Global Travel Industry Trends and Forecast for 2016

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The bygone year can be easily termed as a productive one for the travel industry. In a relatively global dull situation when other business verticals were going downhill; the travel and tourism industry had a rising period. According to recent research studies from reliable sources proved that there was an average 5-6% in the global travel industry. This is indicated as a positive trend despite turbulence in several factors in different parts of the world.

The travel industry is basically judged upon 2 major segments-they are inbound, outbound travel trends. Of these, outbound travel section is of utmost importance, trends and demands for the first 8 months in 2014 and the whole of 2015 are seen as positive indicators for a blissful period in the industry in the upcoming periods.

Numbers say it all-

The outbound travel segment boosted up by around 4.5% in terms of trips, the same had a growth of 2% when talked about spending. Whereas, the world outbound travel turnover enjoyed a super growth of 6%.

Asia, South along with Northern America generated profits, wherein Europe posted the maximum growth rate. On the other side, inbound travel segment had a rise of 4.8% in terms of international tourist arrivals, under this America outperformed other regions with Asia standing at a close second.

Trends for 2016-

2015 is accepted as a cementing platform for a hyperactive 2016- it is expected to be an astute year in which leisure travel as well as business trips will see record-breaking heights. Here are few predictions (most likely) trends for travel industry in 2016.

Traffic will be more organic-

Today, 50% of the trips are organically driven, this ratio is ought to increase in 2016. However, the paid segment is not far off as customers rooting up through them provide travelers with a larger average order value (the spending value is more).

Promoting travel plans on social platforms is an excellent format of spreading brand awareness and creating loyalty and superior customer relationship. Research show social promotion budget in the travel industry passed beyond $8.3 bn in the year 2015. Hence, it goes without saying that 2016 will be a bigger year, watch out!!!

“#Bleisure trips is the newest trend in #travelindustry where the traveler mixes up business with leisure”

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Mobile Traffic is the king for travel industry-

According to a recent find, 65% of the total world population uses mobile phones on a regular basis. This percentage is predicted to grow by another 5% by 2017. Going by the data from the global hotel industry 50% of their bookings happen through mobile devices and the count is constantly increasing. Travel websites really need to be responsive as unresponsive sites have a bounce rate close to 80%; thereby losing the online race due to a self-made mistake.

Mobile payment options have come up as a boom for the global travel industry as making payments has turned to be an utterly simple process. However, safe guarding the information is equally getting tough as providing confidentiality to customer details is very important. Travel websites need to update their platform within regular intervals in order to keep-up with the traffic inflow.

Booking engines will be more active than the live travel agents-

Travel booking websites are growing in numbers and so is the traffic routing from them. At present, around 57% of the total travel bookings annually are made through the online travel websites. Traditional travel operators and companies which work more offline will have to restructure their working styles and restart with fresh innovative ideas in order to stay functional in the industry for the year and beyond. They need to learn how to cater to the actual requirements of the clients-‘GIVE WHAT IS ASKED FOR’ is the practice that is successful.