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GlobalData
GlobalData

Travel & Tourism

Millennial and Gen Z travelers should be targeted with low cost off-peak travel options to drive future demand, says GlobalData

With two billion holiday takers within the age range 25-34 in 2021, the second highest for its number of holiday takers, behind 35-49, travel and tourism companies need to target millennials and Gen Z with offerings away from busy summer periods that create value for money and authentic experiences, found GlobalData. The leading data and […]
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Inbound air travel set to grow by almost 9% over pre-pandemic levels in East Africa by 2024, according to GlobalData

According to GlobalData’s recently published report, ‘Destination Market Insights: East Africa (2022)’ inbound trips via air travel in East Africa, are set to surpass pre-pandemic levels by 8.8% in 2024. The leading data and analytics company found that projected growth in air travel will be due to investment in airport infrastructure and East Africa’s global […]
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Travel brands need to use social media to directly engage with younger cohorts, observes GlobalData

With social media proving to be the most cost-effective and impactful way of directly getting engaged with younger consumers, travel companies have begun to invest time and resource into this space for faster outreach and connection, finds GlobalData, a leading data and analytics company. GlobalData’s Job Analytics Database reveals that there was a 175.8% increase […]
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London’s tourism industry to see boost from £10 million campaign but COVID-19 challenges remain, says GlobalData

London’s tourism sector will benefit from the planned multi-million-pound campaign to drive visitors to the city, says GlobalData. However, the leading data and analytics company notes that the tourism industry remains in a precarious position as a result of the COVID-19 pandemic. Hannah Free, Travel and Tourism Analyst at GlobalData, comments: “London’s tourism industry has […]
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46% of travel app venture financing deals involved ridesharing, rental, or hailing companies in 2021, says GlobalData

Out of the 26 travel app venture financing deals in 2021, 46% of them involved ridesharing, rental, or hailing companies, according to GlobalData. The leading data and analytics company notes that this significant percentage showcases renewed confidence from investors as the impact of the pandemic lessens, as well as their keen interest in technologically advanced […]
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US average overseas tourism expenditure per person reached $3,580 in 2021, making it the most valuable globally, says GlobalData

With an average spend per resident amounting to $3,580, the US source market is projected to be the most valuable globally in terms of average overseas tourism expenditure in 2021, according to GlobalData’s latest forecast. The leading data and analytics company notes that the willingness of the US market to dedicate significant amounts of its […]
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Cruise intermediaries’ revenue increased by 65% due to pandemic which drove cruise tourists to book direct, says GlobalData

As a result of the COVID-19 pandemic, cruise bookings have shifted away from intermediaries with cruise tourists opting to book directly with the cruise line rather than through an Online Travel Agent (OTA) or the high street, finds GlobalData, the leading data and analytics company. Industry revenue from cruise intermediaries in 2021 increased by 65% […]
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Generation Hashtag will be a key driver for niche tourism growth driven by experience economy, according to GlobalData

According to GlobalData’s recently published report, ‘Niche Tourism, 2022 Update – Thematic Research’, demand for niche tourism holidays and experiences is growing among Generation Hashtag (defined as people born between 1991 and 2005). Craig Bradley, Associate Travel & Tourism Analyst at GlobalData, comments: “Generation Hashtag is a driving force behind the experience economy, which is […]
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Luxury tourism recovery quicker than budget tourism in US due to increase in high-net-worth individuals, says GlobalData

The pandemic has transformed many travelers into high-net-worth individuals and made the super-wealthy even wealthier, according to GlobalData. The leading data and analytics company notes that 29% of respondents in one of its live polls state that their budgets are ‘a lot’ or ‘slightly’ higher than pre-pandemic. The luxury leisure market experienced a strong start […]
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Reintroducing European city tourism will be tough to balance with needs of locals, says GlobalData

Since the emergence of low-cost carriers and budget forms of accommodation, the popularity of city break tourism has increased significantly within intra-continental travel across Europe, says GlobalData. According to the leading data and analytics company*, 38% of respondents stated that they typically undertake this type of trip, making it the third most popular globally, behind […]
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Indian tourists to be highly sought after, says GlobalData

Indian tourists will be some of the most desirable travellers, given India’s growing economy, young population and rising middle class, according to GlobalData. The leading data and analytics company notes that the country is projected to reach record levels of 29 million outbound trips by 2025 – a buoyant outlook considering the strains of COVID-19. […]
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