GlobalData – Page 4 – आवारा मुसाफिर

Online travel market set to reach $765.3 billion by 2025

February 23, 2022977 Views

GlobalData says, COVID-19 is accelerating digitization COVID-19 has accelerated the need for companies within the travel and tourism industry to rapidly invest in digital strategies including the global online travel market which is expected to grow at a compound annual growth rate (CAGR) of 8% to reach $765.3 billion between 2022 and 2025, according to GlobalData. The leading data and analytics company notes that due to more consumers shifting to e-commerce, if players fail to invest in a robust digital strategy, they will allow their competitors to take a greater share of the market. FILE PHOTO: A man rides a horse at Cha-Am Beach, amid the coranavirus disease (COVID-19) outbreak, in Phetchaburi province, Thailand, December 25, 2021. REUTERS/Athit Perawongmetha GlobalData’s lat...

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Acquisition by Tata takes Air India among top 10 airlines on social media mentions

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February 18, 20221213 Views

GlobalData : H2 2021 Global airline companies are dodged by the COVID-19 travel restrictions while new variants are playing a key role in hindering the recovery of the companies, despite the re-opening of international borders. Against this backdrop, American Airlines, Inc. (American Airlines) has emerged as the most mentioned airline company among the top 10 airline companies based on social media conversations of Twitter influencers and Redditors in H2 2021, finds GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Top 10 Airlines: Social Media Share of Voice H2 2021’, which analyzed the social media conversations around the leading airlines, reveals that the remaining top nine positions were occupied by Delta Airlines, Inc (Delta), Southwest Airline...

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US tourists stay longer, spend the most

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February 17, 2022929 Views

Most valuable globally, they can help revive many destinations across the globe 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 disposable income to international trips could help to drive the recovery of many destinations across the globe. FILE PHOTO: Passengers line up at John F. Kennedy International Airport on Christmas Eve in Queens, New York City, U.S., December 24, 2021. REUTERS//Dieu-Nalio Chery GlobalData’s latest thematic report, ‘Premiumization in Travel & Tourism (2022)’,...

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Tourists booking cruise trips directly with liners due to pandemic

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February 15, 2022694 Views

Revenue increase of intermediaries not at par with increase in number of cruise tourists 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. FILE PHOTO: People pause to look at Norwegian Cruise Line's ship, Norwegian Breakaway, on the Hudson River, in New York. (AP Photo/Richard Drew) Industry revenue from cruise intermediaries in 2021 increased by 65% year-on-year (YoY) from $11.8 billion to $19.5 billion. However, cruise passengers have increased at a significantly higher rate. According to Cruise Lines International Association (CLIA), cruise tour...

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Generation Hashtag will be a key driver for niche tourism growth

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February 3, 20221215 Views

Niche Tourism is now recognized across the entire industry with many companies looking to differentiate their brand from others. Niche tourism has many synergies with the experience economy because niche tourists are constantly searching for engaging and unique experiences which match their interests. In recent years, mainstream holiday providers have identified niche tourism as a potential growth area. Subsequently, niche tourism is no longer confined to small independent companies. Niche tourism within the travel industry can no longer be considered ‘small’. With a growing global middle class and better-educated population, particularly in developing and densely populated countries in the APAC region, more tourists seek more wholesome, immersive, and fulfilling touristic experiences....

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Luxury tourism recovery quicker than budget tourism in US

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January 24, 2022891 Views

GlobalData says, it is due to increase in high-networth individuals The pandemic has transformed many travelers into high-networth 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 to recovery as wealthy consumers, now with higher levels of disposable income, began to travel once again in 2021. FILE PHOTO: A horse-drawn carriage is pictured in Central Park during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., November 16, 2021. REUTERS/Carlo Allegri When looking at the US spe...

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Google represents ongoing threat to online travel agencies, says GlobalData

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January 14, 2022860 Views1

COVID-19 had a serious impact on online travel agencies (OTAs), according to GlobalData, which notes that the OTA market value decreased by a gruesome 60.4% year-on-year (YoY) in 2020. The leading data and analytics company reveals that this strain has amplified OTA’s existing concerns around the growing presence of Google in the market, and how the tech giant’s control could impact competitivity and, therefore, consumer choice. Ralph Hollister, Travel and Tourism Analyst at GlobalData, comments: “Google’s growing presence in online travel will be ominous for OTAs that have no choice but to rely on the search engine for web traffic. Regulators are starting to control Google’s practices, but the company has to be treated differently due to its position as a dominant search engine, as we...

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Gloomy outlook for global recovery

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January 11, 20221228 Views

World Bank sees sharp world growth slowdownOmicron to deter recovery prospects in 2022Tourism dependent economies to face major headwinds Only one in 10 World Economic Forum members surveyed expects the global recovery to accelerate over the next three years, a poll of nearly 1,000 business, government and academic leaders found, with only one in six optimistic about the world outlook. On Tuesday, The World Bank also cut its forecasts for economic growth in the United States, the Euro area and China and warned that high debt levels, rising income inequality and new coronavirus variants threatened the recovery in developing economies. FILE PHOTO: A helicopter flies over the ski resort during the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 23, 2020...

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Another European ski season could be hanging in the balance

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November 28, 2021409 Views

Demand for ski trips in Europe is expected to take a hit this year due to rising COVID-19 cases, according to GlobalData, which notes that these destinations could see reduced footfall as early as December. The leading data and analytics company notes that December usually sees budding skiing travelers heading to Europe, which offsets the continent’s post-summer slowdown in travel. For example, Europe saw domestic and outbound trips increase by 38.3% from November to December in 2019 – the last year not impacted by the pandemic. FILE PHOTO: An aerial view shows the ski resort Bukovel amid the outbreak of the coronavirus disease (COVID-19) near the village of Polianytsia in Ivano-Frankivsk Region, Ukraine December 27, 2020. REUTERS/Sergiy Karazy Ralph Hollister, Travel and Tourism A...

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Slovenia could become the adventure tourism capital of Europe

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November 17, 2021906 Views

Inspired by its recent international tourism campaign focusing on adventure tourism, Slovenia is expected to see inbound tourism rise to 5.7 million arrivals by 2024, a 22% increase on pre-pandemic levels, according to GlobalData. The leading data and analytics company notes that ‘adventure and sport’ is the fifth most popular holiday type, and has particular resonance with Slovenia’s traditional visitors: Czechs and the Dutch. Craig Bradley, Associate Travel & Tourism Analyst at GlobalData, comments: “Slovenia is home to some of the most incredible landscapes in Europe but has surprisingly passed many tourists by. However, the Slovenian Tourist Board’s recent campaign has brought the destination to life by focusing on adventure tourism, natural beauty and national parks.” I...