Tourism UK – Importance of Market Intelligence in a Challenging Environment
With the economic crisis taking a heavy toll, Summer 2009 was a trying season for many in the travel industry. The fragility of the UK economy has been commented on by several Bank of England announcements, all of which suggest another period of struggle.
One year on from the collapse of Lehman brothers and the subsequent global repercussions, the summer 2010 season appears in better shape, although there is some optimism, we should remain cautious.
Summer 2009 Tourism Winners:
Turkey and Egypt: Sharp upturn adding 100k and 87k passengers respectively
All-inclusive holidays: Up 18% for the season accounting for 22% of bookings
Mid-haul bookings through travel agents: Up 1% (revenue) on the previous year
Summer 2009 Losers:
Direct channels: Average prices down £3, representing an enormous decline of £250m
Cruises: Down -9% in line with the market
Lower-priced holidays: 1.3m passenger bookings lost for sub-£600 bands