WYSE Travel Confederation, in cooperation with StudentMarketing, the Confederation’s market research partner, has just released “Youth and Student Travel Market – Pricing, Industry Review No. 2” – an in-depth analysis of product pricing within youth and student travel’s six most important sectors.
The report provides a comprehensive review of comparative market pricing in 2011 within the youth and student industry’s six key sectors, as well as establishing a baseline of strategic benchmarks on which to base future year-on-year cost comparisons (pricing reports).
Data for the youth and student travel market report was gathered from more than 1,000 organizations worldwide representing the industry’s six leading sectors: language travel, higher education, work experience/exchange, volunteer travel, adventure travel, and youth travel accommodation.
Each chapter delivers a comprehensive review of the respective sector’s measured programs and products, as well as establishing price comparisons, associated costs, purchasing indexes, and delivering sector-focused comments and insight on present market conditions.
While the youth and student travel industry continues to grow in size and importance, becoming more mature and competitive, consistent documentation and available data have struggled to keep pace with this development. The aim of WYSE Travel Confederation and Student Marketing, with this report, is to shed light on this still under-reported industry and to provide a useful benchmark at a time of exciting market growth and development.
Significant findings of this Industry Review No. 2 include:
- The prices of youth travel prograes are mostly over US $1,000;
- Educational programs are the highest revenue earners;
- English language courses are more expensive in Western Europe, 7.3 percent less in Eastern Europe, 11.8 percent less in Latin America;
- Work experience programs with governmental regulation are generally more expensive;
- Volunteer work relating to humanitarian work is currently priced slightly more affordably in Central America than in Sub-Saharan Africa;
- The average price of an adventure travel trip to Africa is US$3,412; and
- Eastern Europe maintains attractive price levels for Youth Travel Accommodation and currently offers on average 39 percent cheaper pricing than cities in Western Europe.