Industry experts were bullish about the coming year at the annual Prospects meeting held by The Tourism Society. A regular feature in the tourism calendar, the meeting was…
Industry experts were bullish about the coming year at the annual Prospects meeting held by The Tourism Society. A regular feature in the tourism calendar, the meeting was chaired by Ian Reynolds, joined by Vanessa Cotton (Excel), Mike Dean (Cendant), David Edwards (VisitBritain) and Frances Tuke (ABTA).
The panel agreed the number of tourism trips will grow, but at a faster rate than the value. Key to this trend in the UK is the marked growth in the VFR (visiting friends and relatives) market, characterised by lower spend, and shorter trips. Emerging markets will include China and India as well as Eastern Europe, whilst the USA and Western European markets may weaken through economic stagnation.
The industry will be challenged by a market which is increasingly driving the booking process, and understanding and responding to emerging tastes and trends will be key to the continued buoyancy of the visitor industry.
The impact of the Olympics is already being felt, and there was a view that while this global event will increasingly dominate the debate it is vital not to take the eye off the ball and allow 2012 to sideline the mainstream industry.
Summing up, Ian Reynolds said: We can be positive about 2006, but to make the most of the opportunities we need to keep one step ahead of an increasingly sophisticated market looking for new experiences and new ways of organising their travel.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
