Here are the bird’s eye facts you need to know about Planet Travel if you are an independent operator – whether of hotels, tours and activities/experiences, retail – or any kind of business that needs to reach travellers in 2020, to grow revenues and profitability.
- Travel is big and it’s growing: In 2019, total travel bookings is expected to grow by 7.3% to reach US$1.4 trillion.
- Asia Pacific is now the world’s largest regional travel market
*(Source: Phocuswright Global Online Travel Overview 2019)
- Online travel bookings are growing twice as fast as the overall market.
- The tours and activities market is projected to reach $183b in 2020 and one third of that is in Asia Pacific.
- Independent hotels dominate the hospitality market. Of the approximate 60,000 hotels in South-east Asia, about 93% are independent hotels. (ZUZU Hospitality Solutions) This explains the emergence of new brands like OYO and RedDoorz.
In its fourth edition, WiT Indie will continue its focus on how independents in travel can grow their share of the pie by getting smarter and savvier about distribution, marketing and technology, as well as address new opportunities like the big world of food and the necessary world of sustainability, two big themes that will change the face of travel 2020 and beyond.