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New
Whitepaper Reveals Megatrends
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Shaping the Future
of Travel
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London,
UK – November 2018 / Newsmaker Alert / Global market research company
Euromonitor International releases
a new report “Megatrends
Shaping the Future of Travel” at World Travel Market (WTM) London,
the leading travel and tourism event worldwide.
Caroline
Bremner, head of travel research at Euromonitor International comments,
“In a rapidly changing global environment, megatrend analysis is critical
for companies seeking to drive sustainable growth and remain relevant as
competition increases and new ideas disrupt entire industries.”
The
new research reveals how the travel industry is developing within the fast-changing
global economic and social environment. Three key emerging travel industry
trends identified by the report are:
The
Joy of Missing Out #JOMO
Counter
to FOMO (Fear of Missing Out), the Joy of Missing Out (JOMO) is an emerging
trend as consumers are resisting the “always-on” mentality. Desire to unplug
is spurred by a need for authenticity, privacy and the enjoyment of face-to-face,
live experiences. Travel players such as Black Tomato are now offering
alternative travel experiences helping travellers disconnect from their
everyday lives and enjoy travel detox experiences away from civilisation.
Plastic
Waste
High-profile
events have greatly increased awareness amongst consumers of plastic’s
negative attributes. Many travel players have pledged to take action, aiming
to end the use of plastic straws with alternatives such as edible, hyper-compostable
straws. For instance, Europe’s biggest budget operator Ryanair announced
non-recyclable plastics will be completely removed from its aircraft by
2023.
Access
Economy Taking Flight
The
access economy, where goods and services are traded on the basis of access
rather than ownership, is booming. Travel is a sector revolutionised by
players such as Airbnb and Uber, yet the access economy has the potential
to transform many more areas with flights as the next possible category.
While Voom offers helicopter rides booked through an Uber-style app, the
city of Dubai is testing flying taxis and Wingly offers a booking platform
where private pilots take passengers on trips – carpooling style.
Wouter
Geerts, travel research consultant at Euromonitor International adds, “Going
hand in hand with these trends, travellers continue to look for ever greater
personalisation and authentic experiences. As destinations become overcrowded
and fast-paced lives are the new normal, expectations will focus on bespoke
and off-the-beaten-track destinations. We expect the desire for greater
personalisation to continue and grow throughout 2019.”
Register
now to receive a free copy of the report: bit.ly/travelmegatrends.
About
Euromonitor International
Euromonitor
International is the world’s leading provider for global business intelligence
and strategic market analysis. We have more than 40 years of experience
publishing international market reports, business reference books and online
databases on consumer markets.
Media
Contact:
Arianna
Anzaloni
Communications
Executive - Euromonitor International
Tel:
0044 (0) 20 7251 8024 EXT 5587 |