What a start to the year. A global viral outbreak that’s brought travel to its knees everywhere. We were the first to be hit in Asia, from China to Singapore, and then beyond. We reeled from fear, and shock, as cancellations poured in.
But because we are first in, we can be first out. We can lead the way to recovery by sharing lessons and experiences, ideas and insights.
Because the fundamentals haven’t changed. From a bird’s eye view, here are the facts:
- 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
- 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.
This third edition of WiT Indie will focus on recovery ideas and spark new thinking on how to keep flying high after this blip. Because it too shall pass.