Report Code: A10638 | Pages: NA | Mar 2023 | 3145 Views | ||
Author(s) : Roshan D | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Group Travel Market
Request Now !The increasing demand of people in order to spend a quality time with their friends and family has given rise to group travel. One can save money and share experiences during the group travel. In order to reduce boredom during travel, people prefer group travels. It ensures more safety and enjoyment as compared to the solo travel. The increasing concern of people towards holidaying with a group of people possessing common interests is the key factor driving its market. Group travels are the occasions of get together of families and friends and they are helpful to get out of their comfort zones.Increase in the disposable income of people and the rising demands to explore new lands facilitates its growth.
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Market scope and structure analysis
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast units | Value ($US) |
Segments covered | Type,Sales channel and Region |
Regions covered |
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Companies covered | Expedia Group,Booking Holdings,CWT,Travel Leaders Group,Direct Travel,Fareportal,Frosch,Omega World Travel,Travel Edge, and ATG,Adelman Travel |
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Covid-19 Scenario Analysis:
1)The outbreak has caused the tourism industry to suffer abruptly due to regulations in mass gatherings and lockdown, thishas caused decline in the economy as major portion of a nation’s economy is due to group travel market.
2)Due to increased rates of infection in the group travels, people are avoiding solo travels also. Thus, it resulted in the reduced demands for hotel industry also and is affecting the food and beverages industry and transportation also.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The increasing preference of people towards convenience products facilitates the group travel market. Due to the hectic schedules, people get less time to spend with their closed ones.Thus,they plan group travels to explore new places and also to spend their leisure time with the people with common interests.Also, there are different catchy schemes and discounts for the people with memberships and during special occasions. Group travel has multiple benefits like reduction in boredom, sharingexperiences, saving money and safety. Although, the risk of terrorism and disasters are the restraints in its growth. But the multiple benefits prove to be the key reasons for its growth.
New product launches to flourish the market
The availability of online booking has generated eminent traction in the market. The pre booking and discount schemes are responsible for the creation of target market.Also, there are companies who provide fun games during the leisure travels.Thus, the group travel market will result in high demands in the coming years.
Surge in usage due to various facilities
The group travel market has expanded in the recent years due to the availability of convenience. The comfort and different amenities provided help to create a customer base and generate revenue.
Key Segments covered:
Segments | Sub-segments |
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Key Benefits of the Report:
Questions Answered in the group travel market Research Report:
Group Travel Market Report Highlights
Aspects | Details |
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By Type |
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By Sales Channel |
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By Region |
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Key Market Players | Expedia Group, Booking Holdings, CWT, Travel Leaders Group, Direct Travel, Fareportal, Frosch, Omega World Travel, Travel Edge, ATG, Adelman Travel |
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