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Page 1Disclaimer: © MyTravelResearch.com® 2018
Client:Prepared by:Date:
Trends and Disruption: Moving from Disrupted to Disruptor?
Victorian Tourism Industry Conference 2018MyTravelResearch.com
31 July 2018
Page 2
What’s wrong with this image?
This is not the future – this is NOW!Today is all about moving from the
Victorian tourism industry from being disrupted to being disrupters
Page 3
Economic
Social
Technology/Innovation
MarketingCombined and
Counter Trends
Tourism
Other
7 themes 50+ trends
Trends overview
Page 4
Let’s drill down a little...
Economic
• Uncertainty• Inequality• Emerging and
Returning markets• Cycles and Fads vs.
Trends
Social
• Generational Change• Aging Populations• Ethnic Diversity• Female Economic
Empowerment• Family Structures• Conscious Capitalism• Health and
Wellbeing• Attitudes to work• Expectation
Economy• Attention Economy• Experience Economy
Technology/ Innovation
• IoT/Wearables• AI/ Machine
Learning/ Chatbots• Robots• VR/AR• Voice• Blockchain and
Virtual Currencies
Marketing
• Ageless• Dynamic Pricing• Micromoments• Mobilegeddon• Semantic Search• Intent Marketing• The End of Shiny –
the Beginning of Shining?
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Let’s drill down a little...
Combined and Counter
• The Sharing Economy•Hyper-tech vs De-Tech• Serendipity and Hyper-
personalisation• Ephemerality•Public vs private•Post-truth and political
branding
Tourism
•Multigenerational Travel•VFR•Accessible Travel• Solo Travel•New Luxury• End to end journey•MICE•Cruising• Theme Parks•Air Travel Reinvented –
ULH/LHLCC• Experiential• Local • Infolust/Mapmania•Overtourism
Other
•Climate Change
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Feeling like this?
The purpose of today is to empower you
First up, you don’t have to use all of the trends!
We’ll just focus on a few
Sources: Bigstockphoto
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The tectonic shift: lifestage meets generational cohort
The majority of Baby Boomers are now
‘seniors’ – the first Gen Xers will join them in 3-
7 years’ time
Millennials become parents, managers and the majority of
business travellers
Centennials/Gen Z are now the Youth Market
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Whilst marketers talk a lot about Millennials let’s remember… Our markets are aging
https://www.aihw.gov.au/reports/older-people/older-australia-at-a-glance/contents/demographics-of-older-australians/australia-s-changing-age-and-gender-profile
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It’s not unique to Australia…..
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The wealth that powers the Baby Boomer Generation
25%
53%Of the AU population
Of AU wealth
http://www.traveller.com.au/how-baby-boomers-are-shaking-the-travel-industry-gx8sp0sources: McCrindle Research, Brent Green
$120bn Of annual travel spend in US
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Pictures copyright: Wikipedia. https://www.lonelyplanet.com/news/2017/07/25/elspeth-beard-travel-around-world-motorcycle/, Helen Fielding/Jonathan Cape
The Spirit that informs the boomer market
This market has disrupted everything
else over it’s lifespan –it’s going to do the same
with retirement
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Baby Boomers: Only call me senior if you are giving me a discount!
I may look like this… but my attitudeis more like this
Statistic sourced via The Futures Company
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They still love adventure – and they want INTENSE experiences
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They want to keep active – and expect to work to pay for it
This also links to our
changing attitudes to work trend
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Millennials are moving into a new life stage
From This
To This
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Millennial are growing upFamily traveller• Upper end of the cohort are having
families• They also become more value
conscious adopting a 'trading up, trading down' philosophy.
• Food in particular continues to be a driver for Millennial when they travel - and as parents they are also very conscious of nutritional choices for their families
• Spent longer than other generations in the family home, therefore attracted to multigenerational trips
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Millennial are growing upBusiness traveller
• Now entering the core business traveller market• Already account for a third of spending on
business flights. Predicted to grow to half by 2020. Expect the same will be true of spending on accommodation.
• Millennials– value authenticity and experiences even
in business travel – want LOCAL– have also been willing to pay for a
superior experience. • 60% of Millennial business travellers had paid a
premium for services:– those that improve the smoothness of
their trip – that enable them to customize the
experience to their personal needs – or that support their appetite for
technology.
• They have also grown up valuing co-operative environments. This has increasingly been reflected in their working lives.
– They want spaces to collaborate and share.
https://www.bcgperspectives.com/content/articles/transportation_travel_tourism_consumer_insight_traveling_with_millennials/https://www.bcgperspectives.com/content/articles/transportation_travel_tourism_consumer_insight_traveling_with_millennials/
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Managing Millennials
Source: RyMax Marketing Services on http://www.ehstoday.com/safety-leadership/managing-millennial-employee-infographic
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What does an Australian look like?
http://www.abs.gov.au/ausstats/[email protected]/Lookup/by%20Subject/2071.0~2016~Main%20Features~Cultural%20Diversity%20Data%20Summary~30http://www.abs.gov.au/ausstats/[email protected]/Latestproducts/3412.0Main%20Features42015-16?opendocument&tabname=Summary&prodno=3412.0&issue=2015-16&num=&view=
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What does an Australian look like?
http://www.abs.gov.au/ausstats/[email protected]/Latestproducts/3412.0Main%20Features42015-16?opendocument&tabname=Summary&prodno=3412.0&issue=2015-16&num=&view=http://www.abs.gov.au/ausstats/[email protected]/mf/2024.0http://www.abs.gov.au/ausstats/[email protected]/Lookup/by%20Subject/2071.0~2016~Main%20Features~Cultural%20Diversity%20Data%20Summary~30
In the 2016 Census, 28% of the Australian population was born
overseas, BUT
49% of the population was either born overseas or has at
least one parent who is
Close your eyes and think how many domestic
tourism campaigns reflect
this?
