The use of social media and a resurgence in luxury travel are two tourism trends that medical tourism must take note of.
Euromonitor has released a new free white paper by Caroline Bremner, Head of Travel and Tourism.
One of the most notable trends amongst 21st century travellers is an increase in online bookings. The US and Western Europe remained the largest online travel markets in 2012, with online travel sales reaching US$185 billion and US $170 billion, respectively. These same markets will grow at least until 2017. BRIC markets (Brazil, Russia, India and China) are each expected to grow between 10 and 20% until 2017.
Mobile technology has greatly affected travel bookings and will continue to grow, driving the increasingly important real-time social conversation between the newest travelling consumer, the millennial, and consumers and travel brands. Millennials are those born from the early 1980s to the early 2000s- ages from 18 to 35.
Because few are married, own a home or even own a car-they spend their money on other things, of which travel is important.
According to Pew Research Center, 81% of US consumers between the ages of 25 and 35 have smart phones and 37% own a tablet. Marketing strategies must adapt to incorporate gaming, apps and user-generated content to reach this generation, since they are sceptical of traditional marketing.
Collaborative consumption, or the act of consumers and producers coming together through activities like lending, exchange and bartering, is becoming increasingly popular. Tourists are keen to rent less expensive lodging options and homeowners struggling to pay mortgages are more willing to rent their spaces.
Luxury travel has made a comeback. Despite its decline in 2009, luxury hotels and premium air travel grew between 5-10% per year over 2010-2012. With ever-rising annual disposable incomes, middle class consumers are becoming more sophisticated, boosting demand for luxury hotels worldwide. Luxury guests have also embraced technology, with social media playing an important role for brands.
Caroline Bremner comments, “These trends need to be addressed by travel companies to maintain or increase their share in the marketplace. Technology is changing the direction of travel and tourism and it is imperative to capitalise on social media to reinforce a positive brand image, reach key demographic segments and create a conversation with prospective tourists.”
Other research companies have been looking at millenials and some interesting conclusions include-
- 40% have no landline phone.
- 80% sleep next to their mobile.
- Most will give you personal information-in return for a discount.
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