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2014 Tourism Trends

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    2014 Trends inTravel & Tourism

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    About Us

    Resonance Consultancy creates strategies

    and plans that shape the future of

    destinations around the world.

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    1. Global Growth

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    1. Global Growth The IMF predicts global GDP to grow by 3.8% in 2014

    BRICs is expected to drive economic performance 2015-2017

    Americas - demand is likely to outpace supply

    Europe - arrivals and incoming receipts have started to pick up

    Middle East - shift away from Egypt, Syria and Lebanon towards the Gulf

    markets

    Africa - business tourism plus rising incomes and urbanization are driving

    domestic travel

    Asia - remains the leading global region for economic growth

    India - travel and tourism is rebounding

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    5

    2 China

    5

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    2. China In 2012, the number of outbound tourists totals 83,182,700, up 18.41%

    comparing with 2011. China Tourism Academy expects the Chinese

    outbound market to reach 94 million trips this year, up 15 percent from

    2012.

    China surpassed the U.S. and Germany in 2012 to become largest source of

    outbound travelers in the world

    New Tourism Law implemented in October is leveling the playing field

    causing a shift towards more independent travel

    Paris (#5), Rome (#11), New York (#13), London (#14) only Top 20

    Destinations outside of Asia, according to report by daodao.com (Trip

    Advisor)

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    7

    3. South America

    7

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    3. South America There has been a 12% increase in outbound trips, but growth is likely to

    slow next year

    International tourism expenditure soared 50% in 2010 and rose a further

    30% in 2011

    The US and Europe are the main destinations.

    Brazilians have proven to be high spenders

    Brazilians intending to travel more next year has declined to 29% from 42%

    one year ago.

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    4. MillennialsMore and More

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    4. More Millenials Millennials are far more interested in international travel than non-

    Millennials

    Are more interested in urban rather than resort destinations

    Millennials are more likely to travel for leisure in organized groups, with

    extended family, or with friends.

    Millennials are twice as likely as non-Millennials to use their mobile

    phones to show travel pictures to friends, share travel photos on social

    media, blog or recount travel experiences online, and post travel reviews,

    according to a survey by BCG

    8 in 10 Millennials consider online travel reviews either somewhat or

    very important. (Expedia.com)

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    5. Unstoppable `Elders

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    5. Unstoppable Elders The elders target group is estimated between 1.3 and 1.6 billion

    worldwide

    59% of 55+ U.S. affluent define retirement as a time to travel and explore

    new places, and 42% are planning international travel in the next 12-24

    months.

    Rest and relaxation, 3 - 4 days and 9 - 10 days

    Word-of-mouth information is an important source of information

    Off peak travel is favorable

    Seniors are the developed world's wealthiest and most demanding

    Tourism Security is important to senior travelers

    Seniors tend to show higher levels of frustration

    Lack of ood airline service is a ma or obstacle for senior tourism.

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    6. Millions ofMillionaires

    13

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    6. Millions of Millionaires

    The number of U.S. millionaires is projected to grow from 10.5 million in

    2011 to 20.5 million in 2020, according to Deloitte & Oxford Economics

    Top 9% of U.S. Households (HHI $150k+) account for 29% of all spending on

    air travel and lodging according to 2011 Consumer Expenditures Survey

    Despite growth in wealth in China and other Asian countries, travelers from

    U.S., Japan and Europe will continue to dominate luxury travel space

    through 2020

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    7. ConspicuousLeisure

    15

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    17/438 Gay on the Go

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    8. Gay on the Go LGBT spending on tourism will exceed US$200 billion in 2014

    LGBT tourists are choosing not to travel to unsupportive countries

    LGBT visitors are sending a message with their spending

    Welcoming destinations: Sweden, France, Spain, Belgium, UK and NewZealand

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    19

    Glocality

    9. Multi-

    GenerationalTravel

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    9. Multi-Generational 40% of families went on a multigenerational vacation in the past year.

    77% planned it around a milestone event

    Grandparents travel almost 25% more than the average leisure traveler

    Today's seniors are living longer, healthier, and more mobile lives and areeager to make up for lost time and long distances away from their beloved

    grandchildren.

