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, any businesses that need 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.
APAC is now the world’s largest regional travel market
Online travel bookings are growing twice as fast as the overall market.
(Source: Phocuswright Global Online Travel Overview 2019)
The tours and activities market is projected to reach $183b by 2020 and a third of that is in Asia Pacific.
Independent hotels dominate the hospitality market.
Of the approximate 60,000 hotels in South-east Asia, about 93pc are independent hotels. (ZUZU Hospitality Solutions) This explains the emergence of new brands like OYO and RedDoorz.