The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreNov 2013
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Despite recent headline news about the slowdown experienced in the BRICS economies, these countries continue to command strong appeal. BRICS consumers are moving online in their droves and together make up 38% of the world’s netizens. For travel players engaging with consumers in a travel mobile-social space will be critical for future success.
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Despite recent headline news about the slowdown experienced in the BRICS economies, these countries continue to command strong appeal, accounting for 40% of the world’s population, 22% of its GDP and a staggering 58% of middle-class income.
Thanks to the world’s largest online population, China is poised to become one of the top markets for e-commerce, with local travel companies faring well. The growth of independent travel in the country is also favouring online sales.
In the BRICS, the fundamentals are in place for tourism demand. However, the share of online travel is low in the BRICS, at only 7% compared to the group’s comparative share of smartphone users (35%), m-commerce (23%) and outbound tourism demand (14%).
Smartphones are becoming more mainstream across the BRICs, encouraging m-commerce. Mobile travel sales are steadily increasing in all BRIC countries, although from a small base.
In the BRICS, word of mouth is key. Social media giants like Facebook and Twitter have high profiles in countries like Brazil, Russia and India, while home-grown players are also strong, but are banned in China.
Structural challenges include rolling out internet connectivity from urban to rural areas, the slow uptake of credit cards, consumer attitudes to e- and m-commerce and the associated risk of fraud. Censorship of social media sites and privacy issues with regard to big data will be hotly debated.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.