KUALA LUMPUR, Nov 10 -- With world arrivals forecast to be down 50 per cent by 2020-end, the global travel supply chain is under immense pressure, according to global market research company, Euromonitor International.
In Euromonitor International’s new report, ‘Accelerating Travel Innovation after Coronavirus’, countries are using innovation to accelerate recovery due to the reality of a global recession and new waves of the virus.
According to a statement, in Europe, a strong rebound of five per cent real GDP growth and a 76 per cent increase in inbound receipts are expected next year.
Sustainable tourism will play a big part in the recovery process, with countries looking to achieve net positive impact for local communities, especially in destinations suffering from over-tourism, like Barcelona.
Meanwhile in Asia Pacific, recovery is expected within three years—relatively quicker than Western Europe.
Home to the world’s largest population of Internet users, innovation in the region is already thriving, with concepts tackling various needs during lockdown, including customer journey, mobility and sustainable destination management.
With mobile sales accounting for 62 per cent of all APAC online sales this year, this trend will continue apace post-pandemic. By 2025, Singapore will lead online travel sales with an average spend of US$1,200 per person a year. (US$1 = RM4.11)
In the Americas, Panama and Argentina are forecast to experience a 20 per cent CAGR in inbound receipts in 2021-2025, ahead of the US at 12 per cent CAGR.
Digitalisation is accelerating with a wide range of technology incorporated into new travel concepts, including AI, automation, blockchain and the Internet of Things, to create a safer, more sustainable and seamless travel experience.
-- BERNAMA
No comments:
Post a Comment