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Despite world events over the last decade, the travel market in general is in good shape having grown consistently over the past 5 years:
In 2004, UK consumers spent £5.6 billion more on overseas holidays than in 2000.
Despite this, key market changes driven by the growth in low-cost travel, greater internet usage and the increasing ease of DIY holidays are placing increased pressure upon the traditional operators.
Furthermore, the ability of consumers to manage their holiday time has led to a reduction in the typical summer fortnight holiday, with an increasing proportion opting for more frequent short breaks to more varied destinations, shifting the focus from purely rest and relaxation to culture and activities.
As such, the importance of service and product differentiation is increasing. With the multitude of commoditised offerings available, the need to differentiate propositions on the basis of added value is greater than ever before within the industry.
It’s a similar story for the transport industry. Whilst a rise in passenger numbers in recent years shows a positive picture, no operator in this competitive world can afford to rest on its laurels.
As such, the challenge facing the travel and transport industry is to recognise that differentiated propositions must be researched, identified and developed in order to ensure business success.
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