Market Research Blog – Page 9558 – New Product Development

Vacation Rentals Market is Projected to Reach USD 119.0 Billion by 2032

The global vacation rentals market is expected to reach a value of US$ 119.0 Bn by 2032, with sales growing at a moderate CAGR of 5% from 2022 to 2032. In 2022, the target market will likely reach an estimated US$ 74.0 Bn; fueled by prevailing travel trends like solo trips, fitness and wellness trips, etc., along with a growing demand for customized accommodations while travelling. The recent popularity of travel and adventure trips also supplements the growth of the vacation rentals market over the forecast period.

Fully furnished accommodation with various amenities that are managed by owners or by professional management companies are categorized as vacation rentals. These rentals are alternative hotels, resorts and other accommodation places. These are conceived in a way that the market will cater to all type of travelers all the while accommodating their budget.

Vacation rentals have gained momentum across the world in the past couple of years and will continue to do so during the upcoming decade primarily due to the growing interest in travelling and the expanding travel industry. In addition to this, the growing popularity of different travel trends is inviting the participation of a wide range of travellers and spurring the demand for vacation rentals type of accommodation in both developed and developing countries.

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In terms of popular trends, short-term rental properties is rapidly gaining traction and is one of the key growth driver of vacation rentals market. Due to hectic and stressful lifestyles, many people are keen on traveling to various places and moving out of their fast-paced life. These travellers are looking for a change of environment. Consequently, there is a high demand for short-term rental properties in market. The vacation rentals are a suitable answer to these demands as they meet the travellers’ expectation of comfort and convenience with in their budget.

Furthermore travel trends like solo travel and health and fitness trips are getting increasingly popular. A fast and chaotic urban lifestyle, full schedules, stressful environment, etc., is creating a greater demand for health and fitness trips. The rising trend of wellness and fitness trips are swiftly making notable contributions in the tourism sector. These fitness and wellness trips are supposed to rejuvenate the mind, body, and spirit and often include adventurous activities. Because of this, many people prefer to spend more on the activities rather than the accommodation which promotes economical vacation rentals. All of these factors foster an atmosphere of growth for the vacation rentals market during 2022-2032.

“Vacation rentals offer many benefits such as better privacy, exposure to local culture and tradition, opportunity to cook and the ability to decide their own schedule. This fuels the growth of the vacation rentals market over the forecast period,” says an FMI analyst.

Key Takeaways:

Rising travel trends may strengthen the market prospects for 2022-2032.
Favorable government initiatives in India will aid market growth in the country.
Vacation rentals dominate the hospitality market in the U.S.
Home & apartment vacation rentals will record the highest demands.
By age, the 15-25 and 26-35 group will contribute substantially to the market growth.
Online booking channel is highly preferred by travellers.

Competitive Landscape

Airbnb Inc., 9flats.com Pte Ltd., Wyndham Destinations Inc., Expedia Group Inc., MakeMyTrip Pvt. Ltd., Oravel Stays Pvt. Ltd., Booking Holdings Inc., Hotelplan Holding AG, NOVASOL AS, TripAdvisor Inc., Destination Club, Tripping.com, Peer-to-Peer Property rental, Canada Stays, and Homeaway among others are some of the major players in the vacation rentals market profiled in the full version of the report.

Major market players are concentrating on facility expansion to cater to the growing demand. These businesses are also increasing their investments and engaging in mergers, partnerships, and acquisitions to gain a larger consumer base.

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Global Vacation Rentals Market by Category

By Accommodation Types, Global Vacation Rentals Market is segmented as:

Home
Apartments
Resorts / Condominium
Others

By Booking Channel, Global Vacation Rentals Market is segmented as:

Online
Offline

By Price Range, Global Vacation Rentals Market is segmented as:

Economical
Mid-Range
Luxury

By Booking Channel, Global Vacation Rentals Market is segmented as:

Online Booking
In-Person Booking
Phone Booking

By Tourist Type, Global Vacation Rentals Market is segmented as:

Domestic
International

By Age Group, Global Vacation Rentals Market is segmented as:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 years

By Region, Global Vacation Rentals Market is segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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About FMI:

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Mountain and Ski Resorts Market is Projected to Reach USD 28.0 Billion by 2032 | FMI

The mountain and ski resorts market is estimated at USD 15.0 billion in 2022 and is projected to reach USD 28.0 billion by 2032, at a CAGR of 9.0% from 2022 to 2032.

