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Companies in a range of industries within the tourism sector are doing everything possible to decrease their recovery periods without parting with large sums of cash. Through increasing exposure and reaching new markets, strategic partnerships may be able to assist. Without the financial risk associated with that of a merger or acquisition, this affordable alternative […]
Airbnb’s adaptable business model and cost-cutting measures have revived hopes of a 2020 IPO, says GlobalData
A few months ago, the chance of Airbnb’s planned IPO going ahead in 2020 was slim to none. As the COVID-19 pandemic swiftly ground domestic and international travel to an abrupt halt, travelers cancelled their bookings en masse and its host community looked to list their properties elsewhere. However, Airbnb’s recent performance means that a […]
M&A may help travel agents find route out of pandemic as consumer habits change
Opportunities can arise out of crisis and it is often a time used by organisations to drive significant change. According to GlobalData, a leading data and analytics company, 41% of travellers have increased their social media browsing time, 26% are posting more regularly and 28% are spending additional time reading online reviews and blogs than prior […]
Virgin Voyages’ purification system is bold yet necessary statement, says GlobalData
Following the news that Virgin Voyages claims its air purification system can kill 99.9% of viruses; Ben Cordwell, Travel & Tourism Analyst at GlobalData, a leading data and analytics company, offers his view on the current situation: “A total 48% of respondents globally want to receive news about initiatives adopted by brands during the COVID-19 […]
Promoting locations like Hainan can bring Western tourists back to China, says GlobalData
The COVID-19 pandemic has decimated the world’s tourism industry. As restrictions start to be lifted, China faces an uphill task of attracting Western tourists due to the connotations of the virus originating in Wuhan. However, promoting Hainan, which is around 30 times the size of Hong Kong, will allow the visitors to see another side […]
Increase in consumer confidence could lead to a spike in UK domestic tourism
As lockdown is gradually eased, UK residents have a more positive view of the coronavirus situation compared to ten weeks ago, according to GlobalData’s COVID-19 Consumer Survey. The number of people saying they felt the situation would get a lot worse in the UK was 44% lower in week ten compared to week one. Conversely, […]
Air bridges offer hope for UK tour operators but barriers remain
Air bridges are offering UK tour operators hope of resuming some form of service this summer, but as overnight domestic travel is still not possible it is clear there that the current situation is as bleak as it has ever been for operators, says GlobalData, a leading data and analytics company. TUI and Jet2holidays are […]
Revised flight schedules exclude some Greek Islands and could negatively impact its tourism economy
As Greece prepares to welcome tourists after a temporary shutdown, certain islands could be excluded from flight schedules as airlines start to operate a reduced service. A lack of accessibility to certain islands will be damaging for local businesses in the retail, tourism and hospitality industries, in addition to the previous three-month shutdown of the […]
UK Government continues to hinder recovery of its travel sector, says GlobalData
Following recent news that the UK will not be taking part in an EU-led data-sharing project to reboot tourism; Ralph Hollister, Travel & Tourism Analyst at GlobalData, a leading data and analytics company, offers his view on the situation: “Delayed reaction to slow the spread and buffer the economic impact of COVID-19, combined with current […]
British companies showing adaptability and offering more domestic options is a positive move, says GlobalData
According to GlobalData’s Week 10 COVID-19 Survey, 44% of British respondents are extremely concerned about the coronavirus pandemic, whilst only 2% are not concerned. These figures highlight the impact that COVID-19 is continuing to have on the British psyche and does not bode well for the international tourism market. “According to the same survey, 40% […]
Generation X travel plans most disrupted by COVID-19 in UAE
Generation X has experienced the most disruption among age groups in the United Arab Emirates (UAE) when it comes to the cancelation of travel plans. Within this demographic, over a third of respondents ‘strongly agree’ they have had to change or cancel upcoming domestic (36%) and international (41%) plans, according to a survey by GlobalData, […]
Prime Minister’s support for cruise industry is only short-term solution
Following the news that Prime Minister Boris Johnson has said the UK Government will support cruise companies in any way they can; Ben Cordwell, Travel & Tourism Analyst at GlobalData, a leading data and analytics company, offers his view on the current situation: “Boris Johnson’s support for the British cruise industry will be welcomed news for cruise liners around the UK. However, the industry still faces a number of difficult […]
Deal activity in travel & tourism sector rebounded during week ended June 7 after three consecutive weeks of decline
The number of deals announced in the global retail sector grew by 13.3% during the week ended June 7, 2020, compared to the previous week, according to GlobalData’s deals database. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The retail sector is among the worst hit due to COVID-19 and has been witnessing inconsistent deal activity […]
Expedia shutting multifamily business illustrates slower demand recovery in urban areas, says GlobalData
Following a recent announcement that Expedia Group has permanently closed its multifamily solutions business; Ralph Hollister, Analyst, Travel & Tourism at GlobalData, a leading data and analytics company, offers his view on the situation: “The current streamlining of operations within Expedia, combined with a lack of urban demand due to COVID-19, means the company will […]
Travel resumption and robust hygiene measures key for revival of travel and tourism in Singapore, says GlobalData
Following the news that visitor arrivals to Singapore hit historic low in April 2020; Animesh Kumar, Director of Travel and Tourism Consulting at GlobalData, a leading research and consulting company, offers his view: “Singapore witnessed almost 100% decline in international tourist arrivals as only around 750 visitors arrived in April 2020. According to Singapore Tourism […]
Marriott has a more realistic view on demand recovery in Europe
Following a recent webinar event hosted by New York University, which saw the senior executives of Accor, Sebastien Bazin and Marriott, Arne Sorenson stating opposing outlooks regarding how demand recovery in Europe will play out; Ralph Hollister, Analyst, Travel & Tourism at GlobalData, a leading data and analytics company, offers his view on the situation: […]
Travel intermediaries need to increase transparency to restore consumer confidence, says GlobalData
Transparency will be the key to provide service to the future tourists. During this COVID-19 pandemic, many aspects of future travels have been labelled as ‘uncertain’. Intermediaries offering more information and clearer policies will indisputably be at an advantage in terms of restoring consumer confidence, says GlobalData, a leading data and analytics company. Issues surrounding […]
Expedia Group’s US$275m partner recovery plan should create stronger position post COVID-19
While it will cost the company money, Expedia Group’s US$275m partner plan is worth the hit for increased partner engagement, which will be essential for post-pandemic recovery, says GlobalData, a leading data & analytics company. Johanna Bonhill-Smith, Travel & Tourism Analyst at GlobalData says: “During this battle with COVID-19, a lack of collaboration has been […]
Online reviews and blogs increasingly important to the Americas millennial tourism market
As a growing number of consumers are spending more time online during the pandemic and taking more notice of online reviews and blogs, the importance of positive feedback for tourism companies becomes even greater, according to Globaldata a leading data and analytics company. According to GlobalData’s Coronavirus (COVID-19) Consumer Survey, 48% of millennials from Brazil […]
Virtual reality may become a key component in the booking process
A total 45% of global travelers remain extremely concerned about the outbreak of COVID-19, according to GlobalData’s latest consumer survey.This accentuates that consumer uncertainty remains one of the greatest barriers facing operators. Making virtual reality (VR) a key component in the booking process may act as an additional tool to ease consumer uncertainty, creating an […]