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Travel and Tourism Industry Business Outlook and Procurement Survey Dec 2017 - May 2018

Travel and Tourism Industry Business Outlook and Procurement Survey Dec 2017 - May 2018

  • January 2018
  • 36 pages
  • ID: 5284485
  • Format: PDF

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Travel and Tourism Industry Business Outlook and Procurement Survey Dec 2017 - May 2018

Summary
GlobalData’s "Travel and Tourism Industry Business Outlook and Procurement Survey Dec 2017 - May 2018", examines executives’ opinion on the business outlook and procurement activities over Dec 2017-May 2018, including comparative analysis of survey results with Jun-Nov 2017 (wherever applicable). It also highlights key business priorities, supplier price variations, changes in capital expenditure, and organizations’ perspective on e-procurement. In addition, this report presents the future projection of merger and acquisition activities within the travel and tourism industry over the next six months.

In comparison to the previous six months (June-Nov 2017), mergers and acquisition activity in the global travel and tourism industry is projected to increase by five percentage points over the next six months (Dec 2017-May 2018), as a result of increasing competition, economies of scale, and government policies. Even though rising competition and market uncertainty have been highlighted as major business concerns for the global travel and tourism industry over the next six months, respondents are willing to increase their focus towards improving their operational efficiency and expansion in current markets.

Furthermore, emerging economies such as China, India, and Brazil are projected to offer significant growth opportunities for the global travel and tourism industry, due to rising disposable income, favorable demographic factors, the availability of cheaper flights, and favorable government policies. On average, the global travel and tourism industry’s procurement expenditure is projected to increase by 7.2% over the next six months.

What else does this report offer?
- Key business priorities: examines travel and tourism organizations’ important priorities for Dec 2017-May 2018
- Emerging and developed markets: provides information about key emerging and developed markets, which will offer the most growth over Dec 2017-May 2018
- Change in M&A activity: analyzes travel and tourism industry executives’ opinion on changes in merger and acquisition activity globally
- Business concerns: identifies major business concerns that are likely to impact manufacturers and suppliers
- Change in capital expenditure: tracks the expected change in capital expenditure both globally and regionally
- Change in procurement activities: evaluates how procurement activities will change in the travel and tourism industry over the next six months
- Procurement budget outlook: projects procurement budget allocation along with changes in procurement objectives over Dec 2017-May 2018
- Supplier prices outlook: determines the expected change in supplier prices over Dec 2017-May 2018
- E-procurement: identifies executives’ perspective towards e-procurement implementation and deployment within the global travel and tourism industry.

Scope
- Improving operational efficiency is projected to be a key priority for the global travel and tourism industry over the next six months (Dec 2017-May 2018)
- Executives expect China to offer more growth in the six months of Dec 2017-May 2018
- Increased use of technology and internal operating cost reductions are the main procurement objectives for global travel and tourism organizations over the next six months
- Overall, 36% of executives anticipate their global procurement budget to be up to US$100,000 over the next six months
- Of industry executives, 23% state that the deployment of e-procurement within their organization is limited.

Reasons to buy
- Travel and tourism companies can realign business strategies by comparing the business priorities over the next six months (Dec 2017-May 2018) compared to the previous six months (Jun-Nov 2017)
- Organizations can develop or adjust business expansion plans by knowing the significant growth offering emerging and developed markets highlighted in the report
- Helps organizations to adjust their procurement budget by providing information about procurement budget projections anticipated by executives for Dec 2017-May 2018
- Organizations can implement effective price management by viewing supplier price variations highlighted for Dec 2017-May 2018.

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