Tourism Market Potential and Opportunity for ASTRA
Blog
Jan 31, 2020
A statistic shows that up to 79% of travelers choose to consult information from online sources, especially those of the previous reviews on service provider

For decades, tourism has experienced continuous growth and extensive diversification to become one of the fastest-growing economic industries in the world. This is also an opportunity for Astra to build and develop.

??? Potential of tourism market nearly 9000 billion USD

Nowadays, the development of modern tourism is closely associated with modern technology. Everyone can approach and learn about many new destinations in a completely new form.

Some recent statistics show that the tourism market is increasingly being aware and becoming the leading spearhead of the world economy:

⚡️ According to the World Travel & Tourism Council 2018, the market size of the world tourism industry in 2018 reached 8300 billion USD, accounting for about 10% of global GDP.

The market scale is continually expanding and global economic experts predict the growth of tourism will increase by about 4% per year.

⚡️ Meanwhile, travel service providers’ expenses will be $2,894 billion in 2017. Estimated expenses in 2018 will be $3,010 billion and about 35% of marketing costs (equivalent to $875 billion per year). This is the market share of tourism marketing.

? UNWTO forecasts that by 2030, the number of international tourists will reach 1.8 billion USD https://www2.unwto.org/content/why-tourism

 

                                                                Source : UNWTO

❓Why do you need travel review platforms?

? Over the past few years, this industry has grown along with the general trend of moving online. Global research shows that 71% of participants regularly update their journeys on the internet: Social networks, personal blogs …

?The World Tourism industry is witnessing the development of many other travel trends such as self-designed tours, high-end tours, adventure tours, experiential tours, leisure tourism with various modern equipment … The tendency for tourists interested in the quality of experience at the destination instead of merely an image so that tourists will stay longer if the destination has many interesting experiences and vice versa.

? A statistic shows that up to 79% of travelers choose to consult information from online sources, especially those of the previous reviews on service providers and official travel websites. Along with that, more than 77% of tourists choose to book travel based on those reviews and up to 66% continue to look for review information during the trip.

Thereby it can be seen that society is looking forward to a specialized online marketing platform for the tourism industry. Through this platform, tourists and service providers are easily connected. This is an opportunity for #AstraNetwork to build and develop.

In the following article, we will share about the challenges and potential development opportunities of Astra Network.