Driven by the steady growth of trips to and within Europe, the attractions and experiences market had never been so large or diverse as it was at the start of 2020. The global Coronavirus (COVID-19) pandemic however put an abrupt halt to tourism across Europe. As movement slowly resumes, the market is pivoting to cater to visitors closer to home, while preparing for more permanent changes. The experiences market emerging in Europe offers important lessons for global tourism.
This report comes in PPT.
Tours and experiences sales will lag those in transport and lodging in 2020, as spending becomes restricted and consumers look to make leaner trips. Recovery however will benefit from digitalisation efforts in place before COVID-19.
After months of lockdown, consumers have gained a new appreciation for their local surroundings and will be willing to travel more locally given the restrictions of long distance travel. Localised services will sit alongside existing offerings moving forward.
Sustainability will be increasingly important to the way consumers travel, as tourists demand more transparency from tour companies and experiences providers, and seek out more balanced, sustainable ways to experience destinations.
The tours, attractions and experiences market was ripe for disruption, in line with megatrends that favour more authentic, experience-driven travel opportunities. Digital players such as GetYourGuide and Airbnb will re-emerge quickly, leveraging technology to streamline offerings, generating new opportunities for consumers.
Some experimentation from experience providers will outlast the pandemic, including new virtual experiences which were an important lifeline for guides and a crucial escape for consumers confined to their homes.
In the coming “new normal”, in-destination experiences will drive value, benefiting from increased visibility from digital marketplaces and higher quality offerings differentiated from the commoditisation of experiences that can be had virtually.
In-destination experiences will frame the packaged holidays curated and sold for consumers, taking a more prominent role moving forward. Experiences will be available at the time of booking, along with flights, lodging and local transport.
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
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