An overview of the megatrends of the travel and tourism industry in 2020

first_imgSkift’s analysis of the name “Skift Megatrends 2020” is a set of forecasts for the fastest growing travel trends in 2020. In this article, we will briefly go through all the most important trends covered in the above analysis. A new approach to conferences and events in 2020. You can download the complete survey HERE. Consumer brands that recognize the passion of travelers are jumping into the industry. They become hotel owners to attract the attention of millennials, and experience travel as a way of life. More and more retailers are expected to enter the catering space. Wellness trips are no longer just for young people. Companies consider aging a great opportunity, relying on transformational journeys with a focus on mind and spirit. More and more people in their old age have a desire to work on it, and they see this opportunity in such travels. A new competitive advantage of tourism – preservation, not just promotion of destinations The future of hotel loyalty: more than just staying The rise of ultra long flights is changing the way we travel New startups are putting pressure on corporate travel. This heralds a bright future for the average business traveler and investor in travel technology. Global payment technology is changing rapidly, driven by cutting-edge Asian innovations that make life easier for consumers. Travel companies are finally taking action to stay competitive. Responding to the burden that tourism brings requires more than implementing the ideas of managing the management of tourist boards; it requires a paradigm shift in destination modes. Generation Z is proving to be the next big opportunity for the travel industry Private renters in the lead Source / photo: Skift Overpayments on travel are new frontiers of loyalty Google offers innovative products that enable companies to collect unimaginable amounts of personal information. This makes it much easier for them to prosper above other competitors in the travel sector. Expanded hospitality is changing the way we experience cities The data drives the future of travel advertising Consumer brands are jumping into the travel industry with a combination of catering services As new concepts of urban living evolve, and cities become even more attractive destinations for both business and private travel, hospitality brands will need to rethink their role, both for visitors and residents. The short-term rental ecosystem is getting bigger, which means many private individuals will come out as winners. Further professionalization of brands, more external investments and consolidation of suppliers are expected. Millennials have been at the forefront of the collective mind of the tourism industry for years. But with the start of 2020, Generation Z is coming of age. The travel industry should adapt to this group so that it can be one step ahead. Comprehensive software not only simplifies the event planning process. It transforms the way planners track and learn from events. The development of these comprehensive tools is beginning to shape the future of the conferencing industry. The world is overwhelmed with data, but as consumer skepticism toward the world’s leading technology companies grows, tourism brands need to rethink the way they use information to create hyper-relevant offerings. Guessing the right combination of usefulness and importance, which develops beyond personalization itself, will create even deeper and more meaningful relationships with consumers. There is no return in the transformation of low-budget hotels from the “uncategorized” class into a legitimate segment of the global hotel industry. The future technology and growth of Generation Z passengers will further stimulate innovation in the design of cost-effective accommodation, especially in Asia. The innovations of urban living will drive the future of travel As event planners transform into experience designers, destination selection will be an advantage in providing better conferences and events in 2020. Innovation, collaboration and sustainability are key trends; a forward-thinking destination will be an important partner to meet the growing expectations of participants. Cities have always been incubators of innovation, but with two-thirds of the world’s population expected to live in urban areas by 2050, new upgrades, implemented daily, will ensure that such population density serves the travel industry in a positive way. Importance of data for events Smart design is no longer limited to luxury travel Connecting all over the world with non-stop flights is becoming more and more attractive to passengers. But the growing popularity of one-day flights is disrupting airline economies. Adjustment will be crucial as demand from the travel industry grows. Fighting for corporate travel Payments when traveling become completely painless Google takes the lead Wellness travel makes aging aspirational Hotel loyalty is no longer just earning points for staying in hotels. Today, advanced brands like Hyatt are expanding loyalty beyond the stay itself through a clever mix of strategic alliances, unique experiences and new earning opportunities from everyday consumption. Attracting consumer loyalty means more than just the rewards themselves. Subscriptions and memberships are an attractive way for travel companies to build lasting relationships with consumers.last_img