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Key Themes in Travel and Tourism 2024 - Thematic Intelligence

Publisher GlobalData
Published Dec 14, 2023
Length 87 Pages
SKU # GBDT18459056

Description

Key Themes in Travel and Tourism 2024 - Thematic Intelligence


Summary

This report covers the key technology, industry, macroeconomic, and ESG themes that will have a significant impact on travel and tourism in 2024. Whether you are looking to invest, gain competitive intelligence, or just become more familiar with one of these themes, this report provides a comprehensive analysis of each one, while also outlining how these themes interlink, making this report a must-read This report pinpoints the themes that are most likely to impact your financial performance and position in the market. Each theme is given an in-depth description, an explanation as to why it is important in travel and tourism, data-led analysis, and case studies on how it is being used in different tourism sectors.

Key Highlights

The tourism sector will be very different in 2024 from what it was in 2019. Prolonged movement restrictions imposed by the COVID-19 pandemic brought about shifts in business operations and goals, as well as traveler behavior and preferences. During COVID-19, remote working and online conferences became more prevalent, and digital tools began to be used more than before, by both businesses and individuals.

A strong online presence is now vital for travel and tourism companies, and this needs to be bolstered by innovative apps, AI. Travel apps are commonly becoming a one-stop-shop for the whole travel journey. Furthermore, the rise of the web-based marketplace for travel has allowed companies to harness greater consumer data to deliver more personalized offerings.

GlobalData has developed a unique thematic research ecosystem designed to take a holistic view of the big themes that impact companies in the travel and tourism industry. Our thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. These themes will change over time—every few months, some themes will drop out and new ones will be added. It is a living ecosystem, not a static one.

Scope
  • This report is part of GlobalData's Thematic Intelligence. These reports provide insight into the key industry, technology, and macroeconomic themes changing the travel and tourism industry in the medium and long term, as well as an insight of the companies driving and being impacted by these changes. This report focus is on the Key Themes in Travel and Tourism for 2024.
Reasons to Buy
  • Understand the travel and tourism trends that will escalate in the near future.
  • Assess how travel and tourism companies such as tour operators, OTAs and DMOs are utilizing these themes to drive revenues.
  • Acknowledge the potential challenges that will be faced by companies involved in these themes by understanding the social, cultural, and environmental effects on the destination.
  • Discover recommendations for businesses involved in these themes.
  • GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
  • All across the travel and tourism supply chain, companies now have an opportunity to capitalize on what GlobalData considers to be the most impactful themes on the travel and tourism industry in 2024, and there are notable examples of this. Therefore, all should buy this report to fully understand how this theme will continue to be a key theme in the future travel landscape.

