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MarketHub plots where travel is heading

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SINGAPORE, 28 November 2023: MarketHub Asia by Hotelbeds 2023 hosted in Bangkok sparked in-depth discussions among industry leaders on the future trajectory of the tourism sector under the theme “Where Next?”.

Amidst substantial disruptions in the tourism sector, Hotelbeds reveals the following essential insights from its MarketHub Asia event.

Projected Workforce Expansion

The global tourism sector is projected to generate a staggering 110 million new jobs in the coming decade, according to the World Travel & Tourism Council, with the Asia-Pacific region poised to contribute nearly 70% of these opportunities due to an expanding job market.

The Traveller of Tomorrow

Travel agencies reveal that up to 90% of consumers seek personalised solutions, catering to a rising demand for individualised and seamlessly tailored experiences. Hotelbeds reports that these end customers are not just after essential services such as insurance and financial provisions; they seek comprehensive travel packages that offer 24/7 customer support.

Addressing environmental impact becomes a primary focus in the tourism sector, driving the prominence of sustainable travel practices. With 70% of travellers anticipating more eco-conscious offerings, the momentum for environmentally-friendly travel intensifies.

Emotion is the New Brand Standard

A significant shift in young consumers’ preferences is evident, with approximately 60% of Millennials and Gen Zs prioritising superior services over price, seeking experiences that create lasting memories during their trips. This changing sentiment and the accompanying high expectations are driving the need for innovative business models. 

Asia is a tech leader

Asia is 10 years ahead in technology, and consumers demand new travel products, including those in Fintech. The audience also heard that embracing technology, including artificial intelligence and augmented reality, is essential to ensure data quality.

“MarketHub Asia assembled trailblazers from the Asia-Pacific region and beyond to explore the future of travel,” said HBX Group chief commercial officer Carlos Munoz. “Under the theme ‘Where Next?’, we delved into the future of tourism amidst significant disruptions, unearthing pivotal insights that will chart the industry’s trajectory for years to come.”

(Source: Markethub Asia – HBX Group).

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