Evolution of low costs in the travel and tourism sector driven by the growth of Internet users and online travel – GlobalData Plc

LONDON, UK, November 1, 2022 /EINPresswire.com/ — The latest market publication, Low Cost Evolution in Travel and Tourism – Thematic Research examines several upcoming trends that may drive low cost evolution in the travel and tourism industry. Low-cost options will continue to be in high demand as price sensitivity increases due to a range of technological, macroeconomic, regulatory and industry trends outlined in this report.

View Outlook report on: https://www.globaldata.com/store/report/low-cost-evolution-in-travel-and-tourism-theme-analysis/

Trends in low prices in the travel and tourism sector

The major trends that will shape the theme of the evolution of low-cost over the next 12-24 months can be divided into four categories covered in this report:

Technology Trends
• Constant growth in the number of Internet users
• AI in online travel
• Big data and dynamic pricing

Macroeconomic trends
• COVID-19[FEMALE[FEMININE
• Mergers and Acquisitions
• ESG – Environment
• ESG-Social
• Generation Y and Generation Z

Regulatory trends
• Liberalization of specific LCC markets
• Tourist taxes

Industry trends
• Psychocentric tourists
• VFR and domestic
• Low-cost long-haul
• Travel apps
• Off-peak travel

Download sample PDF report for additional information on key trends

Overview of the low-cost evolution value chain

The value chain of the low cost evolution consists of three main segments, accommodation, transport and intermediaries:

Accommodation
• Hotel
• Motel
• Cruise

Transportation
• Airline company
• Road
• Rail
• Lease

Intermediaries
• Online booking
• Tour operator
• Price comparison

Take your sample copy for detailed information on the components of the value chain

Evolution of low prices in travel and tourism companies

• Accor: Accor manages and franchises luxury, upscale, midscale and economy hotels. It operates its establishments under various economy sector brands, including ibis, ibis Styles, ibis Budget and Jo&Joe. The company continues to expand its Jo&Joe brand, with openings announced in London and Dubai.

• Airbnb: Airbnb has become a leader in the accommodation and online booking sectors, although low-cost accommodation alternatives remain at the heart of its offer. Long stays in private rentals with Airbnb are often cheaper than long stays with many other accommodation providers. Following the changes in demand caused by the pandemic, Airbnb has released a new search function where travelers can search for a monthly stay.

• Booking Holdings: Booking Holdings is recognized as one of the largest operational OTAs in the world, providing services to customers and partners in more than 220 countries and territories through its six leading consumer brands, Booking.com, Kayak, Priceline, Agoda, RentalCars, and OpenTable.

• Carnival Corporation: Carnival is a leading provider of all-inclusive cruise experiences. Many of its ships offer activities, entertainment, food, drink, lounge access and amenities for the price of a ticket. Carnival’s latest deals include cheap last-minute deals on its website. The company has also created innovative strategies to attract additional budget travelers. Special sale cabins, called guaranteed cabins, are priced below the regular cruise fare.

• easyJet: easyJet is an LCC operating 1,100 routes across more than 35 countries. The company sells its flights through its own website and app, as well as through third-party agents. To further cater to budget-conscious travellers, the company launched its easyJet Holidays brand in November 2019. Announced in February 2021, easyJet Holidays for summer 2022 were available from just GBP 249 ($327.50) per nobody.

• Expedia Group: Expedia is one of the largest online travel platforms in the world. Through its large number of brands, it offers travelers a range of services that allow customers to book or search for vacation packages, flights, hotels, rental cars, trains, cruises, activities and attractions. CheapTickets is an online travel services company focused on the leisure market. It offers cheap airfare, cheap hotels and vacation rentals, and other elements of a trip that can be afforded at low prices.

• IHG Hotels & Resorts: IHG has a strong presence in the budget hotel subsector. Its Holiday Inn and Holiday Inn Express brands are present worldwide and are favorites of many travelers looking for budget accommodation. The brand continues to attract hotel owners as it expands into new markets, including its first signing in Japan.
• Lyft
• Ryanair
• Trip.com Group
• TUI Group
• Uber
• Wizz Air
• Wyndham Hotels and Resorts
• South West Airlines

Get a sample PDF for supplier-specific offers

About Global Data
GlobalData is a leading provider of data, analytics and insights into the world’s biggest industries. As a leading information services company, thousands of customers rely on GlobalData for reliable, timely and actionable information. Our mission is to help our clientele made up of professionals within companies, financial institutions, professional services and government agencies to decode the future and benefit from faster and more informed decisions. Continuously enriching over 50 terabytes of unique data and leveraging the collective expertise of over 2,000 in-house industry analysts, data scientists, journalists and a global community of industry professionals, we aim to provide decision makers with timely and actionable information.

Marc Jephcott
GlobalData Plc
+44 20 7936 6400
[email protected]
Visit us on social media:
Twitter
LinkedIn