The travel industry has to adapt to the impulse oriented purchase behaviour of tourist products. Interaction and connection with tourists in different stages of the guest journey is the key to success, Frank Oostdam argues at this years ITB Future Day.
The travel industry has to adapt their products to the impulse oriented purchase behaviour of tourists. Interaction and connection with tourists in different stages of the guest journey is the key to success, Frank Oostdam argues at this years ITB Future Day.
This year the ITB convention celebrates its 10th year anniversary. The ITB is the largest tourism convention worldwide, topics and keynotes focus on relevant market trends and innovations in global tourism.
Day one of this years convention is all about the future of the industry. Prof. Burda of the Humboldt-University in Berlin presented three possible scenarios for Europe in 2023. According to Burda the macroeconomic stability is essential for a thriving tourism business. 'There are no simple solutions and most are painful.'
In the 'good' scenario the Euro will still exist and become a strong currency competing with the US dollar. The EU remains the largest internal market in the world, the EU zone is divided in five districts and Greece persues a tight fiscal policy. The 'bad' scenario foresees Greece, Portugal, Italy and Spain to return to their national currency. Especially tourism in the Northern European countries will suffer if this scenario becomes reality. Within the 'realistic/ugly' scenario the Euro remains in all Euro countries however, an anti-euro movement develops within Germany.
Prof. Burda concludes his speech with the following:
- A no bailout principle is the only way to save Europe;
- The Euro was introduced too widely;
- It is too late to turn back but not too late to save the Euro;
- Each member state needs to be responsible for its own fate.
Click here for the presentation of prof. Burda.
Albert Postma of the ETFI and Frank Oostdam, chairman and director of The Netherlands association of Travel Agents and Tour Operators ANVR, were invited for an interview at the ITB Future Day to talk about consumer behaviour and travel patterns in times of deleveraging and austerity. Oostdam argued that tourism is the motor for economic growth, especially Russians and Chinese spend more money on holidays. A long term trend in tourism is that tourists will travel further away but for a shorter period of time.
The purchase of a tourism product is impulse oriented, therefore cancellation regulations should be more flexible especially when it comes to packaged tours and plane tickets. The function of travel agencies are changing from transaction to interaction. 'The travel industry focuses too much on the unsexy and unemotional stages of the travel journey, however the connection with the customer is essential to influence purchasing decisions', Oostdam argues.
For more information about the ITB conference click here.