Over a decade the tourism market has shown an immense growth. The tourist travels various place for many reasons. In recent years there has been a rise in tourist travelling for leisure. As people are becoming health and fitness cautious the peoples plan to travel the places which are located in natural environment and also that will budget friendly. Therefore, there is a high demand for mountains and ski resorts.

The mountains and snow tourism majorly account for approximately 15-20% of total tourism industry. The cultural landscape, fresh air, nature beauty, the scenic mountains attract travelers to visit mountain and ski resorts. The resort owners try to provide the best service with unique factor the natural touch of the environment. This allows resorts to benefit from the natural environment as well as travel get an opportunity to experience something new along with the activities.

Hakuba ski resort situated in hakuba valley offers various activities such as like snow sports and mountain sports but along with that they offer services like snowboard school, snow sports school, and ski lessons. Apart from that they promote Japanese culture by Japanese touch in cloths and ambience of resort. They also organize various tours that represents Japanese culture.

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As such, the global mountain and ski resort market is estimated to expand at a CAGR of over 9.0% throughout the forecast period of 2022-2032, to be valued at US$ 28.0 Bn by the end of 2032.

Key Takeaways from the Mountain and Ski Resorts Market Study

In case of tourist type there will be high number of international tourist to travel to the mountain and ski resorts. The rising trends of outdoor activities such as hiking, trekking, skiing, snow activities in countries like America, India, China and attractions towards famous snow destinations will attract travellers across the country. This will result in huge demand for mountains and ski resorts.
Mountain and ski resorts are fuelling the business of local manufactures of the region. The mountain and ski resorts source food and necessary products such as artisans, linens etc. from local vendors. This strategy creates a good bond with nearby manufacturers and allows to provide a little local atmosphere to their customers.

Impact of COVID-19 on the Market

Covid-19 had a major impact on all the sectors and majorly effected tourism sector specially on hospitality sector. As a result of lack of tourism due to covid-19 lockdown restriction imposed by the government of various regions there was a less demand for mountain and ski resorts. Also, the result of pandemic resulted in disturbance of supply chain and disrupted the operations of mountain and ski resorts.

Hence resorts faced a huge loss during pandemic situations. The post covid-19 impact had a positive effect on resorts. In post pandemic situations the people become health conscious and considered natural environment as a source of their recovery and sustainability. The pandemic triggered the behavioral change in travelers. The moderate influence of environment and sustainability raised the opportunity for mountain and ski resorts.

Who is winning?

Leading manufacturers of Mountains and Ski Resorts market are focused on promotional strategies, upgradations and technological development, and new merger strategies that have driven sales growth of mountains and ski resorts market globally.

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Major players present in the mountains and ski resorts market are Whistler Blackcomb, Himalayan Castle Resort, Tochal Ski Resort, Chamonix, Breckenridge, Hakuba, Jackson Whole Mountain Resort, Arapahoe Basin Ski Resort, Solang Valley Resort, The Vintage, Vail Resorts, Steamboat, are among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of the global mountains and ski resorts market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the mountains and ski resorts market based on the Service Type (Skiing, Trekking, Rides, Sledding, Snowmobiling, Others) Booking Channel (Online Booking & In Person Booking) Tourist Type (Domestic & International) Tour Type (Independent Traveller, Group Trip, Family trip) Consumer Orientation (Men, Women & Children) Age Group (15-25 Years, 26-35 Years, 36-45 Years) across seven major regions.

