Trends driving industry growth over the next decade:
- The travel and passenger flows and travel spend in growing regions (Asia Pacific, Middle East, and Africa) in terms of hospitality, airlines and airports are growing rapidly.
- After examining business travel trends, we see how Western and Asian travel markets, as well as business travel, had gradually recovered from the effects of the last recession
- The most important trend in the next decade is further expansion in the market share of Low-Cost Carriers.
- Impact of seamless travel experience and its two most important factors is technology and infrastructure.
- The development of Internet-based and mobile technologies will further increase the use of mobile devices for travel and to remain in the racing in this industry, travel technology providers are developing applications to facilitate information provision, bookings, and reservations, travel connectivity and payments.
- Personalization will become the biggest priority among the modern travel industry trends. Almost 90% of travellers worldwide admit that standard traveling process is not enough nowadays and as they see personalized approach as an expectation rather than something extraordinary.
- Online booking service is experiencing constant growth as the revenue generated from online booking is expected to grow from 92.5 million USD in 2018 to 11.5 trillion in the following decade.