Find it hard to keep track with all the latest insights into business trends, new products and technology advancements in the travel sector? The Blue Swan Daily provides you with an update on some of the key stories from the past week.
- Travelport makes first API-connection bookings for Qantas under NDC standard
- South Korea, Thailand, Brazil and China rapidly emerging markets for boat rental, predicted to reach a value of ~USD26 billion by 2027
- UK and US sales blunted by Brexit and political turmoil
- FASCO Travel Management China becomes GlobalStar Travel Management partner
- Global Winter Sun Index: Thailand, Philippines, Australia, Malaysia, Brazil and Argentina are the top destinations
- Tourism and leisure industry private equity deals were above trend in 3Q 2019, but down on last month’s high
Travelport makes first API-connection bookings for Qantas under NDC standard
As the next step in its continuing support for Qantas’ New Distribution Capability, including the Qantas Distribution Platform (QDP), Travelport has made its first API-connection bookings for Qantas using IATA’s New Distribution Capability (NDC) standard. The bookings are being made in a live production test environment as Qantas prepares distribution of differentiated NDC content. This is the first live production Qantas NDC booking through Trip Services, Travelport’s new API. Travelport’s agency partners taking part in the testing program, including ATPI and Maxim’s Travel have been successfully coding to the Trip Services API since early in Q3 and Q2 2019 respectively. The development is the next step in Qantas’ plans for the QDP which is dedicated to offering an improved customer experience by enhancing the airline’s retailing, booking and servicing capabilities and delivering enhanced personalised content tailored to meet a traveller’s unique needs.
South Korea, Thailand, Brazil and China rapidly emerging markets for boat rental, predicted to reach a value of ~USD26 billion by 2027
According to a new market intelligence report by Transparency Market Research, the global boat rental market is projected to reach a value of circa USD26 billion by 2027, expanding at a CAGR of around+4% during the forecast period. The report identifies that the market for boat rental is expanding significantly across all regions with Europe and North America “highly developed markets”. Countries along the Mediterranean and Caribbean seas are also identified as “key boat rental” markets, while in Asia Pacific, Japan, Australia, and New Zealand are “developed markets”. The research highlights that a rise in per capita income in most countries has prompted society to spend higher on leisure and luxury activities and a rise in the preference for cruise events and boat charters for leisure has played a significant role in the expansion of the global boat rental market. It identifies countries such as South Korea, Thailand, Brazil, and China as “rapidly emerging” markets for boat rental, due to high emphasis by governments on the development and promotion of nautical tourism in their respective countries.
See more of the report findings in the following infographic…
UK and US sales blunted by Brexit and political turmoil
A survey of 500 finance professionals across the UK and US conducted by travel booking and expense management system SalesTrip has revealed the impact of recent political developments on organisations’ sales growth and investment in travel. The research shows 40% of organisations have seen a slowing of their sales pipeline since Brexit, with a further 32% reported as remaining static. The findings show that in the run up to a potential Brexit, 62% foresee a need to cut back on company costs such as business travel. With 49% of organisations already reporting they have implemented a company-wide travel ban as a result, this company measure looks set to increase – despite 60% believing spend on travel is necessary for revenue and business growth. In the US, other political dynamics are affecting corporate travel, with 50% of organisations having seen more restrictions to their employees’ travel since President Trump came into office, and 50% reporting an increase in ‘no-go’ destinations. 43% have also seen an increase in travel-related admin and experienced more difficulties in obtaining visas for non-US citizen employees entering the US (36%).
FASCO Travel Management China becomes GlobalStar Travel Management partner
FASCO Travel Management has joined GlobalStar Travel Management as their newest partner representing China. The Shanghai-based corporate travel focused TMC is celebrating 35 years of operation having been founded in 1984 and has a client base all over China. The company has an annual turnover of over USD120 million and employs over 140 staff with more than 50% of its client base utilising its online booking platforms. With China a key strategic market for corporate travel, GlobalStar’s president and CEO Steve Hartwell describes FASCO as “an excellent fit” and praised them on having “developed a number of bespoke travel technology tools”.
Global Winter Sun Index: Thailand, Philippines, Australia, Malaysia, Brazil and Argentina are the top destinations
A newly released report by True Luxury Travel has officially revealed the best destinations for a winter sun break. The Global Winter Sun Index has ranked the best destinations based on an analysis of factors including weather, seasonality, coastline, hotel quality and more. Thailand was ranked as the best winter sun destination in the world, due to its “expansive coastline, clean waters, pleasant temperature and wide choice of luxury hotels”. The Philippines was ranked second, Australia third, Malaysia fourth, followed by the Latin American destinations of Brazil and Argentina. The top 50 ranking delivered many household travel names, but True Luxury Travel identified some alternative choices. These included Ghana, ranked 26th and described as an excellent winter sun destination choice thanks to its “high temperatures, low precipitation and its beautiful scenery which makes it a totally Instagrammable choice too”.
You can see the Top 25 in this chart from the Global Winter Sun Index…
Tourism and leisure industry private equity deals were above trend in 3Q 2019, but down on last month’s high
Total tourism and leisure industry private equity deals in 3Q 2019 worth USD7.72 billion were announced globally, according to GlobalData’s deals database. The value marked a decrease of -14.2% over the previous quarter, but are above trend with a rise of +104.7% when compared with the last four-quarter average, at just USD3.77 billion. Comparing deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth USD6.34 billion. At the country level, the United States of America (USA) topped the list in terms of deal value accounting for all the North America total. In terms of volumes, Europe emerged as the top region for tourism and leisure industry private equity deals globally, followed by North America and then Asia-Pacific.