Asian travel leadership takes centre stage as top Indian travel leaders gather at India Travel Forum to share valuable insights on online trends and issues key to the travel and tourism industry in Mumbai, August 27, 2013
The fourth edition of TravelRave, Asia’s most influential travel and tourism festival, returns from 21 to 25 October 2013 in Singapore, with eight quality events across related sectors from hospitality and tourism investment, to technology and aviation. The latest addition to the TravelRave calendar includes the inaugural Union of International Associations (UIA) Associations Round Table Asia which will showcase a curated programme for an international audience with a focus on the Asian associations’ perspective.
For the travel and tourism industry, the focus is on Asia as a rapidly growing region that is progressively reshaping the global tourism landscape. According to the Organisation for Economic Co-operation and Development (OECD), the combined GDP of China and India is projected to exceed that of the G7 countries by 2025 while two out of every five travellers are expected to be Asian and will account for nearly half of global tourism expenditure by 2020. According to the World Tourism Organisation (UNWTO), international visitor arrivals to the Asia Pacific region registered the strongest growth worldwide – a year-on-year increase of six per cent over the first four months of 2013.
Few pointers to the insights on travel industry provided by panellists:
1. Asia Pacific Region to grow phenomenally
2. According to STB – In 2012 every 2 travellers out of 5 was from Asia
3. Half of the travel is by Asians
4. Significant rise of middle-class/ affluent customers
5. In 2012 India welcomed 7 million tourists
6. 90% growth recorded in domestic travel
7. India is tenth largest country business generating market of the world
8. Indian Consumer looks for value, shopping and cleanliness
9. Indian consumers are undertaking more and more Online search
10. Large percentage still believes brick & mortar is still better
11. First time traveller needs lot of hand holding
12. Youngsters do lot of Online search and want to explore more
13. 22% domestic aviation industry going Online
14. Consumers are exploring multiple media
15. Need to build on experience on transaction delivery
16. New destinations like Laddakh & Spain are being looked at
17. Growth coming not only from Metros but also from tier II & III cities
18. Increase in individual travel and decrease in group travel
19. One-third of Asia’s growth coming from India
20. Customers using functionality and looking for price to value proposition
21. 30% search happening on Apps
22. India offers inherent potential for leisure travel.
With a strong line-up of events featuring relevant Asia-focused content taking place throughout the week, TravelRave serves as an integrated platform that provides attendees access to valuable insights and best practices in the region. By gathering industry professionals and business leaders from the entire spectrum of the Asian travel and tourism industry, TravelRave generates strategic networking and business opportunities while setting the stage for potential collaboration on important areas of growth.
“Since the launch of TravelRave in 2010, we have witnessed thought-provoking discussions among Asia’s travel leaders from diverse backgrounds on the future of the travel and tourism industry,” comments Ms Neeta Lachmandas, Assistant Chief Executive of the Singapore Tourism Board (STB). “Such platforms add to the breadth and depth of accessible content, while providing channels of active dialogue among the industry. This enables the cross-pollination of new and innovative ideas which has resulted in collaboration to look into issues such as talent and leadership development in Asia. We are happy to stage the India Travel Forum ahead of TravelRave, gathering thought leaders in the industry to share valuable business and consumer insights on the Indian market.”