The outbound family travel market will grow at a Compound Annual Growth Rate (CAGR) of 4.6% from 300 million trips in 2017 to 376 million in 2022*, according toGlobalData, a leading data and analytics company.
The company’s latest report, ‘Key Trends in Family Travel’ highlights that family travel accounts for 30.8% of outbound tourism and will retain its hold through the forecast period, largely driven by the booming Chinese market.
Sara Grady, Head of Travel & Tourism for GlobalData commented: “As disposable income grows and emerging markets open their borders, we will see trends like multi-generational travel drive trips forward, particularly from hugely valuable source markets like China, and this represents a massive opportunity for the industry if it is able to tap into the specific needs of this complex cohort.”
The family travel market is characterized by increasingly sophisticated and disparate traveller demands with the industry now needing to cater to the wants and needs of many different age groups, and consumers who are more than ever, used to having tailored products and services available to them. From the provision of more transformational activities to the seamless availability of technology, all elements must be considered with greater focus.
Grady concludes: “Family travel is moving beyond the traditional sun and beach getaway to offer families some much needed time to reconnect with each other and create lasting memories, increasingly in unique destinations, or on niche holidays, from cultural trips to activity-filled adventures. It has never been so essential to offer travellers something beyond the norm to stand out from the crowd and that caters to their specific demands, irrespective of where they are from.”
- Moxy Hotels Continues Expansion in Asia Pacific with the Debut of Its First Hotel in Taiwan
- A Quintessential ‘Slow Travel Experience,’ European Waterways’ Hotel Barge Cruises Are Ready to Launch as Europe Signals Border Openings
- Copitas Takes Over Aer: Four Seasons Hotel Bengaluru Bar Team Previews New Cocktails At Four Seasons Hotel Mumbai
- Demand or Decline: Business Travel Contracting in Uncertain Times
- The 12th APG Worldconnect Brings Aviation Back Together Again At The End Of October 2021 In Monaco
- Understanding future extremes must be central to recovery plan.
- Mount Isa Mines Rodeo: The Greatest Festival on Red Dirt!
- Personal Travel Managers Celebrate Opportunity to Connect
- Hit Refresh at Sydney’s World-Class Spas
- Radisson Hotel Group Welcomes its Second Brand to Tunisia with the Opening of Radisson Hotel Sfax