Smart technology is transforming the tourism industry with personalised services that suggest richer and more enjoyable experiences suited to a traveller’s individual preferences, reveals the WTM Global Trends Report 2015, in association with Euromonitor International, released today (Monday 2 November) at World Travel Market London.
Using mobile technology and big data analytics, companies are now able to suggest interesting activities for travellers at their location, reveals the report, which is celebrating its 10th anniversary at WTM London 2015.
For example, the TripAdvisor Apple Watch app can send a push notification at lunchtime with information about the highest-rated restaurant nearby. The next step will be tailoring the service to travellers’ personal tastes.
Google Now is aiming to proactively bring consumers information before they ask, based on their past behaviour, with geo-localisation keeping suggestions locally relevant. The key lies in providing “context-aware information in the moment that matters”, according to Google UK Sales Director, Bernd Fauser.
OTAs such as Booking.com and Expedia, are currently working on customers’ preferences to increase booking conversions, and they will move to personalised mobile services next.
World Travel Market, Senior Director, Simon Press said: “The opportunities that smart technology offers travel companies are endless and we have only scratched the surface. It won’t be long before personalised suggestions – created from cross-checking consumers’ preferences and current location with online inventories of local travel services and activities – will become the norm.“
Euromonitor International, Head of Travel, Caroline Bremner said: “Companies now have the possibility to collect a wealth of information about consumers that was previously unavailable to them – usually referred to as big data – and this is leading to offers of more personalised experiences.
“A gradual shift to one-to-one marketing in travel will be evident, with each consumer treated in a different way in terms of the overall marketing mix including pricing.”
Mobile travel sales reached US$96 billion in 2014, accounting for 12.5% of global online travel sales, according to Euromonitor International. They are forecast to record a strong compound annual growth of 22% over the period 2014-2019.
About WTM Global Trends Report, in association with Euromonitor International
Celebrating 10 years of partnership, the leading global travel event World Travel Market (WTM) and strategic global market research provider Euromonitor International are pleased to reveal the top travel trends in the WTM Global Trends Report 2015, in association with Euromonitor International. For ten consecutive years, the report has been at the forefront of accurately predicting major travel trends around the world, looking at how the travel industry is developing in a rapidly changing landscape. The WTM Global Travel Trends Report, in association with Euromonitor International, offers an insight into to the size and shape of travel and tourism and identifies pressing industry issues, emerging brands, destinations and demographics, growth categories and consumer trends.
About World Travel Market London
WTM London, the leading global event for the travel industry, is the must-attend four-day business-to-business exhibition for the worldwide travel and tourism industry.
Almost 51,500 senior travel industry professionals, government ministers and international press, embark on ExCeL – London every November to network, negotiate and discover the latest industry opinion and trends at WTM.
WTM London, now in its 36th year, is the event where the travel industry conducts and concludes its deals. WTM 2014 will generate around £2.5 billion of travel industry contracts.
WTM London is part of Reed Travel Exhibition’s World Travel Market events, which also includes Arabian Travel Market, World Travel Market Latin America and World Travel Market Africa. www.wtmworld.com
World Travel Market Events
World Travel Market is comprised of the leading leisure travel events in the world; World Travel Market London, WTM Latin America in Sao Paulo, WTM Africa in Cape Town and Arabian Travel Market in Dubai.
New events for 2016 are WTM connect Asia and WTM connect China, which join WTM connect Ski and International Golf Travel Market. These unique one-to-one events are targeted at leisure and niche travel markets, allowing exhibitors to exclusively meet with elite hosted buyers.
The World Travel Market events are attended by the global travel and tourism industry’s senior executives to conduct business deals and discover the latest research, insight and opinion.
In 2014, the World Travel Market events facilitated around $7 billion in industry deals from negotiations between the more than 15,000 buyers, 9,500 exhibitors (1,500 main stand holders and 8,000 stand sharers) in attendance of its four events.
WTM is part of Reed travel Exhibitions, the leading events organizer in the travel industry, and is owned by the world’s leading events organiser Reed Exhibitions.
Reed Travel Exhibitions
Reed Travel Exhibitions (RTE) is the world’s leading provider of exhibitions in the travel and tourism industry. Its wide-ranging portfolio of events around the globe covers leisure travel, luxury travel, meetings, incentives and business travel, as well as golf, ski and spa travel.
RTE, which organises more than 22 events around the world, includes three divisions; World Travel Market, IBTM Events and International Luxury Travel Market.
RTE is a business unit of Reed Exhibitions.
About Reed Exhibitions
Reed Exhibitions is the world’s leading events organiser, with over 500 events in 43 countries. In 2014 Reed brought together over seven million event participants from around the world generating billions of dollars in business. Today Reed events are held throughout the Americas, Europe, the Middle East, Asia Pacific and Africa and organised by 41 fully staffed offices. Reed Exhibitions serves 43 industry sectors with trade and consumer events. It is part of the RELX Group plc, a world-leading provider of information solutions for professional customers across industries.
About Euromonitor International
Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have over 40 years of experience publishing international market reports, business reference books and online databases on consumer markets. We deliver market research solutions to support strategic planning for today’s increasingly international business environment. Our research offers in-depth market analysis on consumer goods and services industries worldwide, as well as economic, demographic and socio-economic data and insight on countries and consumers. Euromonitor International is headquartered in London, with regional offices in Chicago, Singapore, Shanghai, Vilnius, Sao Paulo, Santiago, Dubai, Cape Town, Tokyo, Sydney and Bangalore, and has a network of over 800 analysts worldwide.