Tourism Market Segmentation, Tourism Deep Dive Market Share, Market Major Player
Posted by kenresearch on January 25th, 2019
Tourism is a social, cultural and economic phenomenon which involves the movement of people to countries or places outside their usual environment for personal or business/professional purposes. These people are called visitors, tourists or excursionists (residents or non-residents). Hospitality is an important term for tourism: it includes lodging, event planning, theme parks, transportation, cruise line, traveling and additional fields.
In the tourism sector, the holiday provider’s aspect to offer personalized holidays to attract a wide variety of customers. The sector has numerous different business and technological issues such as cyber security and technical glitches compel holiday providers to update the security of their systems regularly and employ internal IT staff to address any technical concern as it arises.
According to study, “Tourism Deep Dive: Holiday providers - Strategic issues and market trends affecting holiday providers” some of the major companies that are currently working in the tourism deep dive: holiday providers are Travel Republic, 5bogota, Pack Up + Go, Thomas Cook, Expedia, Booking.com, Aban Offshore Ltd., Accor Group, Crown Ltd., Balkan Holidays Ltd., Fred Harvey Company and G Adventures.
An impact of tourism is defined by three categories: economic, social, and environmental. These impacts are analyzed using data gathered by businesses, governments, and industry organizations. An economic impact normally focuses on changes in sales, income, and employment in a region resulting from tourism activity. Some trends for driving the tourism market are adventure tourism, medical tourism, and sports & game event tourism etc. Adventure tourism is a type of tourism involving travel to remote or exotic locations in order to take part in physically challenging outdoor activities. Medical tourism is the process in which a patient travels to another destination for medical or health and wellness services. Sports & game tourism is the act of traveling from one location to another with the goal of being an audience member to a sports competition of any kind. In addition, some of the latest trends prevailing in the Indian tourism industry are growing options for low budget travelers, visa on arrival boosting tourism, the rise of boutique hotels, exploring new destinations and travel tradeshows promoting tourism etc.
On the basis of type, global tourism market is segmented into an international tourism and domestic or local tourism. On the basis of industry, the market is segmented into traveler accommodations, travel management & reservations, air transportation. On the basis of activities, the market is segmented into airline operation, automotive rental, traveler accommodation services, hospitality services, and tour arrangement services.
Some technology trends in tourism are mobile technology, augmented reality or virtual reality, internet of things, virtual assistants, big data and blockchain etc. Nowadays the cell phone has become a tour guide, travel agency, best restaurant locator, map, and more. By mobile technology, the user has all the pertinent information about their trip in the palm of their hand using an app that they already used. Augmented reality in tourism has a great potential to enhance travelers' experiences: its apps provide useful information, navigation, guides, and translations. Internet of things includes integrating sensors connected to the Internet inside items like cars, suitcases, and buildings. Virtual assistant creates an interactive and personalized experience for consumers: it can perform many tasks such as hotel reservations, cruise booking, vacation planning, travel budget planning, booking flights/trains/cars, canceling bookings and providing timely travel plan reminders etc. Big Data technologies such as Hadoop and cloud-based analytics provide ample data storage space and presents information collected from a wide range of sources in a structured manner: it enables tourism industry to take immediate decisions as per the changing customer demand.
Government bodies and organizations such as united nation world tourism organization are promoting tourism in order to attract diverse tourists across the globe. These initiatives are leading to the growth of the global tourism market. It is estimated that tourism will be the world’s largest industry by 2020.
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Ankur Gupta, Head Marketing & Communications
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