Despite worldwide financial problems that are currently impacting the industry, Euromonitor International Travel and Tourism Analyst Angelo Rossine predicted the “the next 5 years would look brighter.”
According to Rossine, “The long-term prospects are good for the travel and tourism industry.”
Rossine highlighted factors such as emerging countries with growing middle classes, which now have more disposable income as well as an increased desire to travel.
He added, tourists from developed countries will still continue to travel, but they will just seek out cheaper alternatives in the future.
“It is very hard for people to give up travelling, so they will look for cheaper options such as short breaks or low-cost holidays,” he said.
Reed Travel Exhibitions Chairman WTM Fiona Jeffery said: “The travel industry needs to take a long-term approach. The emerging economies offer a lot of opportunities, while there are still opportunities in the mature tourism countries; they just need to be tailored to the trends and circumstances.”
One consistent criticism of the travel industry has been its technology, which many consider outdated.
Amadeus Italia Marketing Director Tommaso Vincenzetti said the technology the industry uses gives it the appearance of being outdated. “Technology should bring advantages for us in our working lives as it does in our private lives,” he said, “The industry works in a way which is way behind what people are used to.”
The May event was the second annual WTM conference in Italy. It was the final event in the series that included visits to Moscow, London, Dubai and Shanghai.
“The WTM Vision Conference series has been extremely well supported with packed conference rooms at all of the events,” Jeffery added, “This support demonstrates there is a need for the high-level research, information, and opinion that WTM Vision provides the industry senior leaders to help them run their businesses.”
