2018 TRAVEL ECONOMY
Travelling is a dream of every toddler gearing up for his vacations, it is indeed a fantasy of every Indian woman who devotes her entire life for her family and craves to spend some valuable time and cherishing moments with her family.
It is indeed the prime requirement of a politician who has to deliver speeches in different places and not to forget it is the routine of an entrepreneur who has to attend his meetings and sign bulky deals and projects.
Tour and activity providers are spotting trends which is a natural part of the trade
With continued growth of travel industry and evolving travel preferences set against the backdrop global safety concerns and the over-tourism crisis, destination companies, tour operators and activity providers will be faced with higher expectations from more sophisticated travellers.
Here’s the breakdown of 2k18’s travel trends and how the industry can get ready for a whirlwind year:
Experiences and memoirs are still the basis of travel industry: Naturally, tourists and basically travellers around the world are still searching for experiences that are unique and, dare I say, authentic.
Emotionalism is the basic attribute of humans and not to neglect Indians and so they search for those destinations that can give them excellent “selfies” to post on social sites and earn hundreds of appreciation in form of likes.
Generational differences are diminishing: Just when the industry and marketing professionals thought they had neatly carved out and defined each generation’s needs and wants, the travel market evolved yet again. Now the 30-50s crowd is more interested in soothing and appealing getaway while the oldies are interested in adventures.
In 2k18, expect to meet Baby Boomers and Millennials and curious and tech savvy Gen Zs coming to their own.
Authentic culinary tourism: Last year was all about eating only the most “Instagram-worthy meals” and going to highly acclaimed restaurants, this year it’s going to be plain and simple, I repeat plain and simple. The future of culinary tourism however will move to elegant and unique travel experiences. Thus travel industry has lot to gain from culinary tourism.
Work and travel: Working nineto five every day does not seem so bad when you are a full-time traveller. Rather than continuing last years “bleisure” trend, business travellers in 2018 will extend the concept for even longer period of time.
Nowadays employees have more freedom to extend professional business, therefore, working full- time or even part-time as a “digital nomad” will be a trend this year. Therefore apps like “Ola cabs” will provide more facility and thus will have major blooming in their market value
Solo travel: This was a major theme in 2017, especially solo female travel, there will continue to be more options and inspiration for solo travellers this year. But this year will witness a surprising drift to “multigenerational travel” when family members and kin will reconnect to create memories.
Options for all ages will be a necessity for all travel brands, whether it be accommodation or activities, they will need to cater to not just one age range.
Technology trends that will take travel industry by storm:
The travel industry has got their work cut out for them as we head further in 2018.
The travel technology market in India is now growing fast. With initiatives like “Digital India”,Government of India is indeed working on ways and means to promote technology in all sectors. This is why travel tech market is growing by leaps and bounds in recent years.
Every year, certain key trends emerge within the travel industry, helping to improve the customer experience, change the way people book their travel, or make internal process quicker, simpler, or more acute. For 2018, the prediction is that the following three trends will come to define the year:
Virtual Reality: It has been one of the dominant technological trends in general throughout the past few years, with VR headsets emerging as mainstream consumer product. Although its benefits are already being explored in travel industry, this trend will continue this year as well.
It makes users feel as though they are physically present in a digitally created environment. The hotel booking websites are harnessing the potential of allowing people to use VR technology to explore virtual recreations of hotel rooms. It has the power to arouse the imagination and awake the wanderlust in most travellers.
Augmented reality: Another emerging trend in the travel industry, which is closely related to virtual reality, is that of augmented reality. Unlike VR, the basic concept of AR is to use digital technology to alter the experience of real-life surroundings, meaning that, when viewed through compatible device, they enhanced in some way.
The best known example of this is “Pokemon Go”, which allowed people to explore real locations and see and collect Pokemon characters in those. This reality is especially appealing to those in travel industry, because it provides the potential to enhance real-life environments via technology.
Artificial Intelligence(AI) and IoT: Finally, another key trend that will continue to emerge in travel industry throughout 2018 is the use of artificial intelligence. In simple terms, this means utilising computers to carry out what were traditionally seen as a human task, because they required intelligent interactions or ability to learn.
Another technology i.e. “chatbot” gives instantaneous answers to customers. It is because of this that it has now become possible toeasily personalise a user’s destination discovery and make purchases with tailor made, contextual insights. IoT is now gaining more power as it will let flight travellers now get to witness an all new air and ground experience.
This technology uses sensors and other connected devices. With Google supporting Machine Learning Iot has gained lot of momentum and travel industry is sure to get benefit from it.
Revolution made by mobile apps: The travel based mobile apps are the 7th most downloaded category and that 60 percent of smartphone users prefer travel apps. We travel solo is India’s first solo community, launched to provide a never before solo travelling experience. Oyo rooms is helpful for travellers who go for last minute hotel deals and travel deals.
Trip planner helps you to find the most popular places and also lesser known places across India. Make my trip is a leading player online flight bookings in India. Goibibo is India’s largest hotels and air aggregator and is the most trusted app by travel agencies. Thus mobile apps are providing great support to travel industry.
To conclude we can say rapid progress is indeed happening in the travel industry where technology is turning out to be the key diver. Every day, new and innovative technology is being developed, in order to make exciting, adventurous and tempting industry.
In the 21st century, hoteliers have technology at their fingertips and this gives them a world of possibilities – it’s all about digitalisation. After all, the key to success in any business, but especially in hospitality, is to be one step ahead at all times.