VIEWPOINT Targeting Millennials
Backed by the current growth impetus, travel, hospitality, luxury and leisure companies saw strong benefits in 2015. However, it’s becoming imperative to leverage technology to effectively respond to competition and a globe-trotting online customer, the Millennial.
The Millennial group is expected to represent up to three quarters of the global workforce within 10 years. To be successful with this group, any consumer business must understand their needs and desires. The good news is that Millennials love to travel. They want a customised experience. Their experience begins already with the online search and then evolves to the doorstep of the travel company or hotel. The industry needs to find the right amalgamation of information and technology to win loyalty of the Millennial customer.
In 2016 total global passengers are expected to rise to 3.8 billion travelling over some 54,000 routes, making it an exciting time for the tourism industry.
A combination of some of the factors that should add to the success of the industry are: • Lower oil prices
• Strong demand for travel
• Stronger economies - India’s growing middle class and faster recovery of the eurozone (which should outweigh the slower growth in China)
• Airlines increasing capacity and high load factors - Passenger capacity growth is expected to accelerate from 6.0% in 2015 to 8.4% in 2016 as new aircraft are delivered to accommodate this growth (especially in major emerging markets like India).
• e-Tourist Visas being offered by India and other countries to promote tourism globally Even though everything seems to be spiraling upwards, steps need to be taken very quickly to ensure tourism is not hampered due to lack of security and safety.
To motivate the industry and celebrate their success, India Travel Awards felicitated the achievers at four separate regional events in 2015, awarding them with the Maya, and indulging them with elaborate black-tie ceremonies in the North, South, East and West. The appreciation for these awards and the concept has been overwhelming!