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“Trends and Opportunities”
4th Annual Statia Sustainable Conference
September 24th,2015
Question
• What do these trends mean to us and how can we take advantage of them to build a more competitive, relevant and innovative industry?
Imperative: Strategic planning ,close scrutiny and
adapting of relevant and emerging trends!
Agenda
• Global Perspective on Tourism • List of Key Trends • Assessment of each Trend and how we can convert to
Opportunities
Global Perspective on Tourism
• Ever-increasing number of destinations
• Experienced continued expansion and diversification to become one of the fastest growing economic sectors.
• Shown virtuallyuninterrupted growth
Tourism in the World: Key Figures
9% of GDP
1 in 11 Job
US$
1.4 Trillion in Exports 6 %
Of worlds Exports
From25 MILLION
INTERNATIONAL TOURISTS
1950
To 1087 MILLION
INTERNATIONAL TOURISTS
2013
1.8 Billion
International Tourists
Forcast for 2030
5-6 Billion
Domestic tourists
Caribbean Tourism
• Most tourism dependent economy • Majority of tourism arrivals were concentrated in the following 7
markets: DR, Puerto Rico, Cuba, Bahamas, Aruba, Jamaica and Barbados
• Performance has declined since the mid 1990’s due to increased competition from new markets and underinvestment.
7 Key Trends in T & T put your great subtitle here
01 02 03 04 05 06
Increased Competition
The New ‘Traveller’
Emerging Economies
Demographic Shifts
Technology Continued Growth in
Responsible Tourism
07
Safety & Security Concerns
Other Industry Changes
ᾫ
0078
Increased Competition
• International arrivals have risen from 25 million in 1950 to 1.1 billion in 2014 and expected to grow to 1.8 billion in 2030.
• Over 180 tourism destinations around the globe. • Over a 100 is receiving over a million arrivals • 6 of these are Caribbean islands ( Aruba, DR, Jamaica, Cuba, The
Bahamas, PR)
Increased Competition: What can we do?
• Diversification of its main source markets whilst being more strategic in traditional markets
• Local initiatives and entrepreneurship • Increasing intra-regional travel • Identifying your USP and celebrating your authenticity
Emerging Economies: What can we do?
• Opportunities for islands to penetrate new consumers • Revitalize our diverse characteristics , proximity to Latin and Central
America markets, diversity of its product to provide travel inspiration to attract new consumers from emerging and advanced markets
• Growth of EEs will create opportunities to attract new visitors to region
Growing Middle Class: What can we do?
• Understand changing demographics and non traditional markets’ consumer behavior to develop a clear USP.
• Participate in US multi-destination itineraries targeting Brazilians, Asians etc. to raise awareness.
The “New Traveler”
• Driven by scientific, social, emotional and spiritual influences • Knowledgeable, experienced, technologically savvy, harder to please,
socially conscious, participators not spectators and looking for experiences.
• Focus on service excellence, personalized, experience, good value for money
• Unique and memorable experiences which offer experiential, cultural and educational themes.
The “New Traveler” : What can we do?
• Product Differentiation and Personalization • New Technologies, innovative marketing programs, empowerment of
staff • Quality Improvement, service excellence across all categories • Broaden base of product offerings • Effective use of data
Global demographic Shifts (GDS)
• Shapes the age, origin and behavior of tomorrow’s tourists • Aging populations, living longer with higher disposable income • Multiple trips due to work pressure • Change to family structures • Power of the Millennial (1977-2000)
GDS: What can we do?
• Ensure right product mix is available and effectively marketed based on research
• Develop varied attractions and activities that cater to diverse age groups
• Focus on having diverse culinary, health and wellness, adventure offerings
Sustainable and Responsible Tourism
• Sustainability as a priority area • Green Travel is a new normal • Consumer Education and Awareness • Energy Efficient Practices, Use of environmentally friendly materials
and technology
Sustainable Tourism: What can we do?
• Establish sustainable niche products like community tourism, cultural heritage tourism, agro-tourism that will involve local communities to provide memorable experiences.
• Promotion of cultural industries : our food, music, art, heritage etc. • Utilize storytelling as a driver of powerful change: Powerful stories of
history, culture, values, beliefs etc.
Terrorism, Safety and Health
• Industry has become highly susceptible to natural, man-made and health crises
• Culture of Fear exists • High Quality healthcare systems have become a crucial determinant
in destination choice
Terrorism, Safety and Health: What can we do?
Safety and Security for Visitors and Locals Promote Sexual Awareness Health Controls at Ports Benchmark best practices for gun and drug trafficking
Technology
• Prominence of the internet, online travel, mobile technology and social media influence travel decisions
• Tech innovation in aviation, immigration and travel purchase has transformed the tourism sector
• More reliant on technology across phases of the travel cycle (from search to post trip)
Technology: What can we do?
• A multi-channel strategy to capture demand especially from consumers in emerging markets
• Ensure that online customer experience is seamless and personable • Keep abreast of trends : global online booking , OTA’s, Mobile Web,
Online rental (Airbnb),
Other Changes within the Industry • Sharing and Renting • Mergers and Acquisitions • The Millennial War
Highlights
• Global Tourism is growing • Competition is Fierce • Pay attention to trends and relevant data • Customer experience is the future • Anticipate consumer needs • Take into account your unique and diverse characteristics to attract
new consumers and entice repeat visitors
Highlights cont’d
• Create distinctive experiences with clear USP • Deliver using mechanisms to make experience personal for target
audience • Education and training: Attract the brightest, industry certification
&training , public education • Strategic Partnerships : That’s Key!
THE CORE
• THE CUSTOMER EXPERIENCE in order to WIN THE BATTLE for LOYALTY
• It decides IFsomeone RETURNS as they GROW more aware, become more TECHNOLOGICALLY SAVY, become more CHOICE-CONSCIOUS.
• Suppliers and Intermediaries MUST OWN the CUSTOMER RELATIONSHIP, CREATE DISTINCTIVE EXPERIENCES tailored to each target audience.