GlobalData – Page 3 – आवारा मुसाफिर

Virgin Galactic delays launch of commercial space flight service

May 6, 2022638 Views

Virgin Galactic Holdings Inc will delay the launch of its commercial space flight service to the first quarter of 2023, the space tourism company said on Thursday, citing supply chain crisis and labor constraints. Due to this announcement, Virgin Galactic could be potentially left behind in emerging space tourism market. Shares of the company fell nearly 2% in extended trading. "We look forward to returning to space in the fourth quarter and launching commercial service in the first quarter of next year," Chief Executive Officer Michael Colglazier said. FILE PHOTO: Richard Branson stands on the floor of the New York Stock Exchange ahead of the start of trading in Virgin Galactic in New York, Oct. 28, 2019. REUTERS/Brendan McDermid The Richard Branson-founded company had earlie...

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Outbound tourism from South Korea set to boom

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April 29, 2022566 Views

Due to plummeting traveller confidence and stringent COVID-19 measures, outbound tourism from South Korea reduced to mere fractions of what they were in pre-pandemic times. Nevertheless, with the country now easing some of its pandemic restrictions, tourism demand among South Korean travelers is set to flourish, finds GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘South Korea Source Tourism Insight Report including International Departures, Domestic Trips, Key Destinations, Trends, Tourist Profiles, Analysis of Consumer Survey Responses, Spend Analysis, Risks and Future Opportunities, 2022 Update’ reveals that outbound tourism declined by 80.6% YoY from 2019 to 2020, to just 5.6 million international departures. Prior to COVID-19, South Korea was the thi...

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Subscription services could potentially transform the travel industry

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April 23, 2022746 Views

Subscription services have disrupted almost every industry, but the customer-focused model remains relatively nascent in the travel industry, observes GlobalData. The leading data and analytics company notes that its popularity could rise as travel subscriptions, whereby travelers typically pay a monthly fee to receive benefits such as discounted prices and personalized travel content, represent a compelling way for businesses to build brand loyalty. Hannah Free, Travel and Tourism Analyst at GlobalData, comments: “More and more businesses are moving away from the traditional product economy to the ‘subscription economy’. The subscription economy refers to the increasing presence of subscription-based businesses in today's ecommerce landscape as opposed to the traditional pay-per-produ...

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Eco badges will grow in importance for tourism industry

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April 19, 2022872 Views

Travelers are now seeking increased transparency, says GlobalData Many travelers now require higher levels of transparency from companies in terms of their environmental performance, with GlobalData’s poll finding that almost 75% of global consumers agreed that the introduction of sustainability labels on products should be mandatory. The leading data and analytics company notes that these badges help tourism companies to boost transparency, offer responsible alternatives to travelers, and demonstrate positive environmental performance. Ralph Hollister, Travel and Tourism Analyst at GlobalData, comments: “The adoption of badges that denote high performance concerning environmental benchmarks makes companies’ sustainability claims seem more trustworthy, which will increase demand for...

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AR set to transform the travel and tourism industry

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April 18, 2022589 Views

Will provide more informative and enhanced experience for travellers, says GlobalData Companies in the tourism sector are investing in emerging technologies such as augmented reality (AR) to improve traveller experience after the industry was severely impacted by the COVID-19 pandemic and geopolitical tensions, says GlobalData. The leading data and analytics company notes that AR is set to bring the tourism industry closer to the metaverse, which could provide a venue for people to meet, plan trips together, and learn about different historic sites in a virtual environment before they travel. According to GlobalData’s latest report, ‘Augmented Reality in Travel & Tourism (2022)’, the industry is using AR to adapt to challenges such as last-minute cancellations by improving t...

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Turkey to benefit from rise in budget-conscious travelers

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April 7, 2022533 Views

With traveler confidence taking yet another hit amid the rising cost-of-living across Europe, Turkey will emerge as the destination of choice for budget-conscious travelers in 2022, finds GlobalData, the leading data and analytics company. Research from GlobalData’s Traveler Spending Patterns database shows that in-destination spending is relatively low in Turkey, despite the average stay for inbound tourists (9.7 days) being the second-longest in Europe in 2021. Compared to average inbound expenditure in popular leisure destinations such as Spain and Portugal, travelers could potentially save anywhere between $230 and $770 per trip if they travel to Turkey instead of these destinations. FILE PHOTO: A man sits in an area marked by cordons of ropes and wooden stakes to enforce social...

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Travel companies in fix due to rising energy prices

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April 6, 20221123 Views

Holiday surcharges are a real possibility in the travel and tourism industry as companies grapple with the rising energy prices. Segments such as lodging, transportation and tourist attraction etc., will certainly be impacted. Therefore, travel and tourism businesses will be in dilemma whether to pass these additional costs on to the consumers or absorb the charges themselves, observes GlobalData, a leading data and analytics company. Unfortunately, this has come at what was expected to be a pivotal year in the travel and tourism industry. Traveler confidence is returning, but low-cost travel options remain highly sought after, especially after the economic hardship due to the pandemic. According to a GlobalData Q3 2021 Global Consumer Survey, *58% of respondents said that ‘cost’ was t...

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International arrivals to ASEAN to reach 142 million in 2024

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March 28, 20221022 Views

Global arrivals to the Association of Southeast Asian Nations (ASEAN) are expected to grow from 136.9 million in 2019 to 142 million in 2024, driven by the region’s rich heritage and natural attractions, improved tourist facilities, affordable connectivity, rising consumer class and geographic proximity to China and India, forecasts GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘ASEAN Destination Tourism Insight Report including International Arrivals, Domestic Trips, Key Source / Origin Markets, Trends, Tourist Profiles, Spend Analysis, Key Infrastructure Projects and Attractions, Risks and Future Opportunities, 2022 Update’ reveals that the ASEAN region boomed as a destination prior to the COVID-19 pandemic. Inbound arrivals to the 10 ASEAN member coun...

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Millennial and Gen Z travelers could be the future demand drivers

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March 23, 2022399 Views

Should be targeted with low cost off-peak travel options, 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 analytics company notes that a significant contributing factor as to why there are so many holiday takers in the 25-34 age range is their ability to travel during off-peak periods. Many young millennial and Gen Z travelers have no children or major responsibilities in terms of occupational and financial obligations. FILE PHOTO: A young tourist in Auckland, New Zealand, Nove...

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Travel brands need to use social media to directly engage with younger cohorts

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March 4, 2022424 Views

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 in social media-related jobs in the travel and tourism industry from 2020 to 2021. This showcases that an increasing amount of travel companies have acknowledged the importance of social media for brand engagement and customer service. According to GlobalData, 30% of Gen Z and 32% of Millennials state that direct engagement with a brand is a key driver of a purchase. These percentages are significantly higher when comp...