releasing its 2008 Travel Industry Trends Report, which finds that five
key trends will have a significant impact on industry expectations,
strategies and brands in 2008.
THE CHANGING CUSTOMER: Niche Travel and Mini Vacations
Today more and more people are bypassing the traditional, two-week getaway in favor of mini-vacations of a week or less. According to Deloitte's October 2007 Travel Survey, 47% of respondents said they take more short vacations and fewer long ones than they used to.
The introduction of Las Vegas-style resort casinos will likely continue to drive significant revenue growth in Asia Pacific, where casinos and other regulated gaming are projected to grow from $14.6 billion in 2006 to $30.3 billion in 2011.
SAFETY AND SECURITY
According to a global survey conducted by Synovate, 17% of air travelers across the globe said that the new security requirements will actually deter them from traveling by plane for leisure, and 10% said the measures would deter them from traveling by plane for business.
Deloitte's October 2007 Travel survey found that in the past twelve months, 83% of respondents say they used the Internet to research and/or purchase travel primarily because they found it easier and more convenient or felt that they got better prices.
ENVIRONMENTAL AND SOCIAL RESPONSIBILITY
Heightened media attention and instant access to information are helping consumers become more attuned to the potential consequences of climate change, poor nutrition and other social issues. According to the Natural Marketing Institute, 17% of respondents consider themselves 'green buyers' while another 21% are focused on natural/organic products.
Source: Travel Industry Wire