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Tourism effects and trends (2) - Coggle Diagram

- - - - who is the Asian millennial travellers?
         Born between 1981 and 1995
         Approximately 60% of the world’s Millennials reside in Asia
         A third originate from either China or India
         Even before entering the prime of their earning power, Millennials already account for almost 35% of the $600 billion that Asians spends on international travel
         Driven by income growth, the Asian Millennials spend on international
        travel is expected to increase by 1.6X to $340 billion by 2020
      - who is the Asian Millennial travellers?
         Educated consumers
         Digital natives; first truly global generation to
        have been brought together by the internet
         Puts in time and has the “know-how” to conduct
        extensive research before making purchases
         Very big on individuality and self expression
         Seek out authentic, word-of-mouth information through these same channels, not just from family and friends,
        but also anonymous reviewers and bloggers
      - Asian Millennial Travellers (AMTs):
        1. differ by country
         Chinese - Largest spenders amongst the AMTs and
        have a clear preference for ‘big name' destinations
         Indians – 2nd in terms of spending per trip but will opt for
        cheaper accommodation, spending more on flights and food
         Indonesians – Opts for budget airlines and accommodation
        and will take impulse holidays if the right deal is offered
         Singaporeans – Seek out deals. Not because of budget constraints
        but it is the desire to get the most ‘bang for their buck’
        2. Desire flexible travel and value autonomy and control
         Want to be able to do what they wanted, when they wanted it
         Hates being forced into highly regimented, ‘military style’
        schedules that required early wake up calls
         Singapore travellers desire the most control; Indonesians the least
        3. Thrive on gathering as much information as possible
         Refer to online sources, travel reviews and social networking sites
         Also rely heavily on traditional sources such as magazines, newspapers and travel agents
        4. Exhibit a distinct lack of brand loyalty
         Brand awareness is high; brand loyalty is low
         Price, convenience and other such considerations play
        a far more important role in determining their choices
      - Mature travellers:
         Use of computers as a source of travel information and transactions
         Vacations that include healthy food, exercise,
        intellectual stimulation, and the great outsiders
         “Doing” rather than just “seeing”
         New destinations that offer different things to experience and learn
         Travels with their children and grandchildren
        -extended family getaways & VFR
        what are the implications?
        exp:
        -slower-paced tours
        -include appropriate meals such as less oil, salt and sugar
        -accommodation that caters to families (facilities)
    - - the internet as a travel tool:
         The Internet exploded onto the scene in the last years of the
        20th century and has become the “travel tool” of the 21st century
         88% of travellers gained online access while abroad
         The increasing use of e-commerce has opened
        up more distribution channels for tourism products
         Social media is also increasingly used
        extensively as a marketing and sales tool
        technology vs the human touch
         Tourism businesses are adopting technology at a
        faster rate and travellers are embracing the movement
         Although this step de-personalises service, a growing number of travellers prefer speed and efficiency to the more personal interaction with hospitality service employees
        E.g. Would you prefer to make your travel bookings
        online or speak to a travel agent?
      - future changes in air travel:
         Larger aircrafts with longer range
         Shorter flying time
         More space and better comfort for
        passengers as well as cabin crew
         Air travel becomes “greener”
         Lower break even point for profitable operation
         Lower operating costs
         Flexibility on the configuration of seats/on-board facilities
        implications:
        -lower airfares
        -increased frequency of flights
        -reduce environmental damage
        -increased capacity per flight
      - 11 key technology trends emerging
        in the travel & tourism industry:
        
        voice search & voice control
        
        robots
        
        contactless payments
        
        virtual reality (VR)
        
        AI Chatbots
        
        cybersecurity measures
        
        internet of things (loT)
        
        Recognition technology
        
        augmented reality (AR)
        
        artificial intelligence (AI)
        
        Big data