Market Trends

🍜 Georgian cuisine from the former Soviet republic is gaining attention in the U.S., distinguished by local meats, cheeses, fresh produce, nuts, spices, and ancient winemaking traditions. Influences span across Ottomans to Russians due to the historic "Silk Road." Notable dishes include satsivi, pkhali, kharcho, nigvziani badrijani, khachapuri, khinkali, and churchkhela. Georgia's population is around 3.7 million, with its food scene expanding notably since 2016 in cities like North Miami Beach, Fla., and Chicago, where restaurants like Kavkaz and Chicago Diplomat Cafe thrive on word-of-mouth and social media promotion. Supra and Tabla in Washington, D.C., offer traditional and contemporary Georgian dishes, emphasizing the cultural "supra" experience of togetherness and hospitality.

Tourism can simultaneously contribute to economic recovery, as seen in Iceland, and lead to the destruction of local communities and environments, contributing to global warming. McClanahan's "The New Tourist" discusses the dual impact of tourism, highlighting the balance between its benefits and the damage from over-tourism exacerbated by social media and climate change.

Shiji collaborated with Techtalk.travel and Hotelschool The Hague to create a chart mapping out the history of travel technology, focusing on significant educational and association events, global tech developments, and hotel industry-specific technology. The research highlights that the hotel industry often adopts consumer-level technology before it becomes widely available, with a direct impact on guest experience. The article lacks specific dates, locations, or statistical information to extract, but it was published on May 24, 2021, and the content was last modified on November 10, 2021.

🏖️ On July 4, 2024, a New York Times report highlighted the economic disparity in the U.S. through summer travel trends. Wealthier Americans, buoyed by a strong stock market and rising home values, maintain travel spending despite inflation. In contrast, lower-income families face economic strain, even with a strong job market and increased wages for low-income workers. This divide is apparent as luxury hotels thrive, while budget chains anticipate declines. Summer travel showcases the widening income gap, with affluent households more likely to travel.

🛫 The International Air Transport Association (IATA) reported a 10.7% rise in global air traffic in May 2024 compared to May 2023. Capacity increased by 8.5%, with a record May load factor of 83.4%. International travel surged 14.6%, with capacity up 14.1% and load factor at 82.8%. Domestic demand grew by 4.7%, while capacity slightly rose by 0.1%, resulting in an 84.5% load factor.

Hotels are shifting to a relationship-focused model, utilizing data and mobile technology to provide personalised guest experiences. By integrating systems like PMS, CRM, and POS, and creating Single Guest Profiles, hotels can meet the evolving expectations of various demographics, ensuring tailored services and enhancing guest satisfaction and loyalty.

📈 On Jul 3, 2024, BCD Travel survey shows 60% of travel buyers report reduced corporate travel budgets, with 96% implementing cost controls. Despite cutbacks and a non-materializing recovery in 2023 due to tech layoffs and travel freezes, business travel is up. The US sees financial improvements, while Nordic markets thrive and Central Europe lags, affecting regional travel. Hotel rate hikes push companies towards economical lodging.

🏖️ TUI Group has become the preferred Tours & Activities partner for lastminute.com, including its brands Bravofly, Rumbo, Volagratis, and Weg.de, offering a platform with experiences in over 100 countries. The partnership aims to enhance holiday packages with an array of activities and ensure seamless integration with lastminute.com's existing channels like website, CRM, and SMS. The platform is already live for lastminute.com and will launch for the affiliated brands during the summer. Additional sales initiatives are being explored to boost customer experience.