Global Mountain and Ski Resorts Market by Category

By Services Types, Global Mountain and Ski Resorts Market is segmented as:

Skiing
Trekking
Rides
Sledding
Snowmobiling
Others

By Booking Channel, Global Mountain and Ski Resorts Market is segmented as:

Online Booking
In Person Booking

By Tourist Type, Global Mountain and Ski Resorts Market is segmented as:

Domestic
International

By Tour Type, Global Mountain and Ski Resorts Market is segmented as:

Independent Traveler
Group Trip
Family trip

By Consumer Orientation, Global Mountain and Ski Resorts Market is segmented as:

Men
Women
Children

By Age Group, Global Mountain and Ski Resorts Market is segmented as:

15-25 Years
26-35 Years
36-45 Years

By Region, Global Mountain and Ski Resorts Market is segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

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Rotels Market – Business Opportunities and Global Forecast to 2032

The Rotel market is estimated to reach US$ 22 Bn in 2022. As per the report, sales are forecast to increase at a robust 11.6% CAGR, with the market valuation reaching US$ 79.9 Bn by 2032.

Travelers all around the world are always looking for something new and interesting to feed their unceasing desire of wanderlust. Searching for good place to stay along with traveling often makes the tour hectic for the travelers. This scenario is taken care by just opting for a rotel suitable for traveler’s route.

Once they have decided the type of rotel according to their wish, the only job left for the travelers is to enjoy their journey without any extra complications that might add on when travelling individually or when the travel and accommodation has to be operated separately.

Rotels also offer exciting tour packages with luxurious experience which is something every traveler craves for. These travel tours often comprise of pilgrim routes, routes that have historical and cultural importance and also the routes with heart melting scenic views.

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In addition to this, there are several emerging companies who are willing to have a share of this market. Hence, the promotion of these new hotels on wheels is happening on a great pace gaining the attention of tourists. These new companies are taking rotel concept on next level by addition of new routes of travel and world class cuisine offered on board.

“New technology being introduced and the sector dominated by leading player of automotive will take rotels market to new heights “Says an FMI analyst.

Key Takeaways from the Rotel Market Study

Germany followed by India dominated the market and held the largest revenue share of in 2021. Germany, India and France are the key markets for Rotel globally.
In terms of booking channel, online booking segment is estimated to account for the relatively highest value share in the Rotel market as this mode of booking is very convenient and various discounts and offers by the agencies encourage tourist to opt for online mode of booking.
In terms of vehicle type, railway segment leads in terms of market share as there are lot of options and traveling by railway provides more comfort and luxury.
In terms of tourist type, domestic segment dominated the Rotel market in 2021, as travellers are more familiar with the rules, laws and tax policies pertaining in their region.
In terms of age group, 26 to 35 age segment dominated the market, as they are energetic, inquisitive, and adventurous, with a positive attitude toward indulging in and exploring new places, as well as having a general understanding of their respective culture and theme.

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Impact of COVID-19 on the Market

The COVID-19 outbreak has emerged as a major threat to the global travel and tourism industry, severely affecting the Rotels industry as well. However, the global pandemic has also accelerated the rate at which digital technology is utilized into everyday life. Across the Rotel sector this includes online reservation systems, also the rotel companies have made a good use of this pandemic break by adding exciting packages in their deals. The rotel industry having the ability of travelling and accommodation at the same time will help in boosting the Rotel in coming years.

Who is winning?

The players operating in the Rotel industry have adopted various developmental strategies to expand their market share, exploit the Rotel market opportunities, and increase profitability in the market. Major players present in the Rotel market are Das Rollende Hotel, Truck Surf Hotel, Radisson Blue, Georg Höltl GmbH & Co.KG (Rotel Tours), Audley Travel Group Limited, Palace on Wheels, Midnight Trains, Caledonian Sleeper, Anderson Mobile Estates (The Heat) among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of the Rotel publishers market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Rotel Market By Vehicle (Railways, Bus, Van), Regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA), Booking Channel (Online booking, Phone Booking, In person Bookings), Tourists Type (Domestic and International), Tour Type (Independent Traveler, Tour Group and Package Travelers), Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years,56-65 Years, 66-75 Years)and Regions – Forecast to 2022-2032.

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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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Digital Travel Market is Expected to Expand to US$ 1,618 Bn by 2032 | FMI

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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Heritage Railways Trains Market to Achieve A High 8% CAGR During Forecast Period -2032

The Heritage Railways Trains Market is projected to reach a valuation of US$ 315 Billion in 2022. Sales are projected to increase at an 8% CAGR, with the market size reaching US$ 680 Billion by 2032.

