Market Research Blog

The destination wedding market with the rising penetration of social media. Usage of drone footage in marriage events takes destination weddings to the next level. Future Market Insights (FMI) in its latest study has forecast the market to rise at a CAGR of ~30.6% between 2021 and 2031.

The digital travel market is expected to reached a valuation of US$ 400 Bn in 2022 and expected to reach US$ 1,618 Bn in 2032, at a 15% CAGR

The digital travel domain across the world is basking with a slew of new customer friendly initiatives that are cementing their base in the extremely competitive travel and hospitality sector. Digital travel sales have soared in the last few years. Insiders are expecting that the digital travel sales will touch a few billion dollars in the forthcoming years. More number of travellers are taking the digital path to reach their coveted tourist destinations.

The digital revolution has opened several new corridors for tourists who are eager to set sail into the unknown. Online travel platforms have empowered consumers as well as hoteliers. A large pool of information and the chance of understanding the contenders are some of the significant factors that are impacting the growth of the digital travel sector. Several studies in the past talked about the changing trends of digital travel.

The emergence of the android market and a massive boost in the number of mobile-friendly consumers are some of the major factors that are significantly changing the demography of the tourism and travel industry around the world.

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The modern breed of travellers is clinging into their mobiles for all travel related activities. Whether it is flight booking or hotel booking travellers are relying on digital platforms rather than the conventional mediums of travelling. The online platforms or digital travel space is filled with latest offers and packages to lure maximum travellers.

To avail some extremely happening offers customers are queuing in on digital travel platforms. The digital travel canvas is populated with several in-depth reviews and blogs on travel destinations and facilities that are extremely helpful for tourists. Apart from this the social media platforms also play an important role for travellers. A traveller’s group on social media or a Facebook page of a luxury hotel can feed in some key information to budding travellers.

Digital Travel: Game Changers

The travel industry is eroded by the digital drive. The digital drive has immensely changed the face of the industry and paved a new way of growth for stakeholders. Digitisation has multiplied the growth of the industry and benefitted it in many ways. The digital boom has equipped a massive population of travellers with apps and user-friendly systems that havetattered the conventional set rules of the travel industry.

The market is flooded with several tourism and hospitality friendly apps that have helped redefine the service quality of the hotel and airline industry and also affected their annual revenues. Advanced cloud computing technology has simplified the entire travel experience of a tourist.

Travel companies today can preserve crucial data related to customer behaviour and can use this to offer enhanced customer experiences. Several hotel chains and tourism companies are doing every bit to ride the digital growth wave. They are using tailor-made apps, customer friendly software and a plethora of digital processes to enhance customer experience.

A glut of travel blogs, pictures and other firsthand accounts of surfers are motivating new travellers and it is changing the dimension of the travel industry. Social media platforms are bustling with travel experiences and travel deals. The sudden boom has created a pregnant market for the travel industry and popularised the concept of digital travel.

Digital Travel: Restraints

Though the concept of digital travel has earned ample accolades in the last few years, there are some hurdles that are likely to muzzle its potential growth going forward. The underdeveloped travel and tourism sector in different parts of the world and a massive population of elderly citizens is creating a vacuum in the digital travel sector. Further, the surge of digital travel is blocked by several natural and manmade disasters that have occurred in the last few years.

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Digital Travel: Bigwigs

The digital travel sector is populated by several customer-friendly apps that are extremely useful for tourists and business insiders. Platforms such as travelpod.com, flickr.com, technocrati.com, 43places.com, and tripmates.com are some of the frequently used sites by tourists and service providers.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The saudi arabia hajj tourism market is likely to surge at a vigorous 7.0 % CAGR from 2022 – 2032. Likely to reach a market revenue of US$ 150.0 Bn in 2022, and is expected to cross US$ 350.0 Bn by 2032.

The Hajj is an annual journey to Mecca in Saudi Arabia and is the world’s largest mass gathering. All the physically and financially able grownup Muslims make Hajj at least once in their lifetime.

Around two million Hajjis travel to Saudi Arabia during September to visit Islam’s holiest places, Mecca and Medina. Earlier, Hajj was a simply a traditional ritual in the Islamic world, but in recent days it has become a tourism destination because of the facilities evolved over the last few years.

The Hajj signifies main tourism prospect for both national and international stakeholders, mainly tour operators and hotel groups. The Saudi Arabia government is also supporting this holy gathering by investing in hotels and renovating ancient religious sights. To promote Hajj tourism globally a landmark hotel named as Abraj Kudai Hotel is in the pipeline – this hotel is anticipated to be the world’s largest hotel with 10,000 rooms.

