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SINGAPORE, Sept. 11, 2013 /PRNewswire/ -- TripAdvisor™, the world's largest travel site, today announced the results of the world's largest traveller and accommodation survey -- the TripBarometer by TripAdvisor. The survey reveals the leading travel and hospitality industry trends, according to over 19,000 travellers and over 10,000 accommodation business owners around the world. The study is conducted twice a year, and the results are analysed independently by research firm Edelman Berland.
Lewis Ng, Commercial Director APAC, TripAdvisor for Business, says: "The key findings of TripBarometer have provided a unique and fascinating insight into the current state of global travel. With consumers around the world happy to make sacrifices in pursuit of a break, hospitality businesses are poised to benefit from this trend. With plans to increase their travel budget and the number of holidays they take, Asian consumers will remain an important driver for global travel demand in the coming year."
Sacrifices help make trips possible
Asian consumers believe that holidays are too important to spend less on and view them as a reward that they and their families deserve. The study shows that consumers from Asia are most willing in the world to make sacrifices in other areas in order to ensure they go on a holiday. Eighty-six per cent of Asians have indicated that they are happy to cut back on other areas in order to save up for a trip.
| Factor | Percentage of respondents who will make sacrifices on the factor in order to save money for travel |
| Nights out | 41% |
| Meals out | 37% |
| Shopping (Clothes, etc.) | 37% |
| Cigarettes | 25% |
| Groceries | 18% |
Travellers in emerging markets to spend more
The study shows that less than half (41%) of Asian consumers are optimistic about the economy in 2014, compared to a third of global travellers (32%). It also reveals that travellers in emerging markets are more likely to loosen their purse strings with 42% of travellers from Asia planning to increase their travel budget in the coming year.
| Region | Percentage of respondents who plan to spend more on travel in 2014 |
| Africa | 59% |
| South America | 48% |
| Central America | 47% |
| Middle East | 46% |
| Asia | 42% |
| Australasia | 38% |
| Europe | 36% |
| North America | 35% |
Asian domestic and intraregional travel remain steady
With 85% of global travellers planning to travel in their own country in 2014, domestic travel looks to remain dominant. According to Asian respondents, the main reason for domestic travel is to discover their own country.
| Reason | Percentage of respondents giving the reason as to why they plan to travel in their home market this year |
| Discover their own country | 42% |
| Save money | 31% |
| Save time | 23% |
Intraregional travel will likely remain a top priority for Asian consumers in both the near and long-term with 65% of them planning to travel within their region in the next six months and 36% with similar plans in the next 2 years.
The study shows that Asian consumers are planning more trips in 2014, with plans for short vacations up 19% and those for long vacations up 8%.
Long-distance travel remains a pipe dream for now
While consumers in Asia show a strong preference for travelling within their region in the near-term, Europe is the dream destination for many with 33% of travellers globally citing it as their top choice for holiday in 2015. In line with those findings, 27% of Asian travellers are planning a trip to Europe in the next two years.
This decrease in intraregional travel by the Asian consumers will be offset by an increase in guests from abroad. A number of Asian hoteliers have already noted an increase in the number of guests from Europe and the Middle East and around half of the North American consumers surveyed have indicated they plan to travel to Asia in the coming year.
Hoteliers optimistic about future profitability
Asian hoteliers are amongst the most optimistic in the world with 74% of them feeling positive about their business' profitability in the year ahead -- higher than the global average of 67%.
| Region | Percentage of hoteliers worldwide who feel optimistic about making a profit in 2014 |
| Central America | 79% |
| North America | 74% |
| Asia | 74% |
| South America | 72% |
| Middle East | 72% |
| Africa | 70% |
| Australasia | 67% |
| Europe | 56% |
Consistent with the high levels of business optimism, 58% of Asian hoteliers are planning to raise room rates in 2014, compared to 51% of global hoteliers. Key reasons behind the price hikes, according to Asian hoteliers, are to cope with increased overheads (54%) and increased demand (38%).
Fueled by steady intraregional travel, as well as an increase in international guests, a third of Asian hoteliers (34%) are planning to open new properties in the coming year -- twice the global average of 17%. Of those who are planning to open new properties, majority (86%) said they would be opening them within Asia.
The study also shows that Asian hoteliers are looking to invest in their existing properties to attract more guests through the door. Over half (54%) of Asian hoteliers polled are planning to spend more on marketing and advertising in 2014, 52% in staff training and 51% in small scale renovations.
For the full TripBarometer report and infographic, please visit: http://www.tripadvisor.com/TripAdvisorInsights/tripbarometer-global.
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