New research released this week suggests that the travel sector will experience ongoing growth in 2015, with a varied clientele -- from multigens to pet owners.
Stat: USTOA Forecasts Positive 2015 for Package Travel
At the United States Tour Operators Association’s Annual Conference & Marketplace in Boca Raton, Florida, details of a biennial economic impact study conducted by PriceWaterhouseCoopers were shared with attendees. The study found that active members of the Association contributed $12.5 billion to the U.S. tour operator industry in 2013, representing more than 7.6 million individual travelers. Even better, the membership projects a healthy increase in sales in 2014 of 8.7 percent to $13.5 billion, with a 4.7 percent increase in individual travelers to nearly 8 million.
“Each of these vital statistics show robust growth since 2011,” Colin McIlheney, global research director with PriceWaterhouseCoopers, said during the conference. “Many are at all-time highs since the work began.”
What Drives Multigen Travel
Preferred Hotel Group has released a new study aimed at identifying emerging trends in multigenerational travel.
"While the growth of multigenerational travel has been a buzz in the hospitality industry for several years, shifts in the economy, new technology, and even contemporary parenting have had a measurable impact on how multigenerational travel is packaged, planned, taken and paid for," said Lindsey Ueberroth, president and CEO of Preferred Hotel Group. "This is multigenerational travel '2.0.' And these days, children are calling the shots, grandparents are increasingly funding the cost of the trip, and an overwhelming percentage of Millennials – 91 percent of those surveyed – say a multigenerational trip is something they try to take every year."
Stat: New ARC and Expedia Study Expects Lower 2015 Air Prices
2015 could be a year of lower prices, premium value, and a different strategy regarding when to book according to a new study of air travel trends by Expedia, Inc. and the Airlines Reporting Corporation (ARC).
Stat: Europe and China Drive New Cruise Growth for 2015
While the Caribbean continues to lead – due, in part, to an ever-expanding selection of closer-to-home cruise ports that appeal to a wide range of travelers – demand for cruises in Europe and China, continues to grow demand for both for deep water and river cruising, says a recent Cruise Holidays Cruise Trends report.
The biggest gains among European river cruise destinations have been charted for Passau, Germany, and Lyon, France, while the top five list for river cruises outside of Europe includes destinations in China, Vietnam and Myanmar, the report says.
The report is an annual look at actual cruise bookings made for the year ahead by Cruise Holidays' 1,300 cruise-focused travel agents in the United States and Canada.
“What’s especially attractive to a growing number of travelers is how the cruise industry is adapting to their desires to visit Europe, be it coastal or inland. We see strong growth there both for deep water and river cruising. They have emerged as complementary – not competing – forces in travel,” said Kevin Weisner, senior vice president of sales for Vacation.com, of which Cruise Holidays is a part.
He notes some traditional open water cruise lines are packaging their itineraries with river cruise trips.
Top 10 Cruise Destinations for 2015
Stat: Pets Top Unique Requests for Travel Agents
American Express Global Business Travel (GBT) has released a new survey reporting some of the top trends in air, lodging and overall trip booking from their travel counselors.
Below is a summary of the survey (click each half to enlarge):
