Revamping Tourism – Report Bundle (5 Reports)
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All the vital news, analysis, and commentary curated by our industry experts.
‘Travelers are in a constant desire for new experiences, which has compelled the travel sector to continuously keep changing. After the pandemic, the sector is now faced with big challenges. With the rise of premium and personalized tourism trends, travel apps, and sharing economy, industry suppliers have started revamping their standard operating procedures and business models accordingly.’
As a part of this bundle, you will gain access to in-depth insights available in the following reports:
- Thematic Research: Overtourism
- Thematic Research: Sharing Economy
- Thematic Research: Premiumization in Travel & Tourism
- Thematic Research: Travel Apps
- Thematic Research: Sports Tourism
Report 1: Thematic Research: Overtourism
‘Overtourism’ can affect any destination of any scale. After international travel came to a standstill due to COVID-19 in 2020, fears of the spread of infection minimized overtourism in the short term. Smart technologies can help combat overtourism within any respective destination or attraction by aiding the visitor experience and leading to a more responsible tourism model. Smart cities can generally affect the tourist experience, capacity, and planning alongside management and infrastructure which will undoubtedly contribute to more effective management, battling the effects of overtourism. As the concept of digital ‘vaccine passports’ sweeps industry news to ensure a safe recovery of international travel post-pandemic, this could be the next revolutionary system that will help better manage tourism flow.
Report 2: Thematic Research: Sharing Economy
The sharing economy is an economic model where private individuals share assets and services. This is often done using a community-based online platform. GlobalData classifies the sharing economy into several distinct categories of service. These include shared mobility, shared property, and shared equipment, among others. It has penetrated many industries, facilitated by improvements in the performance of digital platforms. Consumers’ increasing willingness to use mobile apps that support peer-to-peer business models, has also helped in this regard. Companies are now using GPS, data analytics, and AI (Artificial Intelligence), to connect consumers with owners in real time. The global sharing economy will generate $335 billion in revenue by 2025, according to forecasts.
Report 3: Thematic Research: Premiumization in Travel & Tourism
It has been well established that the pandemic has transformed many travelers into high-net-worth individuals. This trend will benefit the luxury tourism market while increasing the importance of premiumization and customized travel experiences for more travelers that can now afford to indulge in luxury products and services. Smart cities and destinations will help to create hyper-personalized services and products. The advanced technologies involved in a smart destination work together to gain a deep understanding of travelers’ needs, while optimizing experiences based on their preferences. Growth in the smart cities market will help to enhance personalization even further. For example, high-yielding travelers have flocked to Eastern Uruguay’s coastline in recent years. Beach towns such as José Ignacio, Manantiales, or Miamesque Punta del Este welcome tourists looking for exclusivity. The contribution to economic growth that high-net-worth travelers can provide makes them highly sought after. Affluent travelers can boost local economies while also helping to reduce the risk of overtourism. Popular destinations have realized this and are now placing a greater focus on high-value travelers.
Report 4: Thematic Research: Travel Apps
Travel apps allow companies to offer a more convenient service, which often saves both time and money for consumers. When looking specifically at OTAs (online travel agencies), the most successful companies in this sub-sector give little reason for customers to shop elsewhere when purchasing the main services and products that create a domestic or international trip. Acting as a ‘one-stop shop’, an app-focused provider such as Booking.com allow customers to book flights and accommodation, rent a car, and arrange for customized travel experiences all in one place. Additionally, the company provides customers with special ‘mobile-only’ deals to drive app usage and offer value for money. By saving customers time and money through app-based technology, online providers increase their chances of creating repeat business.
Report 5: Thematic Research: Sports Tourism
Sports tourism is vital to certain economies around the world, with many countries relying on the vast amounts of business coming their way. The global sports tourism market value was approximately $800 billion in 2019. Sports tourism revenue is generated through several avenues at these events. Local bars and restaurants see significant rises in revenue due to the increased number of visitors, while accommodation services also make plenty of money, providing lodgings for visitors. Fans attending events may also be inclined to buy team or athlete merchandise to keep mementos for the future. Fans who have traveled further to make the journey are more likely to spend money here, as their trips are less frequent than other fans who live closer. In the upcoming 2022 FIFA World Cup, Qatar has spared no effort in its attempt to bring about a radical transformation in its outlook and identity. The peninsular nation among the Persian Gulf oil-rich countries has leveraged its vast resources to build up its sports infrastructure to a scale only a few countries can match. FIFA can probably count themselves lucky that the FIFA World Cup wasn’t being held in 2020, or else they would have been forced to cancel this sporting spectacle.
Thematic Research: Sharing Economy (2021)
Thematic Research: Premiumization in Travel & Tourism 2021
Thematic Research: Travel Apps (2022)
Thematic Research: Sports Tourism
Table of Contents
Frequently asked questions
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Thematic Research: Overtourism (2021)
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Which modern technology can help tackle overtourism?
Smart cities can generally affect tourist capacity by contributing to more effective management and battling the effects of overtourism.
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Thematic Research: Sharing Economy (2021)
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What are the several categories of services the sharing economy has been classified into?
According to GlobalData, the several categories of services the sharing economy can be classified into are shared mobility, shared property, and shared equipment among others.
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Thematic Research: Premiumization in Travel & Tourism 2021
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Why popular destinations are now placing a greater focus on high-value travelers?
Affluent travelers can boost local economies while also helping to reduce the risk of overtourism.
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Thematic Research: Travel Apps (2022)
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What was the global sports tourism market value in 2019?
The global sports tourism market value was approximately $800 billion in 2019.
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Thematic Research: Sports Tourism
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Why ‘one-stop shop’ is a unique experience for tourists?
A ‘one-stop shop’ provider such as Booking.com allows customers to book flights and accommodation, rent a car, and arrange customized travel experiences in one place.
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