Dr. Maksim Godovykh, University of Central Florida
Measuring travel trends plays a crucial role in understanding the dynamics of tourism development and making informed decisions. Various sources of data and insights that can be used to analyze travel trends include visitation and spending patterns. Additionally, key surveys and reports from industry experts and organizations also provide valuable information on travel trends. Furthermore, specific sources of data related to lodging and transportation offer insights into visitation trends. The following sources offer valuable insights into domestic and international travel trends:
- Destination Analysts’ State of the Traveler studies. Destination Analysts conduct regular studies that delve into traveler behavior, sentiments, and intentions. These studies offer a comprehensive analysis of travel preferences, motivations, and spending patterns. By examining the State of the Traveler studies, industry professionals can gain insights into current and future travel trends. The studies provide valuable information on various aspects of travel, including destination preferences, travel motivations, preferred activities, and spending habits. The website for Destination Analysts provides access to these insightful studies, allowing stakeholders to gauge the pulse of the travel industry. Website: https://www.destinationanalysts.com/the-state-of-the-international-traveler-study/
- Longwoods’ Travel Sentiment Research. Longwoods conducts research studies that focus on understanding consumer sentiment and behavior related to travel. These studies shed light on traveler preferences, concerns, and intentions. The research helps measure travel trends by providing valuable information on factors influencing travel decisions, traveler expectations, and emerging trends. The insights gained from Longwoods’ Travel Sentiment Research enable industry professionals to align their strategies with the evolving needs and preferences of travelers. Website: https://longwoods-intl.com/
- WTTC Economic Impact Reports. The World Travel and Tourism Council (WTTC) publishes economic impact reports that assess the contribution of the travel and tourism sector to the global economy. These reports offer valuable data on travel spending, employment, investment, and other economic indicators. By analyzing WTTC’s Economic Impact Reports, stakeholders can measure travel trends by understanding the overall economic performance of the industry. These reports provide insights into the growth, challenges, and opportunities within the travel and tourism sector. Website: https://wttc.org/research/economic-impact
- Global City Travel by Tourism Economics. Tourism Economics provides insights into global city travel, offering data on visitor arrivals, spending, and the economic impact of tourism. Their analysis helps industry professionals understand travel trends within specific cities and their influence on the overall industry. By examining Global City Travel reports, stakeholders can gain a deeper understanding of travel patterns, spending behavior, and the economic importance of specific cities as travel destinations. Website: https://www.oxfordeconomics.com/service/subscription-services/travel-tourism/global-city-travel/
- UNWTO Tourism Barometer. The UNWTO Tourism Barometer is a valuable resource for measuring global travel trends. This publication, available on the UNWTO website, provides insightful data and analysis on international tourism. It offers information on international tourist arrivals, tourism receipts, and other key indicators, helping industry professionals assess the state of the global tourism industry. The UNWTO Tourism Barometer serves as a reliable reference for policymakers, researchers, and businesses seeking to stay informed about the latest trends and developments in the global tourism sector. Website: https://www.e-unwto.org/loi/wtobarometereng
- Air Passenger Forecasts. Air passenger forecasts provide projections on the demand for air travel, offering insights into expected growth or decline in travel volumes. These forecasts are especially important for measuring travel trends, particularly in the context of international travel. By analyzing air passenger forecasts, industry professionals can anticipate changes in travel patterns, plan for capacity adjustments, and adapt their strategies accordingly. Website: https://www.oxfordeconomics.com/service/subscription-services/travel-tourism/air-passenger-forecasts/
Custom Visitation and Lodging Forecasts: Custom visitation and lodging forecasts are tailored data obtained through research firms and consultants. These forecasts provide insights into travel patterns, visitor volumes, and accommodation demand for specific destinations. By utilizing custom visitation and lodging forecasts, stakeholders can measure travel trends at a localized level. These forecasts help in understanding the dynamics of specific markets and assist in decision-making processes related to tourism development, infrastructure planning, and marketing strategies.
Accommodation trends play a crucial role in understanding the dynamics of the travel industry. Various sources provide valuable data and insights into lodging, shedding light on different aspects of the accommodation sector. Here are some noteworthy sources:
- STR. STR is a leading provider of comprehensive data and analytics for the hotel industry. Their reports offer insights into hotel performance metrics, including occupancy rates, average daily rates, and revenue per available room. Analyzing STR data helps measure lodging trends and their correlation with overall travel patterns. Website: https://str.com/
- TravelClick. TravelClick specializes in providing data and analytics specifically for the hospitality industry. Their reports offer insights into hotel performance, pricing, and demand. By examining TravelClick data, lodging trends can be assessed, contributing to a holistic understanding of travel trends. https://www.amadeus-hospitality.com/
- KalibriLabs. KalibriLabs focuses on hotel benchmarking and performance analytics. Their data helps measure lodging trends, including revenue management, distribution channels, and customer acquisition costs. Analyzing KalibriLabs data aids in assessing the impact of lodging on travel trends. https://www.kalibrilabs.com/
- AIRDNA. AIRDNA provides data and insights specifically on the short-term rental market, which includes platforms like Airbnb. Their reports offer information on rental rates, occupancy, and booking patterns, contributing to an understanding of alternative accommodation trends. https://www.airdna.co/
- AlltheRooms. AlltheRooms aggregates data from various accommodation sources, including hotels, vacation rentals, and hostels. Their reports offer insights into accommodation availability, pricing, and booking trends, aiding in the measurement of lodging trends. https://www.alltherooms.com/
- Transparent. Transparent provides data and analytics specifically for the hotel industry, focusing on pricing, revenue management, and market intelligence. Their reports help assess lodging trends and their impact on travel patterns. https://seetransparent.com/en/
- VRBO. VRBO is a popular vacation rental platform that offers data and insights on the vacation rental market. Their reports provide information on rental performance, occupancy rates, and booking trends. Analyzing VRBO data contributes to a comprehensive understanding of lodging trends. https://www.vrbo.com/
Measuring travel trends requires access to a diverse range of data and insights. By utilizing sources such as Destination Analysts’ studies, Longwoods’ research, economic impact reports from WTTC, air passenger forecasts, and other sources mentioned, a comprehensive picture of domestic and international travel trends can be obtained. Additionally, analyzing data from lodging sources like STR, TravelClick, KalibriLabs, AIRDNA, AlltheRooms, Transparent, and VRBO helps analyze lodging trends and their correlation with overall travel patterns. Leveraging these sources enables industry stakeholders to make data-driven decisions and effectively respond to evolving travel trends.
