Travel and Tourism Trends and Disruptors

Disclaimer: © MyTravelResearch.com® 2018
Client
:Prepared by:
Date:
Trends and Disruption: Moving from Disrupted to Disruptor?
Victorian Tourism Industry Conference 2018
MyTravelResearch.com
31 July 2018

What’s wrong with this image?
This is not the future – this is NOW!
Today is all about moving from the
Victorian tourism industry from being
disrupted to being disrupters

Economic
Social
Technology/
Innovation
Marketing
Combined and
Counter
Trends
Tourism
Other
7 themes
50+ trends
Trends overview

Let’s drill down a little...
Economic
• Uncertainty
• Inequality
• Emerging and
Returning markets
• Cycles and Fads vs.
Trends
Social
• Generational Change
• Aging Populations
• Ethnic Diversity
• Female Economic
Empowerment
• Family Structures
• Conscious Capitalism
• Health and
Wellbeing
• Attitudes to work
• Expectation
Economy
• Attention Economy
• Experience Economy
Technology/
Innovation
• IoT/Wearables
• AI/ Machine
Learning/ Chatbots
• Robots
• VR/AR
• Voice
• Blockchain and
Virtual Currencies
Marketing
• Ageless
• Dynamic Pricing
• Micromoments
• Mobilegeddon
• Semantic Search
• Intent Marketing
• The End of Shiny –
the Beginning of
Shining?

Let’s drill down a little...
Combined and
Counter
• The Sharing Economy
• Hyper-tech vs De-Tech
• Serendipity and Hyper-
personalisation
• Ephemerality
• Public vs private
• Post-truth and political
branding
Tourism
• Multigenerational Travel
• VFR
• Accessible Travel
• Solo Travel
• New Luxury
• End to end journey
• MICE
• Cruising
• Theme Parks
• Air Travel Reinvented –
ULH/LHLCC
• Experiential
• Local
• Infolust/Mapmania
• Overtourism
Other
•Climate Change

Feeling like this?
The purpose of today is to empower you
First up, you don’t have to use all of the
trends!
We’ll just focus on a few
Sources: Bigstockphoto

The tectonic shift: lifestage meets
generational cohort
The majority of Baby
Boomers are now
‘seniors’ – the first Gen
Xers will join them in 3-
7 years’ time
Millennials become parents,
managers and the majority of
business travellers
Centennials/Gen Z are
now the Youth Market

Whilst marketers talk a lot about Millennials let’s
remember… Our markets are aging
https://www.aihw.gov.au/reports/older-people/older-australia-at-a-
glance/contents/demographics-of-older-australians/australia-s-changing-age-and-gender-profile

It’s not unique to Australia…..

The wealth that powers the Baby Boomer
Generation
25%
53%
Of the AU population
Of AU wealth
http://www.traveller.com.au/how-baby-boomers-are-shaking-the-travel-industry-gx8sp0
sources: McCrindle Research, Brent Green
$120bnOf annual travel
spend in US

Pictures copyright: Wikipedia. https://www.lonelyplanet.com/news/2017/07/25/elspeth-beard-travel-around-world-motorcycle/,
Helen Fielding/Jonathan Cape
The Spirit that informs the boomer market
This market has
disrupted everything
else over it’s lifespan –
it’s going to do the same
with retirement

Baby Boomers: Only call me senior if you are giving
me a discount!
I may look like this… but my attitude
is more like this
Statistic sourced via The Futures Company

They still love adventure – and they want
INTENSE experiences

They want to keep active – and
expect to work to pay for it
This also
links to our
changing
attitudes to
work trend

Millennials are moving into a new life stage
From This
To This

Millennial are growing up
Family traveller
• Upper end of the cohort are having
families
• They also become more value
conscious adopting a 'trading up,
trading down' philosophy.
• Food in particular continues to be a
driver for Millennial when they travel
- and as parents they are also very
conscious of nutritional choices for
their families
• Spent longer than other generations
in the family home, therefore
attracted to multigenerational trips

Millennial are growing up
Business traveller
• Now entering the core business traveller market
• Already account for a third of spending on
business flights. Predicted to grow to half by
2020. Expect the same will be true of spending
on accommodation.
• Millennials
– value authenticity and experiences even
in business travel – want LOCAL
– have also been willing to pay for a
superior experience.
• 60% of Millennial business travellers had paid a
premium for services:
– those that improve the smoothness of
their trip
– that enable them to customize the
experience to their personal needs
– or that support their appetite for
technology.
• They have also grown up valuing co-
operative environments. This has
increasingly been reflected in their
working lives.
– They want spaces to collaborate
and share.
https://www.bcgperspectives.com/content/articles/transportation_travel_tourism_consumer_insight_traveling_with_millennials/
https://www.bcgperspectives.com/content/articles/transportation_travel_tourism_consumer_insight_traveling_with_millennials/

Managing Millennials
Source: RyMax Marketing
Services on
http://www.ehstoday.com/safet
y-leadership/managing-
millennial-employee-infographic

What does an Australian look like?
http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0~2016~Main%20Features~Cultural%20Diversity%20
Data%20Summary~30
http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3412.0Main%20Features42015-
16?opendocument&tabname=Summary&prodno=3412.0&issue=2015-16&num=&view=

What does an Australian look like?
http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3412.0Main%20Features42015-
16?opendocument&tabname=Summary&prodno=3412.0&issue=2015-16&num=&view=
http://www.abs.gov.au/ausstats/abs@.nsf/mf/2024.0
http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0~2016~Main%20Features~Cultural%20Diversity%20
Data%20Summary~30
In the 2016 Census, 28% of the
Australian population was born
overseas,
BUT
49% of the population was
either born overseas or has at
least one parent who is
Close your eyes
and think how
many domestic
tourism
campaigns reflect
this?
What are your
points of
connection to
these Australians?

