A new report by IHG and The Futures Company, identifies the trends set to shape the next 10 years of travel and the new categories of traveller that are emerging.
Bringing together recent research compiled by The Futures Company and insight from IHG, “The new kinship economy: from travel experiences to travel relationships” identifies groups including ‘new global explorers’ - travellers from high-growth countries such as China and India.
They follow well-trodden paths, want to visit all the must-see sights and are high-spenders –the report highlights that Asian travellers alone will account for one third of the world’s travel spend by 2020.
The report also cites the likely increase in city breaks to as yet ‘unknown’ cities that few people have yet heard of, or cities that haven’t even been built. Some 400 largely unknown midsize cities in emerging markets – predominantly China and India – will generate 40% of global economic growth over the next decade and beyond.
Richard Solomons, IHG Chief Executive comments:
“This report shows how the world of travel is constantly evolving and identifies the trends that are set to influence the industry over the next ten years."
“IHG is well-placed in the world’s developing markets. As new destinations and groups of traveller emerge we will ensure we are meeting the changing needs of those at the heart of our business – our guests.”
50% of the hotels IHG plans to develop in the future now come from emerging markets such as Greater China. IHG has more than 50,000 rooms under development in this region– more than any competitor.
IHG is seeing some of its strongest growth in secondary and tertiary cities that aren’t yet on the hot lists of the world’s travelling population such as Chengdu, Hainan, Xian and Nanjing in China, and Bangalore, Chennai and Hyderabad in India.
IHG has recently announced a deal to build 13 hotels in India, creating over 2,600 jobs.
As other infrastructure in these new cities is planned and built, such as transport links, shops, hospitals and schools so too are IHG’s hotels – forming part of the fabric of the area from the outset.
Other emerging categories of travellers identified in the report include:
In China, IHG has responded to the need for a bespoke, customised service among travellers by launching a new international hotel brand catering specifically for the needs of Chinese travellers, HUALUXE Hotels & Resorts.
Download The new kinship economy: From travel experiences to travel relationships Report PDF (3.54Mb)
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