Original article was published on January 16th, 2018 and can be found here: https://medium.com/@sandy_87987/travel-tourism-stats-that-might-help-to-plan-your-next-vacation-d171e34b04d4 – Travel & Tourism Stats That Might Help To Plan Your Next Vacation.
The latest statistics related to the travel & tourism industry show that people are spending more time in choosing the right accommodation, with an increased attention in avoiding expensive hotels. People are relying more and more to online ratings and reviews in order to make their booking decisions, and they book their stay at least 2 to 3 months before.
According to The Vir Group, an online platform that provides turnkey service for homeowners, January as been the month with the highest number of bookings through the year. Indeed, the Vir Group Annual Occupancy Figures for 2017 are:
January — 97%;
February — 98%;
March — 99%;
April — 83%;
May — 61%;
June — 51%;
July — 63%;
August — 62%;
September — 54%;
October — 86%;
November — 80%;
December — 73%
Travelers are money poor, but time rich:
- Millennials will represent the #1 consumer segment in the U.S. hotel industry by 2018, if not 2017 (Frederic Gonzalo, 2016)
- Travellers ages 15 to 29 accounted for an estimated 23% of international travellers in 2015 (WYSE, 2016)
- Young people are often money poor but time rich, which means that they can spend longer in a destination than a typical tourist. As a result, however, they end up spending up to two thirds more on average (WYSE, 2016)
- 78% of millennials would rather spend money on a desirable experience or event than buying something desirable (Harris/Eventbrite, 2014)
- Young travellers are relatively intrepid and unlikely to be phased by economic problems, political unrest or epidemics. If there are fewer job openings, it can even encourage young people to travel or gain work experience abroad during a gap year (WYSE, 2016).
- 6 out of 10 millennials would rather spend their money on experiences than material things (MMGY Global)
People enjoy their trip in the best possible way. They make some great memories and take amazing photos to show their friends and family members. Also, it emerges like they are willing to spend more money for the fun, rather than the flights, thus actively looking for discounted flights. They look for credit card special discounts and look for all the offers available. They tend to purchase the ticket that is available at the lowest rate, so that they don’t have to worry about their budget.
Uber services or public transportation are preferred compare to taxis. Of course, that is because those are more economical as compared to all private taxi, but also because it gives them a new experience.
- 69% of global travellers — of all age groups — are planning to try something new in 2016 (TripBarometer, 2015)
- 17% will try solo travel for the first time in 2016, and 15% will try adventure travel for the first time (TripBarometer, 2015)
- Tourists in 2016 are looking for opportunities to explore lesser-known destinations, especially those that are untouched or unique (Virtuoso, 2016)
- 1 in 5 global travellers have visited a destination because they saw it on a TV show (TripBarometer, 2015)
- Just 31% of travellers book a trip based on their own past experiences (Skift Megatrends Defining Travel in 2016)