A heritage railway, often known as a heritage railroad, is a railroad that operates as a living history train to recreate or preserve historical railroad scenery. Old railroad tracks that have been preserved to reflect a specific era in rail transportation history are called heritage railways. Railroad that runs a line with preserved and restored locomotives, trains, and equipment while typically offering train services to tourists; in essence, an operational open-air museum.

Preservation groups started to offer to purchase up abandoned stations and tracks as they saw the potential tragedy of losing conventional railways and equipment.

Many railroad businesses were glad to get rid of unwanted goods and machinery, and some of them were also concerned about historic preservation. For instance, many railroad workers were saddened by the disappearance of historic steam engines and delighted by their preservation and continued usage on heritage lines.

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A preservation group or enthusiast owns a heritage railway, and in order to keep it operating, it might have to charge hefty admission fees. Despite the fact that train journeys are frequently brief, the rails and other railroad equipment endure significant wear and tear, requiring expensive upkeep. In order to increase the profitability of their operation, numerous for-profit businesses have acquired many heritage railway assets.

Key Takeaways from the Heritage Railways Trains Market Study:

The North America and Asia Pacific regions hold a market share of ~17% and ~25% respectively.
The Covid-19 pandemic had an 80% impact on the value of the Heritage Railways Trains Market.
Argentina, Brazil, Canada, Czech Republic, Finland, France, Germany, India, United Kingdom, and the United States of America are some of the most popular destinations for railway tourism.
Luxury Trains are the most popular Train types in the Heritage Railways Trains Market
Online booking channels lead the charts in Heritage Railways Trains Market booking channel segmentation.

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“Heritage Railways offerings glimpse to old school slow life style, luxurious excursions are the main attractions tourists are seeking to escape the fast paced modern life.” – FMI Analyst said.

Impact of COVID-19

Passenger rail has been significantly impacted by the COVID-19 epidemic, which has resulted in a significant drop in traffic and will also have long-term implications. After the pandemic is gone, we can anticipate more adjustments to routines and travel, as well as the usage of new technology. Both the trains’ and the services’ designs will be unique.

A worldwide perspective is crucial given the pandemic’s global reach. Strengthening rail traffic both now and in the future will need taking lessons from others.

To thrive, railway operators and manufacturers must be innovative. This section focuses on innovative practices and technological advancements made during the pandemic to stop the virus’s spread.

Who is winning?

There are number of heritage railways around the globe taking travellers on a luxurious travel trip. The top businesses are able to maintain their competitive advantage in the industry by offering all-inclusive packages and saving tourists from having to navigate multiple channels for their trips. In addition to boosting the market, government investments and initiatives have helped firms improve the services they offer.

The key players in the Heritage Railways Trains Market are Avon Valley Railway, Bideford Railway Heritage Center, Helston Railway, Calcutta Tramways Company, Palace on Wheels and among others.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the Heritage Railways Trains Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032.

The study divulges compelling insights on the Heritage Railways Trains Market based on Train Type (Toy Train, Steam Train, Luxury Train, Tram Trains), By Booking Channel (Online Travel Agents, Traditional Agents, and Direct Booking), By Tourist Type (Domestic and International), By Tour Type (Independent traveller, Package traveller, and Tour Group), By Consumer Orientation (Men and Women), By Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, and 66- 75 Years) & Region – Forecast to 2017 – 2032.

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Lake Vacation Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2032

The Lake Vacations Market is estimated at US$205.05 Million in 2022 and is projected to reach US$ 245.0 Million by 2032, at a CAGR of 12% from 2022 to 2032.

Global nature fund (GNF), the Senate Administration for Justice in Berlin has registered GNF, a non-profit, private, autonomous international foundation for the preservation of the environment and nature. The development of Lake Tourism is supported by the tourism and leisure sectors. It promotes social development and job creation within the region. It keeps millions of jobs in the hotel industry alive.

