Key Themes in Travel and Tourism for 2023 - Thematic Intelligence - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Key Themes in Travel and Tourism for 2023 - Thematic Intelligence" report has been added to ResearchAndMarkets.com's offering.

This report covers the key technology, macroeconomic, and industry themes that will have a significant impact on travel and tourism in 2023. Whether you are looking to invest, gain competitive intelligence, or just become more familiar with one of these themes, this report provides comprehensive analysis on each one, while also outlining how these themes interlink, making this report highly unique.

This multi-theme thematic report covers the leading companies and organizations within the key themes in the travel and tourism industry, giving readers a strong sense of how different elements within the industry fit together and how conflicting themes might interact with one another.

This report pinpoints the themes that are most likely to impact a company's financial performance and position in the market. Written by an experienced travel and tourism analyst, each theme covered in this report is given: an in-depth description, an explanation as to why it is important in travel and tourism, data-led analysis, and case studies on how it is being used in different tourism sectors.

The travel and tourism industry will be very different in 2023 to what it was in 2019. Prolonged movement restrictions imposed by COVID-19 pandemic brought about shifts in business operations and goals as well as traveler behavior and preferences.

COVID-19 has undoubtedly brought challenges for the sector, but also opportunities to encourage innovation, drive new business models, explore new niches and markets, open up new destinations, and move to more sustainable and resilient tourism development models.

Nevertheless, even as global tourism continues along its recovery phase, the unprecedented shock to the tourism economy caused by COVID-19 has been compounded by the evolving geopolitical situation in Ukraine. This is having very tangible economic and social consequences for many people, places and businesses, and the wider economy.

There are also major uncertainties regarding the outlook of China, which was once the world's largest and one of the most valuable outbound source markets.

In these uncertain times, a strong online presence is vital for travel and tourism companies, and this needs to be bolstered by innovative apps and personalized offerings. Digital adoption has accelerated during COVID-19 which has prompted the adoption of more advanced technologies by leaders in the travel and tourism industry. Better understanding and utilization of artificial intelligence, cloud computing and cybersecurity are now key to staying ahead.

Key Highlights

• The prolonged war in Ukraine and additional travel restrictions for Russian tourists across Europe will impact key markets and slow tourism recovery. Russia and Ukraine account for a relatively large share of outbound tourism trips and expenditure. The absence of both of these markets, amid COVID-19 recovery could be detrimental for some countries, especially as the loss of these source markets is likely to be protracted. Greater challenges are apparent as a by-product of the conflict. The outlook for global growth continues to deteriorate as inflation continues to creep upwards, despite some easing in commodity and oil prices in recent months. Against this backdrop, consumers are exhibiting significant apprehension about their personal finances and specific concerns about rising levels of inflation, all of which will impact shopping habits and spending confidence.
• Travel and tourism are intrinsically linked to the environment, biodiversity and nature. It is important to accept that ESG (environmental, social, governance) is here to stay. Key players in the global tourism sector have already embarked on the journey to adjust strategy, business and operating models accordingly. Indicative of this, ESG was the most mentioned theme in travel and tourism company filings in 2021, with 101,062 mentions, following a 29% YoY growth in ESG mentions from 78,293 in 2020. Of the ESG pillars, environmental was the most mentioned pillar in 2021, having overtaken governance with 40,461 environmental mentions, according to the publisher's Company Filing Analytics. Further, growing consumer awareness on the impact of travel on nature and communities will increasingly influence travelers' decision making when deciding how, where and when to travel. According to a publisher Consumer Survey, xx% of global respondents consider 'sustainable/environmentally friendly features' as essential or nice to have when making a purchase. Therefore, businesses and governments in tourism need to be aware of the chances and opportunities ESG policies offer to eventually cater to shifting consumer demands and help ensure long term success.

Companies Mentioned

• Marriott International
• Trip.com
• Accor
• Melia Hotels
• Intrepid Travel
• G Adventures
• Cathay Pacific
• Booking Holdings
• Hyatt
• Fraport Airport
• British Airways
• Walt Disney
• Choice Hotels
• Finnair
• Princess Cruises
• Airbnb
• Kerala Tourism
• Royal Caribbean International
• Air China
• China Eastern Airlines
• China Southern Airlines
• Carnival Corporation
• American Airlines
• Hilton Hotels

For more information about this report visit https://www.researchandmarkets.com/r/b9e9ry

Source: GlobalData

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