    Attracting the multigenerational market is about memories, convenience

    and value

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    21

    10. Active

    Adventures

    21

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    10. Active Adventures

    Luxury travelers are seeking out ways to stay active and healthy on the road

    Growth in adventure travel has accelerated at a 65% yearly rate since 2009

    The value of the global outbound adventure travel sector was more than

    $345 billion in 2012

    Adventure travel includes two out of three criteria: nature, culture and

    physical activity

    Adventure travelers are younger

    Nearly 54% of travelers are planning an adventure activity on their next trip

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    11. Wired &

    Wireless

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    11. Wired & Wireless

    More than 40% of all online research for travel came from a mobile device

    Millennials are more likely than their older colleagues to book their

    business travel on their mobile phones (32 percent) or tablets (20 percent), a

    habit thats slow to catch on among 46- to 65-year-olds. (Expedia.com)

    Internet access the MOST important hotel amenity for affluent U.S.

    travelers

    DMOs must have a dedicated mobile site for on-site, real-time information

    Mobile apps are replacing the hotel concierge

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    12. Bleisure

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    12. Bleisure

    According to a US report published by Orbitz in 2012, 72% of business

    travelers said that they take extended executive trips that have a leisure

    component

    In North America, 54% of 18-30 year olds bring a significant other on a

    business trip, versus 36% of 31-45 and 16% of 46-65 according to a study by

    Egencia.

    27% of affluent U.S. vacation home owners use their home 2 months or

    more per year

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    13. Shopping Tourism

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    13. Shopping Tourism

    Tourists spend approximately one-third of their total tourism expenditures

    on retail purchases

    Tourism shopping includes: pre-trip shopping, add-on function of the

    attraction or destination, shopping experience, and experience local

    culture.

    There are 10 major malls under construction in the Middle East to be

    completed by 2014

    Growing middle classes in Brazil, Russia, India, and China are travelling toshop

    Historic market towns tend to attract boutique and independent shops,

    while cities tend to attract major chains.

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    14. Creative Tourism

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    14. Creative Tourism

    UNESCO defines creative tourism as travel directed toward an engaged

    and authentic experience, with participative learning in the arts, heritage,

    or special character of a place, and it provides a connection with those who

    reside in this place and create this living culture.

    The creative tourist is always a participant, someone who learns by doing,

    someone who finds enjoyment and fulfillment in developing new abilities,

    someone who wants to interact with local people. As a result, creative

    tourists get closer to the cultures of the countries they visit.

    15 Wh l

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    15. WholeLiving

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    15. Whole Living

    Whole Living is the idea of balancing work with play, indulgence with

    discipline, good living with well being and luxury with simplicity. Its the

    notion, in travel, that all aspects of the experience contribute to well-being.

    Whole Foods has launched Whole Journeys an experiential travel

    company focused on food, cooking, health, wellness and cultural travel

    experiences

    Urban Land Institute launched two year project in 2013 focused on creating

    Healthy Places

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    16. Culinary Tourism

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    16. Culinary Tourism

    One of the most dynamic and creative segments of tourism

    DMO partnerships with chefs, restaurants and food tours

    88% of destinations consider gastronomy strategic in defining their brand

    and image

    27 million culinary American leisure travelers in the last 3 years

    $12 billion spent directly on culinary activities while traveling

    American culinary tourists - cultured and affluent

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    17. Going Green ?

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    17. Going Green ?

    One of the most dynamic and creative segments of tourism

    Tourism presently accounts for 5% of global emissions approximately 4%

    from transportation (40% of those from air travel and 32% from car travel)

    and almost 1% from the accommodation sector

    Just 16% of affluent U.S. travelers rate eco-friendliness an important factor

    Visits to Beijing have dropped by roughly 50% so far this year, which many

    attribute to the citys notorious pollution

    Vancouvers Green Capital campaign target to become worlds greenestcity by 2020

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    18. Athletic Events

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    18. Athletic Events

    "Spectator sports" and "Participatory sports"

    Major events shape the future of the place

    Its about Legacy

    The sports tourism economy: arrivals, revenues, investment, employment,skills development, environmental management, identity and unity

    The target audience: amateur, collegiate, professional leagues and

    associations

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    19. OTA Power

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    19. OTA Power

    A recent study by Expedia Media Solutions found that travelers visit 38 sites

    before booking a vacation

    OTAs capture 47.2% of those web visits while DMOs receive just 6.4%

    Younger travelers are more likely to use an OTA (65% < 55 affluent U.S.

    households use OTA vs. 48% of 55+)

    New York and San Francisco DMOs recently signed agreements with

    Booking.com

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    20. DMO vs DMMO

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    20. DMO vs DMMO

    A number of DMOs have started to consider transitioning to a DMMO Creating a suitable environment:

    Planning and infrastructure

    Human resources development

    Product development

    Technology and systems development Related industries

    Procurement

    Delivery on the ground:

    Visitor quality of experience

    Product start-ups Events development and management

    Attractions development and management

    Training and education

    Business advice

    Strategy, research and development

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    For more information, please visit

    resonanceco.com

    Chris Fair

    [email protected]

    @crfair

    (646) 413-8887

    Richard Cutting-Miller

    [email protected]

    @rcuttingmiller

    (646) 233-1383