The World Travel Market Global Trends Report 2012 has just been released and highlights the nine key emerging travel and tourism trends worldwide, looking at how the global, regional and national political, social and economic situation is shaping the travel industry.
Major identified trends include:
- Shopping is a major theme, with BRICs flocking to Europe, Indians jetting off on low-cost carriers to purchase gold, and hotels being built inside shopping malls in the Middle East.
- Technical innovation is the driving force between the rise of smart TVs, creating new opportunities for travel brands and new business models such as Tingo.
- Americans are drawn to countries coming in from the cold, such as North Korea, Cuba and Myanmar, while Nigeria’s film industry, Nollywood, is a magnet for intra-regional African travel.
- The lure of luxury continues in Asia as upmarket car brands exploit the power of their brands and make inroads into the hotels sector.
Americas: The Attraction of Forbidden Lands
Since 2010, countries previously off-limits to American tourists have become open; benefiting economically from tourism revenue. Caroline Bremner, Head of Travel and Tourism Research at Euromonitor said, “It’s a small but growing market. Most US visitors to previously banned countries are expected to come from the Baby Boomer generation.”
Europe: BRIC’s Grand Shopping Tour
Brazil, Russia, India and China are embracing shopping tourism in key European destinations. Dynamic economic growth has led to rapidly increasing disposable income levels in these countries. Together with increased awareness of an improved quality of life, consumers from BRIC countries are keen to spend more on travel.
Middle East: Rise of Shopping Hotels
Big spenders with cash are driving the trend for Middle Eastern hotels built inside shopping malls. Wealthy consumers from Bahrain and Saudi Arabia have disposable income and love shopping, thus mega-malls in the Middle East are booming. Shopping malls and associated hotel developments are key elements in the recovery of tourism, which saw a difficult year in 2011.
Africa: Destination Nollywood
Nigeria’s massive film industry, dubbed Nollywood, is the world’s second largest film industry in volume terms, after India’s Bollywood and ahead of Hollywood, with more than 2,000 films produced annually. The increasing popularity of Nollywood in many African countries will be a major growth driver with the leisure sector attracting film fans.
Global Village: Digital Detox
In a time when technology is an intrinsic part of everyday life, with more consumers addicted to their devices, some hotels are going against the tide, helping guests to check in and switch off. Some hotels are offering “technology-free” packages as an escape for busy travellers.
Full Report Here.