Information for the Bhutanese Travel Professional
Results of New Travel Survey
Posted on 26 October, 2008 in Views | Tags: Business
Below is a survey just taken at a travel show in Washington D.C. It is interesting to note: “The current economic climate will affect how and where these travelers will take their vacations. 76% of respondents are more likely to take less expensive vacations with 64% looking for better travel deals to help finance their vacations. New Traveler Survey Shows only 70% will maintain vacations in 2009″
Bhutan has always been an expensive place to visit, albeit with justification, but in July 2009 it will get even more expensive, with the tourist tariff going up 25% across the board.
That’s great if you can sell it! With any product, actual worth is only what someone is willing to pay for it. If Bhutan welcomes over 25,000 visitors in 2009 as projected before the economic crisis, then tourism officials made the right move.
But I am of the opinion that the current economic crisis, compounded by such a high increase in fees, will cause tourist arrivals to plummet to low levels not seen in ten years. So I think tourism officials should revisit the proposed increases in tourism tariffs and put those increases on hold until such time as the worldwide economic crisis abates.
In place of the increase in tourism tariff, the recent run-up in the value of the dollar plus declining fuel costs, if sustained, should help the tourism industry deal more easily on ever-increasing costs.
This economic crisis is deep and is impacting the top five source markets: USA (27.4%), UK (10.4%), Japan (9.5%), Germany (6.9%) and Australia (5.6%). Since the USA represents the top source market and the USA is indeed affected the most, one can only surmise that tourist arrivals from there will be significantly down in 2009.
Most financial pundits here in America predict a 2 to 3 year recession, and when the economy comes back it will look nothing like it did before the fall. We Americans are too used to using credit to finance things like wide screen TVs and lengthy tours abroad and that credit won’t be available any longer.
Now is the time to take a second look at the proposed tariff increases and put those increases on hold.
Results of New Travel Survey
Now, more than ever, the tourism industry needs to strengthen its ties with buyers while nurturing new prospects and investing in new tourist markets.
Like most of us I am sure you’re thinking about how new economic realities will affect your ability to maintain a strong customer base.
Just this week we surveyed consumer attendees of the 2008 Adventures in Travel Expo (ATE) and found some surprising results.
First and foremost, the ATE attendees are a hearty travel bunch. Over 90% declared that their vacations are “Extremely Important” or “Very Important” to them, with 94% stating they will not forego their vacations in 2009 despite the economic downturn.
ATE Attendees are also very well traveled with over 63% taking 2-4 trips in the last year.
Strikingly, 70% will be taking the SAME number or MORE vacations in 2009.
And, only 2% of our surveyed consumers have no plans to travel over the next year.
That’s good news for the travel industry and Adventures in Travel Expo’s Exhibitors!
However, the current economic climate will affect how and where these travelers will take their vacations.
76% of respondents are more likely to take less expensive vacations with 64% looking for better travel deals to help finance their vacations.
So what does this new information mean to Travel Providers?
Firstly, there will still be plenty of U.S. consumers looking to take great vacations in 2009!
But, successful travel marketers will need to stress quality and value. Seasoned travelers will continue to spend on trips, tours and vacations, but they will increasingly examine all aspects of their itinerary and look to maximize value with economic AND emotional return.
The most important thing travel marketers can do to solidify their business in the coming economic turbulent times is to make sure they stay in front of these high value travelers. Marketing dollars need to be selectively spent on reaching those consumers that are most likely to buy a trip.
Adventures in Travel Expos are America’s travel shows. Over 375,000 active and adventure travelers have attended our shows over the past five years in New York, Chicago, Los Angeles, Washington DC and Seattle. ATE attendees spend over $273 million on travel each year. These are proven result oriented events and the largest series of shows in the USA. In fact our Los Angeles Times Travel and Adventure Show is the largest show in the country!
As a matter of fact, Ruth Daly at Travelscene said about our shows recently:
“Adventures in Travel Expos have done it right again! We made a booking worth over $50,000 for a family we met at the Seattle Show in September! Another winner in our books!”
If history is a teacher, then we can expect consumers to tighten their expenditures and increase their demands for high value. But one thing is clear, even in economic downturns people still take their vacations!
Where will these resilient travelers go in 2009?
That’s up to you.
So the question is…is a $273 million dollar travel marketplace worth your time?
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Contributed by Robin Smillie,
Owner of www.rainbowphototours.com
Posted on 26 October, 2008 in Views | Tags: Business
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