Key Takeaways:

The North America and Asia Pacific regions hold a market share of ~29% and ~26% respectively.
The Covid-19 pandemic had a 0.55% impact on the value of the Lake Vacation Market.
Online booking channels lead the charts in Lake tourism market booking channel segmentation.
S, Australia, UK, Italy are some of the most popular destinations for Lake Vacation Market.
Promoting domestic tourism and supporting safe returns of international tourism.
The U.S. is home to hundreds of remarkable lakes both big and small.

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Impact of COVID-19 on the Lake Vacation Market

As the COVID-19-affected economies continue to spin out of control, governments and companies will place a high focus on protecting their populations. But in order to address the effects of the stock market decline on worldwide revenue and stock prices, governments and corporations will need to move rapidly.

The COVID-19 outages have had an effect on almost every region of the world, and the tourism industry has been among those most severely affected. The travel restrictions were implemented, and they directly affected hotel workers as well. The hospitality and leisure sectors are likewise working assiduously to comprehend and quantify the operational and financial repercussions for their businesses while responding quickly and keeping their attention on the task at hand and take decisions to close hotels, restaurants, and other public places.

Who is winning?

Hotels close to lakes also provide calming massages, yoga, tai chi, and meditation. Every year, thousands of tourists take advantage of the numerous amenities offered by lake hotels, which supports a booming global lake vacation sector and keeps hotels competitive by providing all-inclusive packages and sparing travellers the bother of navigating several channels for their trips. Investments and government initiatives are stimulating the market and assisting businesses in providing better services.

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Leading players operating in the Lake Vacation Market are TourTravelWorld.Com, Central Holidays, EnLive Trips, Hello Travel, Eastmytrip.com, Expedia, Inc., Viha Vacations.com, Tripnetra.

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Future Market Insights, in its new offering, provides an unbiased analysis of the global Lake Vacation market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Lake Vacation market based on Accommodation type (Hotels, Home, Apartments, Resorts/ Condominium, others), booking channel (phone booking, online booking & in person booking), tourist type (domestic & international), tour type (independent traveller, tour group & package traveller), consumer orientation (men & women), age group (15-25 years, 26-35 years, 36-45 years, 46-55 years, 66-75 years), across seven major regions.

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Travel & Tourism User Generated Content Market is Expected to Reach at a US$ 744.38 Mn by 2032

The Travel & Tourism User Generated Content Market is poised to reach a valuation of US$ 184 Million in 2022. Sales are projected to increase at a 15% CAGR, with the market size reaching US$ 744.38 Million by 2032.

User-generated content (UGC), is any type of content that users have uploaded to online spaces like social media, forums, and wikis. Examples include photographs, videos, text, and audio.

It’s a product that users make to share information on online goods or the companies who sell them. Applications for user-generated material are numerous and include issue solving, news, entertainment, customer interaction, advertising, rumors, research, and many more. It serves as an illustration of how traditional media hierarchies are flattening and content generation becoming more democratic.

By 2020, businesses will be using user-generated content more and more to market their goods because it is considered as a genuine and affordable approach to boost a brand’s reputation and sales.

The Internet offers an easy platform to develop and disseminate user-generated content because of new media and technology affordances, such as low cost and low barriers to entry, which allows the transmission of information at a quick rate in the wake of an event.

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Tourism organizations cannot afford to ignore the growth of user created content, and online communities. In contrast to being irrelevant, blogs are frequently seen as more legitimate and trustworthy than conventional marketing communications. Customers trust websites with reviews more than professional guides and travel firms.

However, there is a problem: given the enormous number of potentially appropriate travel blogs, finding, extracting, and interpreting blog content has so far proven to be time-consuming, draining, and expensive, offsetting the relative worth of the information acquired. A blog visualization system or the application of artificial intelligence and “opinion mining” could be a solution.

Key Takeaways from the Travel & Tourism User Generated Content Market Study:

Marketing companies are largely engaged in promoting usage of user generated content for travel industry.
The Covid-19 pandemic had an 80% impact on the value of the Travel & Tourism User Generated Content Market.
Social media, Blogs, Video sharing services are the most popular Platform types in the Travel & Tourism User Generated Content Market.
Online booking channels lead the charts in Travel & Tourism User Generated Content Market booking channel segmentation.

“User generated content has given businesses good prospects by enabling them to increase their market share with little effort and expense.” – FMI Analyst said.