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Hajj is emerging as a perennial flow of religious tourists and is a primary source of revenue generation from international pilgrims from countries with a large Muslim population. Domestic pilgrims are also contributing to the revenue generation. Some of the international pilgrims come from countries such as India, Indonesia, Nigeria, Morocco, and Algeria among many other Muslim countries.

Saudi Arabia Hajj Tourism Market: Drivers and Opportunities

Mainly, factors such as religious faith or established rituals to follow among spiritual Hajjis and the growth in per capita income are driving Saudi Arabia Hajj Tourism Market by bringing Hajjis from all over the globe. The other drivers that trigger the demand for Hajji Tourism in Saudi Arabia are the comforts and facilities built for the devotees, ease in travel and accommodation. Besides, many historical monuments are renovated by the Saudi government which become add-on tourist spots and major attractions for the pilgrims.

Saudi Arabia Hajj Tourism Market is an enormous opportunity for travel and hotel industry for future business prospects. Some opportunities listed are many domestic and international airlines including Qatar Airways, Qatar’s Al Maha airlines that provide their services on domestic and international routes, and this will increase the competition.

The rise in the volume of national and international Hajjis propell the demand for accommodation thereby boosting hotel rentals. Backpack concept in areas such as Riyadh, Jeddah and Medina is also coming up as a possible opportunity with a business and facility point at Hajj Tourism within the Saudi Arabia tourism industry.

Saudi Arabia Hajj Tourism Market: Restraints

As Hajj is practiced from ancient time and is a tradition in Islamic region, persistence in the visit by devotees can be seen significantly, but some factors such as lack of facilities, chances of accidents, and lack of travelling provinces are slowing down the volume of pilgrims to an extent.

Although the government and private sector have taken many initiatives to overcome the hindrances to some extent, certain restraints such as large rental car booking, shortage of rental vehicles, over occupancy of accommodation, serious crowding of the places and unorganised facilities hinder Saudi Arabia Hajj Tourism Market.

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Saudi Arabia Hajj Tourism Market: Options

As per the 2013 Saudi Tourism and Antiquities Committee (SCTA) count, there were around 160 tour agents in Saudi Arabia catering only to religious tours mainly Saudi Arabia Hajj Tourism Market.

Some of the prominent Hajj tour operators who provide their services to tourists across the world include Flynn’s Company LCC Accor KSA, Al Tala’a International Transportation Co. Limited, Fly Dubai Saudi Arabia, Al Tayyar Travel Group, Zamil Travel, Avis Saudi Arabia, Zahid Travel Group, Boudl Hotels & Resorts, Wyndham Hotel Group Saudi Arabia, and Europcar Saudi Arabia among many others.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:                    

Future Market Insights,
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For Sales Enquiries: sales@futuremarketinsights.com
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The halal tourism market is projected to reach a valuation of US$ 255.0 Billion in 2022, likely to surge at a vigorous 4.0 % CAGR from 2022 – 2032 and is likely to reach US$ 365.0 billion by the end of 2032.

The “halal” term means permissible according to Islamic laws and teachings. With a rise in the number of well-heeled Muslims, the halal industry has expanded into various lifestyle offerings including halal travel, tourism, and hospitality services. The halal tourism is a particular type of religious tourism which focusses on the things which are in conformity with the Islamic laws and teachings regarding diet, dressing, conduct, and behaviourisms.

The global halal tourism industry has been accounted as one of the fastest growing tourism segments in the world. The recent development in the global halal travel and tourism industry is caused by the ethical consumer trends and the change in the temperament of Muslim consumers globally.

Global Halal Tourism Industry: Drivers and Restraints

Halal tourism has gained a massive acceptance in recent times, and it is now becoming a new phenomenon in the global tourism industry. The halal tourism industry refers to the tourism products and hospitality services following the Islamic beliefs and practices. These activities involve serving of halal food, alcohol-free dining areas, separate spa and leisure activities for men and women, separate swimming pools, prayer facilities, and even beach areas which are only open to women.

Previously the halal tourism industry was mostly associated with the pilgrimages Hajj and Umrah. The growth in the higher middle-class Muslim consumers and the increase in the degree of interconnectivity has made travelling a part of life, thereby, changing the preference of Muslim tourists from traditional destinations such as Mecca and Medina to top holiday destinations and resorts.

