Growing middle class markets in emerging economies mean the long-term prospects for travel are good.
Delegates at the WTM Vision Conference – Florence last week were told by a travel market analyst that ‘the next five years would look brighter’.
Angelo Rossini, Euromonitor International travel and tourism analyst, told the conference: ‘The long-term prospects are good for the travel and tourism industry.’
He highlighted the growing middle classes in emerging countries, which now have the money and the hunger to travel.
Tourists from developed countries would continue to travel but they would look for cheaper alternatives.
‘It is very hard for people to give up travelling, so they will look for cheaper options such as short breaks or low-cost holidays,’ he said.
Fiona Jeffery, Reed Travel Exhibitions chairman World Travel Market, added: ‘The travel industry needs to take a long-term approach.
‘The emerging economies offer a lot of opportunities. While there are still opportunities in the mature tourism countries, they just need to be tailored to the trends and circumstances.’
The conference also heard how the travel industry’s technology was criticised for being outdated.
Tommaso Vincenzetti, Amadeus Italia marketing director, said: ‘The industry works in a way which is way behind what people are used to.’
Last week’s event was the second annual WTM Vision Conference in Italy. It was the final in the series which has also travelled to Moscow, London, Dubai and Shanghai.
To see more from WTM Vision in Italy, click here.