Tourism Market Trends

Growth Drivers

• Surge in transportation facilities: With the increasing globalization, there has been a surge in various modes of transportation, such as ocean freight transport, air freight transport, road transport, etc. Transportation is a crucial pillar of tourism development,
   
• For instance, according to the International Civil Aviation Organization, by mid-2030, no fewer than 200,000 flights per day are projected to land and take off worldwide. Hence, the development of travel networks has made it possible to reach faraway places easily and swiftly.
   
• Social media propagation: The advent of social media has played an imperative role in global travel trends. For instance, according to the United Nations, the estimated number of people who were using the internet in 2021 was 4.9 billion. The Internet and social media have introduced online booking sites, mobile applications, etc. Travelers can search destinations, plan, and book their trips online easily. Due to these reasons, the internet is acting as an extensive travel information source, making it very easy for travelers.
   
• Rising number of students studying abroad: People are becoming inclined towards studying abroad due to the quality of education, better career opportunities, personal development, etc. For instance, according to the Oxford City Council in 2021, the census showed that 35% population was born outside the United Kingdom. Also, data published by the U.S. government in 2023, Massachusetts had about 1.26 million immigrants. The emphasis on studying abroad has opened new opportunities in the domain of tourism market globally.

Challenges

• Presence of fake travel agencies: There has been concern about the mushrooming of fake travel agencies that are scamming people. Travel agency scams occur when fraudsters advertise cheap airfare on a fake website or with the help of fake social media ads. Fake agencies work by giving deceptive travel deals to the consumer.
   
• Outbreak of pandemic and epidemics: The outbreak of infectious diseases has become common across the world. Cholera, MERS, influenza, dengue, rift valley fever, chikungunya, etc., are some of the recurrent outbreaks occurring across the world, prompting travelers to limit travel.