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The halal tourism industry is expected to go mainstream and develop as an integral part of the prospering global halal tourism sector. The global hotel and resort tourism sectors have flourished in recent years to fulfil the demands of Muslim travellers who want to enjoy full leisure and hospitality services, which at the same time caters to their religious requirements as well as follows the Islamic customs and culture.

This development is expected to drive the global halal tourism industry over the forecast period. Many countries across the world such as Turkey, Egypt, and Malaysia have already adopted this change into their tourism offerings to include accommodations and other facilities in accordance with the religious beliefs of Muslim tourists.

In addition to the Muslim countries, some non-Muslim countries including Singapore, Australia, and France have also shown a strong interest in the halal tourism industry. The presence of halal certified bodies such as food outlets etc. are making these countries a favourite destination for Muslim travellers which in turn is expected to drive the global halal tourism industry over the forecast period.

Global Halal Tourism Industry: Key Regions

Malaysia is one of the fastest growing countries in the global halal tourism industry sector. This country so far has managed to attract Muslim travellers from all over the world especially travellers from the Middle East region. Recently this country was ranked among the top 10 halal-friendly tourism destinations in the world. The halal tourism industry is personalised according to the specific needs of Muslim tourists who primarily seek a family friendly environment.

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The countries which are the members of the Organization of Islamic Countries (OIC) are the primary sources of the halal tourism industry. The fast growing resident Muslim population in some of the non-Muslim majority regions including North America, Europe, India and China is expected to offer substantial growth opportunities for the global halal tourism industry during the forecast period.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

Key Segments

By Tour Type:

• Domestic
• International

By Consumer Orientation:

• Men
• Women

By Tourist Type:

• Independent Traveler
• Tour Group
• Package Traveler

By Age Group:

• 26-35 Years
• 36-45 Years
• 46-55 Years

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• MEA

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:                    

Future Market Insights,
Unit No: 1602-006
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Jumeirah Lakes Towers
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The global cultural travel market to be valued at US$ 462.50 Million in 2022 and is projected to increase at a CAGR of 6.54% in the forecast period from 2022 to 2032.

As per FMI Analysts, the global Cultural travel market is estimated

The developing tourism arena is flanked by millions of tourists. These tourists are gutsy and they are ready to extend their horizon of knowledge. The cultural travel segment is one such segment of tourism that ushers in a huge pool of tourists who are eager to follow a new path and quench their indomitable thirst for knowledge. Cultural travel is a perfect platform for gaining knowledge about any place.

Most of the culturally rich countries are promoting this extremely rich mode of tourism for the last few years. Cultural tourism is not only feeding the wanderlust of tourists, but it is also a correct medium to preserve some abrogating cultures spread across the globe. Cultural travel is a marriage of the past and present.

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Through cultural travel, countries are not only benefitting their tourism economy, but they are also providing a befitting platform to showcase a particular culture. By curating a proper cultural travel network the cultural branding of a particular property or location can attract immediate media attention.

Recent studies have clearly highlighted the evolving spending pattern of cultural travelers, who spend approximately 37 percent more on their travel than the normal globetrotters. Hotels and luxury properties also earn more as the cultural tourists tend to extend their stay in a cultural locale. The emerging trend of experimental tourism is also redefining the contours of cultural travel.

Cultural Travel: Game Changers

The growth of cultural travel is backed by the all-round development of the tourism industry. The cultural travel sector is also extremely benefitted by the slew of promotional measures doled out by several governments to promote dimming cultures. The emergence of a new army of tourists who are opulent, educated and aged is also providing adequate fodder for the development of cultural travel.

Cultural Travel: Restraints

The phantom of terrorism is diminishing the global surge towards cultural travel. Several cultures have been badly fractured by the wrath of terror unleashed on them over the last few years. Natural disasters and the swelling number of millennial tourists are also barricading the organic growth of cultural travel as a potential tourism experience.

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Cultural Travel: Bigwigs

There are several institutions and travel agencies that organise tailor-made cultural tours. Government aided tours are also organised in different parts of the world with the sole intention of promoting and nourishing a particular culture.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

Key Segments Profiled in the Cultural Travel Market

By Type:

• Domestic cultural tourism
• International cultural tourism

By Category:

• Cultural eco-tourism
• Indigenous cultural tourism
• Socio-cultural tourism

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:                    

Future Market Insights,
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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