Changing attitudes to work
This was produced for Millennials but will increasingly be ALL our job trajectories
Source: The Futures Company, Visit Florida

The changing nature of work – it’s here now
1/3 of new jobs in the US between
1990 and 2015 did not exist before
1990!
Pilots actively steer aircraft for just
three to seven minutes of any flight,
with autopilot guiding the rest of the
journey
Up to 45 per cent of work activities
could be automated using already-
demonstrated technology
Source: McKinsey and others quoted in http://www.bca.com.au/media/the-changing-nature-of-work
https://www.glassdoor.com/blog/jobs-that-didnt-exist-15-years-ago/
1. Social Media Manager
2. Data Scientist
3. Podcast Producer
4. Cloud Architect
5. Lyft Driver
6. Content Marketer
7. AI Engineer
8. Virtual Assistant
9. AI Chatbot Copywriter
10. Employment Brand Manager
10 jobs that did not exist 15 years
ago

The rise of the gig economy
Source:
McKinsey and others quoted in http://www.bca.com.au/media/the-changing-nature-of-work
http://pubdocs.worldbank.org/en/816281518818814423/2019-WDR-Draft-Report.pdf
Sites like TaskRabbit and
Upwork, which have
created online
marketplaces
connecting some 4
million businesses and
more than 9 million
freelancers in 180
countries.

The worlds of work and travel blend the rise
of the digital nomad
https://www.nytimes.com/2017/04/03/business/digital-
nomads-work-tourism.html

The skill sets we need are changing
Source: https://www.pwc.com.au/pdf/a-smart-move-pwc-stem-report-april-2015.pdf
http://pubdocs.worldbank.org/en/816281518818814423/2019-WDR-Draft-Report.pdf
Modelling by PwC
shows that if
Australia were to
target a similar
growth trajectory to
compete with STEM
leaders like
Germany, 126,327
Australian workers –
or 1 per cent of the
current workforce –
would need to move
into more STEM
occupations by 2035

Experiential travel – the hot trend that’s at least 3,000
years in the making
http://www.olympia-greece.org/stadium1.html
https://en.wikipedia.org/wiki/Pompeii#/media/File:Pompeii-Street.jpg
www.amazon.com
https://www.heraldsun.com.au/news/victoria/hidden-gems-18-places-to-see-in-victoria/news-story/1d3a825f56f5aba8eb256ff5f1039a6b
930 BCE (ish)
776 BCE
629 CE
89 BCE
812 CE
1700-1961 CE
1975 CE
2018 CE
Whenever people have had time or resources to
think beyond the short term they have sought
experiences
What’s changed is that we are less prepared to cut
back on them when things get tough – and other
industries have entered the experience economy
1999 CE

So now experiential travel is about niching –
these are just a few examples
Transgressive Tourism Ephemeral or ‘Pop up’ Tourism
Philanthrotourism
Religious Tourism
including climate change tourism!
including Halal Tourism
http://www.reliefridersinternational.com/letter_2016_09.php http://www.tourismandmore.com/tidbits/the-importance-of-the-religious-tourism-market/, Source JWT 100 2017
http://wolvesmouth.com/blog,http://www.warzonetours.com/,
www.trendwatching.com

Climate change – the big disruptor
https://www.climatecouncil.org.au/uploads/964cb874391d33dfd85ec959aa4141ff.pdf
Australia is
among the top
five
destinations
most vulnerable
to climate
change.

If we are a country of beaches where
does that leave us?

It’s also about visitor perceptions

It’s also about visitor perceptions
Advice includes
reduce flying
and travel
closer to home
– this from a
conservative
newspaper in
one of our
biggest markets
Source: Telegraph.co.uk

It isn’t hopeless! As an industry we can both
influence and mitigate this
https://publications.csiro.au/rpr/dow
nload?pid=csiro:EP128341&dsid=DS6

The secret sauce of disruption
What’s the best predictor of disruptive innovation?
Science fiction!
Looking at trends
longitudinally, we can
see it is filling
Emotional Gaps – in
the right context

What sort of disrupter do you want to be?
Are you a
‘Purple
Cow’…?
An Isaac
Newton…?
For most people, it’s most profitable to be an
Isaac Newton, but there is no shame in being a
Stephen Bradbury
Or a Stephen
Bradbury…?

But to be any kind of disrupter you have to pull
yourself out of the every day
Sources: (Rick Antonson at World Café G20 in Brisbane)
www.cathedralthinking.com
Image Big Stock Photo
https://www.facebook.com/bttfseries/
Cathedral
thinking By going …

Disclaimer: Please note that the information and data contained in this update has been prepared for the
specific purpose of addressing the items for the research between MyTravelResearch.com Pty Ltd and
Attendees at the VTIC conference
It may not be suitable for other applications. The use of this data for any other purpose should be discussed
with the lead author. MyTravelResearch.com accepts no responsibility for unauthorised use of this data by
a third party.
© MyTravelResearch.com® 2018

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