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Impact of COVID-19

The amount of time spent exploring across social media platforms has significantly increased as a result of the rigorous lockdown limitations. Companies and governmental entities must both invest in multi-channel interaction in order to achieve the best results. The most popular platforms are Instagram, Facebook, and YouTube, but TikTok certainly has unrealized commercial potential.

User generated content provides a raw, first-person account of a company and is likely to be heavily consulted when making future travel arrangements. This suggests further that managing one’s internet reputation will be crucial in the fight against consumer unease in the wake of the pandemic. Consumers feel exposed globally and will continue to do so.

Because they are aware that their lives are about to change drastically, they feel less comfortable and in control than ever before. Additionally, their method of making purchases will. They must provide them better, safer, and more seamless interactions and experiences, just like hospitality or a travel company.

Who is winning?

The top players are able to maintain their competitive advantage in the industry by offering all-inclusive packages and saving travellers from the hassle of browsing many channels for their trips.

The market is being stimulated by government investments and efforts, which have also helped enterprises improve the services they offer. The pandemic has significantly increased the use of online multimedia as well as the production and proliferation of informational content across numerous channels (social media networks, blogs, whitepapers, etc.).

The key players in the Travel & Tourism User Generated Content Market Are Travel Technology & Solutions, Amara Marketing and among others

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the Travel & Tourism User Generated Content Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022 to 2032.

The study divulges compelling insights on the Travel & Tourism User Generated Content Market based on Platform Type (Social media, Blogs, Video sharing services), By Type of content (Photos, Videos, Blogs, Infomercials) By Booking Channel (Online Travel Agents, Traditional Agents, and Direct Booking), By Tourist Type (Domestic and International), By Tour Type (Independent Traveller, Package Traveller, and Tour Group), By Consumer Orientation (Men and Women), By Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, and 66- 75 Years) & Region – Forecast to 2017 – 2032.

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Italy Faith Based Tourism Market is Estimated to be Valued at US$ 72 Mn in 2022

The Italy faith based tourism market size is set to be valued at US$ 72 Mn in 2022. It is projected to exhibit growth at a CAGR of 9.8% from 2022 to 2032.

Italy is known for its incredibly rich and diverse religious tourism industry. Spiritual experiences are one attraction that appeals to both believers and non-believers. They frequently seek out meaningful encounters and value the opportunity to share religious and spiritual encounters with other like-minded visitors.

Due to its unrivalled cultural history, which includes museums, theatres, archaeological sites, historical towns, industrial sites, music, and food, Italy is a well-known cultural tourist destination.

Key Takeaways: Italy Faith Based Tourism Market

The Italy faith based tourism market exhibited growth at a CAGR of 5% in the historical period from 2017 to 2021.
By tourist type, the international segment is anticipated to grow at a CAGR of 0% throughout the forecast period.
In terms of booking channel, the online booking segment is likely to showcase growth at a CAGR of 0% during the forecast period (2022-2032).
Based on tour type, the package travelers segment is set to dominate the market by generating the highest share.
By age group, the 36-45 years segment is estimated to lead the Italy faith based tourism market by accounting for the lion’s share.

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“Pilgrimages and visits to the Marian shrine have increased significantly in recent years in Italy. Increasing number of new religious attractions, including religious-themed festivals and activities, is expected to boost the market,” says a FMI Analyst.

Competitive Landscape: Italy Faith Based Tourism Market

Leading faith-based tourism firms in Italy are focusing on adopting various promotional strategies to attract more customers. They are also promoting well-known spiritual tourist attractions across Italy through social media platforms.

Major players present in the Italy faith based tourism market are Italy Travel Company, Hello Florence Tours Travel Srl, Venice Italy Travel, Luxury Rome Tour, Smart Trip, Show Me Italy, Real Italy Travel, LivTours, Argiletum, Italy Customized Srl, Miles&Miles Tours of Rome and Italy, Milan Visitor Center- Zani Viaggi, Michelangelo International Travel, Caf Tour & Travel, Cedars Travel, Through Eternity Tours, and Rome Travels among others.

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The travel & tourism team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the travel & tourism industry, the team is happy to help with every business intelligence research and consulting requirement.

