VIEW­POINT Tar­get­ing Mil­len­ni­als

TravTalk - India - - Statistics -

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!

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