Low Cost Evolution in Travel and Tourism Sector Driven by Growth in Internet users and Online Travel – GlobalData Plc
LONDON, UK, November 1, 2022 /EINPresswire.com/ — The latest market publication titled Low Cost Evolution in Travel and Tourism – Thematic Research examines several upcoming trends likely to drive the low cost evolution in the travel and tourism sector. Low-cost options will continue to be in high demand as price sensitivity grows due to a range of technology, macroeconomic, regulatory, and industry trends that are outlined in this report.
View Report Outlook at: https://www.globaldata.com/store/report/low-cost-evolution-in-travel-and-tourism-theme-analysis/
Low Cost Evolution Trends in the Travel and Tourism Sector
The key trends that will shape the low-cost evolution theme over the next 12 to 24 months can be divided into four categories covered in this report are:
Technology trends
• Constant growth in internet users
• AI in online travel
• Big data and dynamic pricing
Macroeconomic trends
• COVID-19
• M&A
• ESG – Environment
• ESG – Social
• Millennials & Gen 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 a PDF Sample report for additional insights on the key trends
Low Cost Evolution Value Chain Insights
The low cost evolution value chain has three main segments, lodging, transportation, and intermediaries:
Lodging
• Hotel
• Motel
• Cruise
Transportation
• Airline
• Road
• Rail
• Rental
Intermediaries
• Online Booking
• Tour operator
• Price comparison
Grab your Sample Copy for detailed value chain component insights
Low cost Evolution in Travel and Tourism Companies
• Accor: Accor manages and franchises luxury, upscale, midscale, and economy hotels. It operates its establishments under various brand names in the economy sector 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 lodging and online booking sectors, though low-cost accommodation alternatives remain at the core of its offering. Long stays in private rentals with Airbnb are often cheaper than long stays with many other accommodation providers. As a result of changes in demand caused by the pandemic, Airbnb released a new search function where travelers can look for a monthly stay.
• Booking Holdings: Booking Holdings is recognized as one of the largest operating OTAs worldwide, providing services to customers and partners in over 220 countries and territories through its six primary consumer-facing 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 provide activities, entertainment, food, drinks, lounge access, and amenities within the price of a ticket. Carnival’s latest deals include cheap last-minute offers on its website. The company has also created innovative strategies to attract additional budget travelers. Cabins on special sale, called guarantee cabins, are priced below the regular cruise rate.
• easyJet: easyJet is an LCC that operates 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 travelers, the firm launched its easyJet Holidays brand in November 2019. Announced in February 2021, easyJet holidays for summer 2022 were available from just GBP249 ($327.50) per person.
• Expedia Group: Expedia is one of the world’s largest online travel platforms. Through its vast number of brands, it offers travelers an array of services that enable customers to book or search for holiday packages, flights, hotels, rental cars, rail, cruises, activities, and attractions. CheapTickets is an online travel services company that focuses on the leisure market. It offers cheap airline tickets, bargain hotel and vacation rentals, and other elements of a trip that can be offered at a low price.
• IHG Hotels & Resorts: IHG boasts a strong presence in the budget hotel sub-sector. Its Holiday Inn and Holiday Inn Express brands can be found across the globe and are a firm favorite for many travelers seeking low-cost accommodation. The brand continues to attract hotel owners as it expands to new markets, including its first signing in Japan.
• Lyft
• Ryanair
• Trip.com Group
• TUI Group
• Uber
• Wizz Air
• Wyndham Hotels & Resorts
• Southwest Airlines
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