The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.Learn More
Euromonitor International released today the 2016 WTM Global Trends Report at World Travel Market (WTM) London, the leading travel and tourism event worldwide, revealing how the travel industry is developing within the fast-changing global economic and social environment.
Caroline Bremner, Head of Travel at Euromonitor International, comments “2016 has served up a host of geopolitical tensions. However, the travel industry is resilient with 4 percent growth in trips taken internationally and domestically. Travel thrives on disruptive innovation and the outlook for the year ahead is no exception.”
Hotels and fashion brands are teaming up to offer pay-as-you-go convenience. Travellers, with millennials at the forefront, will leave their suitcases at home, preferring to rent clothes and shoes at their destination. This trend represents an evolution of the sharing economy, which is quickly moving beyond cars and holiday apartments.
Thrill-seekers who are short on time but big on new experiences are opting for ‘microadventures’ in order to fulfil their passion. As part of the general consumer shift from material possession towards actual experiences, people with busy lives increasingly look for small and achievable adventures. Airlines and tour operators – with hotels to follow – are embracing the concept by targeting ‘bleisure’ guests – individuals who stay on for an extra night or two to add a leisure aspect after a business trip.
Changes to the way we work, live and travel are leading to the creation of a new species of consumers – the ‘Roamie’ – a 21st century nomad who travels the world and craves all amenities wherever he or she stays. This is a natural step on from the co-living community movement, which has been around for decades in one form or another. Coupled with the rise in popularity of solo travel, this trend is now moving into the travel arena with start-ups offering co-living spaces around the world.
To download the complete report for free, visit: http://go.euromonitor.com/WTM-London-2016.html