KUALA LUMPUR, Nov 8 — The global travel industry is facing challenges due to political turmoil and changing consumer behaviour, despite a forecasted increase in average spend per trip at US$1,101 by 2024. (US$1 = RM4.13)
This is according to a global market research company, Euromonitor International via its ‘Megatrends Shaping the Future of Travel: 2019 Edition’.
Revealed at the World Travel Market London 2019, the report looks at the latest trends shaping travel across the Asia Pacific, Americas, Europe as well as the Middle East and Africa.
For consumers in Asia Pacific, they are using multifunctional mobile ‘super apps’, combining social, financial and retail services on one platform.
With apps like WeChat holding one billion monthly active users, super apps have significantly contributed to the US$227 billion online intermediaries’ sales this year.
However, the threat of the United States-China trade war could impact Chinese outbound tourism growth.
More details at https://go.euromonitor.com/