5 ways to keep your tourism market knowledge up-to-date

Feb 20, 2024

5 ways to keep your tourism market knowledge up-to-date

Feb 20, 2024

The tourism industry is constantly evolving, and it’s important for businesses to stay up-to-date on the latest trends. The tourism industry faced significant challenges in recent years, impacting destinations and businesses heavily reliant on tourism. However, the industry has demonstrated resilience in the face of adversity. As we move forward, staying informed about the latest trends and developments in the tourism sector is essential for success. Here are five ways to stay updated on the latest trends and developments in the tourism industry.

1. Travel insights with Google

Since December 2020, Google has introduced a suite of tools aimed at helping industry stakeholders make data-informed decisions. These tools provide valuable insights for destinations, hotels, and Google’s commercial partners, enabling them to better understand travellers’ demand and tailor their marketing strategies accordingly. Travel Insights with Google features three tools for destinations, hotels, and Google’s commercial partners.

Destination insights

The first tool, Destination Insights, serves as a public resource for governments and tourism boards. It provides comprehensive information on the primary sources of demand for a destination, along with the destinations within countries that travellers are most inclined to visit. Utilising this data, destinations can strategise the potential resumption of travel on specific routes and determine effective communication strategies for engaging with prospective travellers in the future.

Hotel insights

The second public tool, Hotel Insights, compiles Google hotel search data to assist hotels, particularly small and independent ones, in refining their marketing strategies as they prepare for recovery. Additionally, it offers a resource guide to aid hotels in maximising tools such as Google My Business and Google Reviews.

Travel analytics

The third tool, Travel Analytics Center, is exclusively accessible to Google’s travel commercial partners. It allows organisations to integrate their own Google account data with comprehensive Google demand data and insights. These insights assist travel partners in managing their operations and identifying opportunities to engage potential visitors.

Image source: Google

2. Tourism trade shows

Tourism trade shows and industry events provide opportunities for tourism businesses to network, access the latest industry resources, and stay updated on news, updates, and developments within their niche sector of the travel market. These events are ideal for conducting market testing and research on new products, packages, and services. They serve as valuable components of your marketing strategy, offering increased exposure and improved brand recognition in the industry. 

Exhibiting at trade shows also facilitates networking with individuals who can assist in boosting bookings. Depending on the events attended, businesses gain access to a diverse range of industry professionals and travellers interested in booking their next trip.

3. Online tourism information sources, e-newsletters, and podcasts

Finding reliable online resources for the tourism sector can be challenging and time-consuming. Instead, why not receive a curated list of the most relevant content straight to your email inbox? Subscribing to tourism newsletters is a must for every tourism professional. Newsletters not only keep you updated on the latest news but also provide insights, travel data, and industry-defining content for tours, activities, and attractions. Examples include associations like UNWTO market intelligence webinars and Adventure Travel Trade Association, tourism portals, and online communities like Tourism Review and TravelMole.

In terms of podcasts, Tourpreneur Daily Brief’s  is curated by Shane Whaley, a veteran of the travel industry for over 20 years who also hosts the TourPreneur Podcast. Additionally, The South Asia Travel Show analyses inbound, outbound, domestic, and intra-ASEAN tourism in-depth, along with their newsletter.

4. Social media

Platforms like Instagram and LinkedIn are excellent sources of market insights and provide opportunities to connect with other professionals in the tourism industry. By joining relevant groups and participating in discussions, you can gain real-time insights into industry demand and trends. Social media also gives you a real-time look at industry demand through the travelers’ feeds from a tourist’s perspective. Viewing posts with travel-related trending hashtags on Instagram and TikTok, such as #luxurytravel, show what people most desire to do and where they want to go in 2024. Here are the top 5 travel reels hashtags that you can use for travel-related Instagram reels in 2024:

#TravelReels2024.

#Wanderlust.

#Travelgram.

#TravelDiaries.

#AdventureAwaits.

5. Knowledge sharing sessions

Building a broad network within the tourism sector, including stakeholders such as tour operators, tourism associations, airlines, and sector experts, is crucial. This network allows you to exchange useful information on market trends, developments, and expectations, analyse statistics, validate research findings, and translate information into actionable strategies.

For instance, Globally Cool organised a knowledge-sharing session commissioned by CBI for business service organisations (BSOs) involved in tourism promotion and tourism experts. Over 30 tourism experts collaborated during the session, offering valuable insights to enrich the Online Tourism Destination Toolbox.

Experience in and with emerging markets

Since 1995 Globally Cool has trained and coached thousands of professionals, in over 45 emerging markets. Want to know more about what Globally Cool can do for you? Check out our services and join us!