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Italy Culinary Tourism Market Outlook by Category

By Activity Type:

Culinary Trials
Cooking Classes
Restaurants
Food Festivals
Others

By Booking Channel:

Phone Booking
Online Booking
In-Person Booking

By Tourist Type:

Domestic
International

By Tour Type:

Independent Traveller
Package Traveller
Tour Group

By Consumer Orientation:

Men
Women
Children

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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Philippines Tourism Market – Business Opportunities and Global Forecast to 2032

The global Philippines Tourism Market is anticipated to reach a valuation of US$ 10.8 Bn in 2022. Sales are projected to grow at 10.9% CAGR, with the market size reaching US $30.4 Bn by 2032.

There are several opportunities to explore natural wilderness in the Philippines. The Sierra Madre in Luzon and the Balbalasang-Balbalan National Park in Kalinga, for instance, are both rarely visited by tourists but provide thrilling trekking through dense rainforests and across dizzying peaks.

There are some spectacular volcano climbs in Bicol (Mount Mayon and Mount Isarog, for example), and dozens of national parks, heritage sites, wildlife reserves, and volcanoes in Mindoro, Palawan, and the Visayas. Mount Kanlaon, an active volcano in Negros, is one of the country’s most challenging climbs, while the neighboring Northern Negros Forest Reserve is a raw, mesmerizing scene of peaks, waterfalls, and fumaroles typical of the archipelago’s wilderness locations.

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The conversion of airport terminals into global gateways has aided in the international tourism development of the country, with about 95–99% of visitors arriving by air. In recent years, the airports in Davao City and Iloilo City have been modernised, allowing direct charter flights from Singapore.

Meanwhile, Mactan-Cebu Airport, which has long handled both scheduled and charter flights from throughout East Asia, was set to begin long-haul flights in 2016, when three Philippine airlines were operating between Cebu and Los Angeles, California. Started walking. In the near future, there will be more direct international flights to Cebu, Boracay and Davao.

In addition, the country’s hospitality sector is increasingly focusing on the contactless payment trend. When contactless payments are allowed, customers save time by not having to sort through cash or try to enter their PIN.

The introduction of mobile payments has also made a wallet obsolete. The coronavirus outbreak has fueled the demand for contactless payments that reduce friction and improve customer experience. Offering contactless payment methods by many customers and employees may be perceived as a necessity rather than a luxury. As a result of the outbreak of COVID-19, many in the Philippine hospitality business have begun to employ contactless payment systems.

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key takeaways:

On the basis of tourism type, the eco/sustainable tourism segment is estimated to account for 42% of the total market share in 2022.
From channel booking, the online booking segment is estimated to account for 51% of the total market share.
On the basis of tourist type, the domestic tourism segment will remain attractive till 2032.
In terms of age group, the 26-35 segment will continue to witness an uptick in sales.

Competition Scenario

The major players in Philippines tourism are focusing on promotional strategies and advertising of popular tourist destinations in the Philippines to improve sales in the market.

The major players present in the Philippines tourism market are Scorpio Travel & Tours Inc., Baron Travels, AsiaVenture Tours & Travels, Vansol Travel & Tours, Kapva Travel, Marksman Drysdale Travel Inc., Raja Tours Philippines, Atlas Tours & Travels Inc., Bridgeway. Travel & Tours, Harana Tours Corporation, Travel Related Incentive Programs & Services, Inc., TravelBest Travel & Tours, Ruxo Air Travel & Tours Inc., Goldensky Travel & Tours, Grandhope Travel Tours, Kesari Tours Pvt Ltd, Turismo-Filipino Inc. among others.

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Philippines Tourism Market by Category

By Tourism Type:

Cultural & Heritage Tourism
Medical Tourism
Eco/Sustainable Tourism
Sports Tourism
Wellness Tourism
Others

By Booking Channel:

Phone Booking
Online Booking
In Person Booking

By Tourist Type:

Domestic
International

By Age Group:

15-25 Years
26-35 Years
36-45 Years
46-55 Years
66-75 Years

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Bleisure Tourism Market 2022 – Future Plans and Industry Growth with Quantitative And Qualitative Analysis

The bleisure tourism market is expected to reach a valuation of US$ 497.5 Bn in 2022, with sales growing at an impressive 19.5% CAGR over the assessment period.