What are your points of
connection to these Australians?
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Changing attitudes to work
This was produced for Millennials but will increasingly be ALL our job trajectories
Source: The Futures Company, Visit Florida
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The changing nature of work – it’s here now
1/3 of new jobs in the US between 1990 and 2015 did not exist before 1990!
Pilots actively steer aircraft for just three to seven minutes of any flight, with autopilot guiding the rest of the journey
Up to 45 per cent of work activities could be automated using already-demonstrated technology
Source: McKinsey and others quoted in http://www.bca.com.au/media/the-changing-nature-of-workhttps://www.glassdoor.com/blog/jobs-that-didnt-exist-15-years-ago/
1. Social Media Manager2. Data Scientist3. Podcast Producer4. Cloud Architect5. Lyft Driver6. Content Marketer7. AI Engineer8. Virtual Assistant9. AI Chatbot Copywriter10. Employment Brand Manager
10 jobs that did not exist 15 years ago
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The rise of the gig economy
Source:McKinsey and others quoted in http://www.bca.com.au/media/the-changing-nature-of-work http://pubdocs.worldbank.org/en/816281518818814423/2019-WDR-Draft-Report.pdf
Sites like TaskRabbit and Upwork, which have created online marketplaces connecting some 4 million businesses and more than 9 million freelancers in 180 countries.
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The worlds of work and travel blend the rise of the digital nomad
https://www.nytimes.com/2017/04/03/business/digital-nomads-work-tourism.html
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The skill sets we need are changing
Source: https://www.pwc.com.au/pdf/a-smart-move-pwc-stem-report-april-2015.pdfhttp://pubdocs.worldbank.org/en/816281518818814423/2019-WDR-Draft-Report.pdf
Modelling by PwC shows that if
Australia were to target a similar
growth trajectory to compete with STEM
leaders like Germany, 126,327
Australian workers –or 1 per cent of the current workforce –would need to move
into more STEM occupations by 2035
Page 36
Experiential travel – the hot trend that’s at least 3,000 years in the making
http://www.olympia-greece.org/stadium1.htmlhttps://en.wikipedia.org/wiki/Pompeii#/media/File:Pompeii-Street.jpgwww.amazon.com https://www.heraldsun.com.au/news/victoria/hidden-gems-18-places-to-see-in-victoria/news-story/1d3a825f56f5aba8eb256ff5f1039a6b
930 BCE (ish)
776 BCE
629 CE
89 BCE
812 CE
1700-1961 CE
1975 CE
2018 CE
Whenever people have had time or resources to think beyond the short term they have sought
experiencesWhat’s changed is that we are less prepared to cut back on them when things get tough – and other industries have entered the experience economy
1999 CE
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So now experiential travel is about niching –these are just a few examples
Transgressive Tourism Ephemeral or ‘Pop up’ Tourism
Philanthrotourism
Religious Tourism
including climate change tourism!
including Halal Tourism
http://www.reliefridersinternational.com/letter_2016_09.php http://www.tourismandmore.com/tidbits/the-importance-of-the-religious-tourism-market/ , Source JWT 100 2017http://wolvesmouth.com/blog, http://www.warzonetours.com/,www.trendwatching.com
Page 38
Climate change – the big disruptor
https://www.climatecouncil.org.au/uploads/964cb874391d33dfd85ec959aa4141ff.pdf
Australia is among the top
five destinations
most vulnerable to climate
change.
Page 39
If we are a country of beaches where does that leave us?
https://www.climatecouncil.org.au/uploads/964cb874391d33dfd85ec959aa4141ff.pdf
Page 41
It’s also about visitor perceptions
https://www.climatecouncil.org.au/uploads/964cb874391d33dfd85ec959aa4141ff.pdf
Page 42
It’s also about visitor perceptions
Advice includes reduce flying
and travel closer to home
– this from a conservative newspaper in
one of our biggest markets
Source: Telegraph.co.uk
Page 43
It isn’t hopeless! As an industry we can both influence and mitigate this
https://publications.csiro.au/rpr/download?pid=csiro:EP128341&dsid=DS6
Page 44
The secret sauce of disruption
What’s the best predictor of disruptive innovation?
Science fiction!
Looking at trends longitudinally, we can
see it is filling Emotional Gaps – in
the right context
Page 45
What sort of disrupter do you want to be?
Are you a ‘Purple Cow’…?
An Isaac Newton…?
For most people, it’s most profitable to be an Isaac Newton, but there is no shame in being a
Stephen Bradbury
Or a Stephen Bradbury…?
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But to be any kind of disrupter you have to pull yourself out of the every day
Sources: (Rick Antonson at World Café G20 in Brisbane) www.cathedralthinking.comImage Big Stock Photohttps://www.facebook.com/bttfseries/
Cathedral thinking By going …
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Disclaimer: Please note that the information and data contained in this update has been prepared for the specific purpose of addressing the items for the research between MyTravelResearch.com Pty Ltd and Attendees at the VTIC conference
It may not be suitable for other applications. The use of this data for any other purpose should be discussed with the lead author. MyTravelResearch.com accepts no responsibility for unauthorised use of this data by a third party.
© MyTravelResearch.com® 2018
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