The Rugby Union World Cup kicked off last weekend in France, considered as a dress rehearsal for next summer’s Olympic Games in Paris. However, the expected 600,000 international visitors will dwarf in comparison to next summer’s Olympiad. The Games will bring with them many opportunities but also challenges for the French tourism industry. With a forecast global television audience of four billion, a well-executed Paris 2024 could raise the profile of France as a destination from 2025 onwards.
Building back better is one of the most discussed ideas in tourism this year, particularly in Europe, and especially in the context of the post-pandemic rebound. Euromonitor International’s Sustainable Travel Index offers unique insights into resilience, overtourism, and value creation.
Leveraging the latest technology from ChatGPT to Apple’s new AR/VR headset, brands across the consumer spectrum aim to up the ante when it comes to Experience More and what it means to deliver an elevated customer experience.
Travel continues to power on, fuelled by strong consumer demand with international tourism arrivals expected to reach 95% of their pre-crisis 2019 levels, amounting to an impressive 1.2 billion trips, with spending of US1.7 trillion in 2023. The sector has put the pandemic behind it and faces a new raft of challenges: the cost-of-living crisis, war in Ukraine, rising prices, supply disruptions, climate events, generative AI and the need to transform rapidly to meet its net zero targets.
Euromonitor is partnering with accessible travel specialist Sage Inclusion to showcase key findings of a survey of its customers’ needs and preferences, along with challenges faced. People with disabilities account for 15% of the population worldwide, according to the United Nations, while Diversity and Inclusion features as one of Euromonitor International’s 10 megatrends.
As the global economy faces slower growth and high inflation, the challenges and uncertainties facing both luxury consumers and key players are escalating. The extraordinary global disruptions over the last few years have led to the rise of a new economic reality that is shaping the consumption of luxury goods and business outcomes today, but is similarly setting the benchmark of what we should expect for the short-term outlook.
ChatGPT has taken the world by storm with travel brands and destinations jumping on the bandwagon to see how generative AI can help them drive efficiencies in areas such as marketing, promotion and new product development, even sustainability. The speed of adoption is fast, however, there are some risks to consider if content and travel products become ever more generic, leading to destinations losing their sense of authenticity which makes them appealing in the first place.