Employee engagement is a critical aspect in various organizations and leaders are looking for new ways to keep their employees happy and loyal to their company. One way to improve employee satisfaction is to improve corporate travel policies by including bleisure trips.

Furthermore, employees who use their vacation time to rest and recharge are more productive. According to a Forbes article, if employees took just one more day of paid leave each year, the U.S. economy would gain $73 billion in output, which will be beneficial for both employees and businesses. A bleisure trip can have a significant impact on employee morale and health, which in turn is encouraging companies to invest bleisure tourism.

Increased digitization of the tourism and corporate sectors, as well as increased adoption of the internet of things (IoT), which allows both travellers and travel operators to manage operations remotely, are predicted to boost market sales.

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Besides this, the benefits offered by virtual reality (VR) technology, such as efficient and personalised customer experiences in the tourism sector will create opportunities for growth in the market.

Further, bleisure tourism market players are investing in various promotional activities such as direct marketing, sales, and discounts, offering free giveaways, hosting an event, and many other activities to promote their services.

As most potential customers have an online presence, hotels and resorts are promoting their services on social media platforms to improve sales. For instance, Bermuda launched “Work from Bermuda,” a certificate programme that invites visitors to work remotely from a scenic location.

Moreover, business travellers take their families with them on business trips. Taking cues from this trend, a world-famous hotel in Scotland has launched a children’s programme that includes a playroom, a country club, and participation in sporting activities. Such development will create a conducive environment for the market.

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“A combination of work and leisure or personal activities contributes to a better work/life balance. Bleisure trips are offering opportunities for travellers to learn more about the location and its culture. This, in turn, is helping to improve the quality of work done while also allowing for the formation of more meaningful business relationships. ” says an FMI analyst.

Key Takeaways:

Based on application, the corporate segment will account for a dominant share in the market over the forecast period.
By trip type, demand in the domestic trip segment will remain high through 2032.
In terms of tour type, the independent travelers segment will expand at a considerable pace over the assessment period.
Based on consumer orientation, sales in the male segment will continue gaining momentum.
By occupation, bleisure tourism among technology/IT/software professionals will gain traction.
Based on trip length, the 2 nights segment will emerge as the most lucrative segment.
By travel frequency, demand in the once in every 2-3 months segment will continue rising.
In terms of booking channel, the online booking segment will lead the market in terms of market share.
The U.S. will continue dominating the north America bleisure tourism market owing to growing focus on employee retention across various organizations.
China will continue witnessing high demand, accounting for a dominant share in the East Asia bleisure tourism market.
Sales in India will gain momentum on the back of increasing investments in the travel and tourism sector.

Impact of COVID-19 on the Market

The COVID-19 outbreak has negatively impacted the bleisure tourism market. Almost all major business tours and MICE events around the world were cancelled because of the pandemic. Furthermore, due to travel restrictions, the widespread adoption of online video conferencing platforms such as Zoom and Google Meet is expected to compete with players operating in the global bleisure tourism market in the future.

Many firms are using video conferencing systems to satisfy their meeting and conference demands, and it is also being used as a cost-cutting technique to avoid pricey business trip expenses. COVID-19 has thereby changed the competitive landscape of the global leisure tourism business, with long-term implications.

Who is winning?

The players operating in the global business travel industry have adopted various developmental strategies to expand their market share, exploit the business travel market opportunities, and increase profitability in the market.

Major players present in the bleisure tourism market are Airbnb. Inc, American Express Travel, Expedia Inc., BCD Travel, Carlson Wagonlit Travel, Flight Centre Travel Group, The Priceline Group, Fareportal, Inc. (travelong inc.), Wexas Travel, Travel Leaders, The Global Work & Travel Co., JTB Business Travel, Prime Travels USA, GUNA Travel Germany, DER Touristik, CITS (China Business Travel & Fairs), China Tour Guide, Tuniu Corporation, FROSCH Travel and CT Business Travel

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Global Bleisure Tourism Market by Category

By Application: