The travel and tourism industry’s longer term prospects are good, delegates were told last week at WTM Vision Conference – Florence.
Despite the global financial problems which continue to impact the industry, Euromonitor International Travel and Tourism Analyst Angelo Rossini predicted the “the next five years would look brighter”.
“The long-term prospects are good for the travel and tourism industry,” he said.
Rossini highlighting the growing middle classes in the emerging countries, which now have the money and the hunger to travel. He added tourists from developed countries would continue to travel they would just look for cheaper alternatives.
“It is very hard for people to give up travelling, so they will look for cheaper options such as short breaks or low cost holidays,” he said.
Reed Travel Exhibitions Chairman World Travel Market Fiona Jeffery said: “The travel industry needs to take a long term approach. The emerging economies offer a lot of opportunities, while there are still opportunities in the mature tourism countries they just need to be tailored to the trends and circumstances.”
Meanwhile, the industry’s technology was also criticised for being behind the times.
Amadeus Italia Marketing Director Tommaso Vincenzetti said the technology the industry uses makes it seem outdated. “Technology should bring advantages for us in our working lives as it does in our private lives,” he said. “The industry works in a way which is way behind what people are used to.”
Last week’s event was the second annual WTM Vision Conference in Italy, in association with TTG Italia, with last year’s taking place in Milan.
The WTM Vision Conference series has expanded this year, taking the number of events to five. The Florence event was the final in the series which has also travelled to Moscow, London, Dubai (at fellow Reed Travel Exhibition’s event Arabian Travel Market) and Shanghai.
“The WTM Vision Conference series has been extremely well supported with packed conference rooms at all of the events,” Jeffery added. “This support demonstrates there is a need for the high-level research, information and opinion that WTM Vision provides the industry senior leader’s to help them run their businesses.”