Hipster Holidays and China’s Uberisation: Travel predictions that came true
Euromonitor International and World Travel Market (WTM) London collaborated for the 11th year to predict future trends shaping the travel industry in the annual WTM Global Trends Report. In 2015, two of the most popular trends from the WTM Global Trends Report were:
2015 WTM Global Trends Report revealed visitors are looking beyond the mainstream, exploring alternative districts popular with local hipsters. Airbnb and its peers have played a central role in opening up these areas to tourists, as many lack hotels, with private rentals often being the only option for staying locally.
In January 2016, the financial website thestreet.com reported that the world’s traditional tourist destinations are becoming old-fashioned, as travellers are becoming more interested in unique and less known neighborhoods, such as Kreuzberg in Berlin, District VII in Budapest and Amsterdam Noord in Amsterdam. Some travel companies are also starting to jump on this trend, offering hipster tours of specific city districts, often led by local residents to enhance authenticity.
The Uberisation of China
2015 WTM Global Trends Report predicted the sharing economy taking off in China with home-grown ride-sharing companies.
In August 2016, Uber announced its intention to sell its Chinese operations to rival Didi Chuxing, ending a battle which cost both companies billions of dollars in subsidies for passengers and drivers in their fight for market share in China.
Wouter Geerts, Travel Analyst at Euromonitor comments: “In the past year, the travel industry has faced turbulent times, but travellers have proved extremely resilient. Responding to external shocks and changing consumer behaviours is challenging, but the upcoming WTM Global Trends Report shows how travel brands and destinations are grasping the opportunities thrown up by a constantly changing landscape.”
World Travel Market London, Senior Director, Simon Press, said: “The WTM Global Trends Report, in association with Euromonitor International has been successfully predicting trends in the travel and tourism industry for more than decade. Everybody in the travel industry will be awaiting the release of this year’s report at WTM London 2016 to discover the industry trends of the future.”