Table of Contents

87 Pages
Executive Summary
Travel & Tourism Theme Map
Viewing the world’s data by themes makes it easier to make important decisions
Technology Themes
Artificial intelligence
Travel & tourism challenges
The impact of AI on travel & tourism
Case study – Hopper
Cybersecurity
Travel & tourism challenges
Collaboration is vital
Cyber-ignorance accelerates the need for cybersecurity
Case study – MGM Resorts
Industry Themes
The experience economy
The experience economy has an impact on every part of the tourism industry
Young travelers are shaping a new pattern
Case study – Royal Caribbean International
Niche tourism
Travel intermediaries play a vital role
Holidays are becoming more varied
Case study – Black Tomato
Online travel & travel apps
Technology is having a transformative impact
Travel and tourism companies need to continue investing in online travel
Case study – MakeMyTrip
Case study – TripIt
Personalization
Marketing needs to shift towards personalization in the digital era
Why personalization is important
Case study - Lonely Planet
The sharing economy
There are positive and negative aspects to the sharing economy
The sharing economy saw an unprecedented rise
Case study – Spinlister
Macro Themes
Geopolitics
Geopolitical conflicts pose a serious threat to the travel industry
Trust in a product influences travelers’ product/service purchasing decisions
Case study – North Korean conflict
Inflation
Paths to a harder landing
The disparity between countries with high inflation and those overly concerned with their financial situations
Case study – Theme park and attractions sector
ESG Themes
ESG 2.0
ESG 1.0 is over
ESG 2.0 is mandatory
Environmental focus
The anti-ESG movement
The US leads on government subsidies for clean energy
Case study – G Adventures
Sector Scorecards
Airlines sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Airports sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Attraction operators sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Lodging sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Rail and road transport sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Travel intermediaries sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Glossary
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Glossary
Table 2: GlobalData reports
List of Figures
Figure 1: GlobalData’s theme tree shows the biggest themes currently shaping the travel and tourism industry
Figure 2: Thematic impact assessment
Figure 3: Travel and tourism companies have been talking a lot about AI in their filings
Figure 4: AI technological advancements populated Twitter and Reddit posts in 2022
Figure 5: When will the following technologies disrupt your industry?
Figure 6: Cybersecurity software will represent 42.97% of revenue by 2027
Figure 7: Trends in company filings suggest that cybersecurity is a maturing theme
Figure 8: The experience economy trend is being driven by a younger generation of travelers
Figure 9: Mentions of experience economy in company filings have increased drastically between 2016–2022
Figure 10: The Walt Disney company has had the most company filings that mention experience economy
Figure 11: The shift away from the mass tourism model has led to a wealth of niche opportunities
Figure 12: Sentiment toward online travel methods and influences
Figure 13: Sun and beach remain the most popular holiday type, but niche tourism shows signs of growth
Figure 14: Online travel market value overtook that of in-store in 2019
Figure 15: Travel app mentions have caught up to online travel mentions, overtaking the theme in 2021
Figure 16: Mobile internet subscribers (million) (G7 nations)
Figure 17: The importance of personalization
Figure 18: Travel bookings dominated by online platforms
Figure 19: Location-based personalization delivers the right messages to the right people in a particular place
Figure 20: Which of the following is most important to you when booking a holiday?
Figure 21: Mentions of sharing economy in company filings have increased drastically between 2016-2022
Figure 22: The sharing economy model
Figure 23: Which of the following features has the greatest influence on your choices of products/services in the current situation?
Figure 24: Russian international arrivals are expected to recover faster than Ukrainian international arrivals
Figure 25: Which factors help you decide where to go on holiday?
Figure 26: Mentions of inflation in company filings have increased drastically between 2016-2022
Figure 27: There is a stark contrast in global financial sentiment
Figure 28: There is a strong divergence in the level of consumer price inflation
Figure 29: Mentions of ESG in company filings have increased drastically between 2016-2022
Figure 30: Companies need to prepare for a new phase of ESG
Figure 31: IRA investments will impact many sectors
Figure 32: Who does what in the airlines space?
Figure 33: Thematic screen - Airlines sector scorecard
Figure 34: Valuation screen - Airlines sector scorecard
Figure 35: Risk screen - Airlines sector scorecard
Figure 36: Who does what in the airports space?
Figure 37: Thematic screen - Airports sector scorecard
Figure 38: Valuation screen - Airports sector scorecard
Figure 39: Risk screen - Airports sector scorecard
Figure 40: Who does what in the attraction operators space?
Figure 41: Thematic screen - Attraction operators sector scorecard
Figure 42: Valuation screen - Attraction operators sector scorecard
Figure 43: Risk screen - Attraction operators sector scorecard
Figure 44: Who does what in the lodging space?
Figure 45: Thematic screen - Lodging sector scorecard
Figure 46: Valuation screen - Lodging sector scorecard
Figure 47: Risk screen - Lodging sector scorecard
Figure 48: Who does what in the rail and road transport space?
Figure 49: Thematic screen - Rail and road transport sector scorecard
Figure 50: Valuation screen - Rail and road transport sector scorecard
Figure 51: Risk screen - Rail and road transport sector scorecard
Figure 52: Who does what in the travel intermediaries space?
Figure 53: Thematic screen - Travel intermediaries sector scorecard
Figure 54: Valuation screen - Travel intermediaries sector scorecard
Figure 55: Risk screen - Travel intermediaries sector scorecard
Figure 56: Our five-step approach for generating a sector scorecard

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