels in all regions, from Asia Pacific to the Americas, the report provides a comprehensive snapshot of guest experiences in 3 to 5-star hotels. This pioneering benchmark analysis offers hoteliers valuable insights into guest satisfaction trends and provides a comparative measure against current industry standards.

Key findings from the Q1 2023 report include:

  • Global Review Index (GRI) increased in Q1 2023, with 5-Star hotels outperforming other categories.
  • The Asia Pacific region leads in review volume increases, showing a 69.1% growth from Q1 2022, to Q1 2023, though still below pre-pandemic levels.
  • Booking.com dominates online reviews with a 43.5% share, followed by Google and TripAdvisor.
  • Despite Booking.com’s high market share, its low source index impacts overall review scores.
  • Room and Value indexes were among the lowest, while Location and Cleanliness indexes scored the highest.
  • TripAdvisor leads in positivity, Booking.com in negativity, but 74.7% of reviews remain positive.
  • Global hotels responded to 62.2% of reviews in Q1 2023, with five-star hotels leading in responsiveness.

Michael Kessler, CEO of Shiji ReviewPro stated, “Understanding how one’s hotel is performing against the global or regional industry is the secret of many of the world’s best hoteliers. By publishing the global benchmarks per region, we aim to equip hoteliers with insights on how they can offer the best service. Those who prioritize quality service tend to be the most successful.”

 

The article Shiji ReviewPro launches guest experience Benchmark Report for Q1 2023 first appeared in TravelDailyNews International.

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