Evolution Of Travel Sector To Drive The Global Tourism Market

Feb-2019 | Extense Research | Service & Software

Consumers around the world are going through a pattern shift involving the passing on of personal incidents. The travel sector has taken off and life experiences have become the ultimate social currency. While this transformation is intensely rooted in the trends released by the adequate incomes level, the diffusion of technology wouldn’t play a subordinate role. Airbnb study conducted in the US, Britain, and China showed that traveling millennial is more preferred compared to paying off debt, buying a car, or a living space.

By 2020, the millennial generation will be responsible globally for almost 50% of all business travel costs. To meet the lively needs of these tomorrow's travelers, traditional companies are adopting the new reality that may force them to be competitive and sometimes cooperate with leading trends in this area. This trend is expected to be the most key factor responsible for the spur of global of the global tourism market.

OTA Expedia, known, purchased Orbitz Worldwide, and North America–based, Trivago, and to become one of the first OTRs. A wide range of OTR expands its advertising base by buying its own marketing channels, exploiting the marketing search engine (SEM) and working on traffic monetization, all to have a unique position in the minds by winning the customer and retain them as well. Millennials with travel apps on their smartphones add up to 75% in contrast to their counterparts standing at 47%. With no surprise, according to Cleartrip, 53% of traffic comes from the mobile and 70% of customers use the mobile phone as the only channel of transactions. Mobile travel bookings in Europe are also increasing exponentially.

As micro-moments encourage travelers to search, chat, upload and conduct other transactions involving phone, travel companies also ensure a safe initial design for mobile devices and execute innovative mobile strategies to continue moving, cross-selling and working on initiatives after the trip to amazing their customers.