The long term trend in the travel and transport sector is one of growth - more people travelling more often. However, cost, convenience and environmental concerns will continue to challenge this.
- New market entrants promoting the ‘sharing economy’, such as Air BnB and Uber, disrupt well-established players in the market.
- Customer loyalty will only be maintained as long as prices remain competitive, and environmental concerns continue to be an issue for travel companies with consumers and businesses demanding ‘greener’ travel options.
- Social media continues to heavily influence consumers’ travel decisions, with 79% of people ranking TripAdvisor as the source of information most likely to influence choosing a hotel.