|The Rise of Asia and the Death of Traditional Airline Cabin Classes.|
WIT 2010 ~ Web in Travel
Saturday, 2nd October 2010
Asia will rise, traditional airline cabin classes will disappear, business travel will decline and delivering a total travel experience will be paramount.
That’s how a new industry report, The Travel Gold Rush 2020, sees the future of travel.
Developed by Oxford Economics, a prominent economic forecasting consultancy, and commissioned by Amadeus, the report aims to identify key profitability drivers for the industry in the years ahead
Based on macroeconomic forecasts and extensive input from key industry experts across airlines, travel agents, think-tanks and international organisations, the report details new revenue opportunities, drivers of profitability, new models for delivering services and the changes in traveller tastes set to influence the future of the industry.
The key findings are:
The global picture: Asia set to dominate travel spend by 2020
Whilst 2010 has seen a return to global growth, Europe remains sluggish and the outlook is uncertain. Looking forward to 2020, the study outlines how Asia will account for one third (32 percent) of global travel spend which is up from only 21 percent today, representing a dramatic realignment over the next 10 years. (Picture shows skyline of Beijing)
Options for growth: delivering the ‘total travel experience’ requires new models
The key to unlocking growth and profitability in the travel sector is delivering a ‘total travel experience’ which has so far proved elusive. The report explores the potential for airlines to become high speed transport and communications brands fulfilling their mission to connect people whether through the integration of high speed rail or even video conferencing.
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