Between 2023 and 2033, the social media and destination market is projected to grow at a robust CAGR of 13.7%. The market is anticipated to reach a value of US$ 127.8 billion in 2023, and a market share of US$ 459.5 billion by 2033.
- Restoration of travel and tourism activities, end users preferring online booking, and high penetration of social media is transforming travel marketing strategies. Furthermore, the usage of social media and destination marketing is only helping the sector grow.
- New travel and tour services going online, showcasing the travel experience they deliver while connecting with the consumers is enriching the marketing strategy. Alongside this, the expanding number of tour and travel package providers is also helping the market expand its boundaries.
- Other elements like destination detection, travel and intent research, customer service, and different loyalty programs are pushing businesses to adopt social medical and destination marketing.
- Helping the people who are roaming outside their city or state with place hacks and travel tips is another part of destination discovery. The future for social media and the destination market looks promising
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Key Points
- The United States market leads the social media and destination market in terms of market share in North America. The United States region held a market share of 4.0% in 2022. The growth in this region is attributed to the rising per capita income, high penetration of social media among travelers and tourists, and people travelling often post-pandemic. North America’s market held a share of 25.0% in 2022.
- Germany’s market is another important market in Europe region. The market held a market share of 5% in 2022. The growth is attributed to the presence of major tour package companies. Europe’s market held a market share of 20.0% in 2022.
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- India’s social media and destination market thrives at a CAGR of 8.0% between 2023 and 2033. The growth is attributed to the government promoting travel and tourism, high smart phone penetration, and destination-based marketing strategies followed by the companies.
- China’s market also secures a CAGR of 6.80% during the forecast period. The flourishing growth is caused by the increased number of people coming to the country to experience authentic monuments in China.
- Based on the service type, the physical tour segment leads the market as it held a major share of 38.0% in 2022.
- Based on social media platforms, the Facebook segment leads the market as it held a significant market share of 34.00% in 2022.
Competitive Landscape
The key healthcare providers focus on sector-specific social media strategies while taking account of the brand’s USP and KPIs. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
- Screen Pilot has introduced digital experience engineering for hospitality & travel industry including DBX and Carnero. The brand claims to boost bookings 3X to 6X while enhancing the KPIs.
- Net Affinity has added its social media campaign services for hotel and travel sectors. The brand offers brands like Facebook & Instagram, Twitter, YouTube, and other professional socials as well.
Key Segments Covered
By Service Type:
- Virtual Tour
- Physical Tour
By Types of Marketing:
- Media Sharing
- Micro Blogging
- Social Review Sites
- Advertisement Marketing
By Marketing Tools:
- Biteable
- Buffer
- Buzzsumo
- Meetedgar
- Hootsuite
By Application Outlook:
- Hotel
- Airlines
- Cruise
- Travel Agencies
- Others (Museums and Other Destinations)
By Tourist Type:
- Domestic
- International
By Social Media Platforms:
- Snapchat
- Youtube
Key Regions Covered:
- North America
- Latin America
- Europe
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