Key Trends in Family Travel: Analysis of family travel flows, key trends and opportunities

Key Trends in Family Travel: Analysis of family travel flows, key trends and opportunities

Summary

With hectic schedules, it has become difficult for families to spend quality time together and bond. Moreover, with growing disposable income and a maturing consumer market, families are looking for experiences rather than tangible possessions. Therefore, family travel has immense potential for travel players to offer their services and boost revenues. Globally, family outbound trips reached 300.5 million in 2017.

Family travel is a growing trend in the global tourism industry. It creates an opportunity for families with older children (even children who are adults and are working) to travel together and spend quality time with each other. Additionally, common interests in adventure activities are propelling family members to take up travel to adventurous destinations thereby adding another nuance to the trend of family travel.

Tourism players such hotels, airlines and tour operators can cater to the needs of family travelers (and ultimately boost revenue) by developing unique or curated travel packages and activities that go beyond traditional holiday expectations. For instance, luxury hotel group Shangri-La Hotels and Resorts designed an innovative program specifically for families traveling with their children to provide education on the unique culture of tourist locations in the Middle East. This program allows the luxury hotel group to create new revenue streams and capitalize on the opportunity in the near future, while also boosting sentiment among a key cohort.

"Key Trends in Family Travel", report provides in-depth analysis of the key family travel markets globally and the trends that are shaping the future of this niche. Detailed commentary is provided on who is going where and why, and how companies can tap into this to better meet their customers' needs.Key Highlights from the report include:

• Saudi Arabians’ family travel comprised 73% of their total outbound trips, followed by China (53%) and New Zealand (48%).


• Argentinian family travel accounted for only 6% of total outbound trips in 2017. Argentinians value family, but prefer to travel abroad either solo or in couples to limit household spending due to the depreciation of the Argentine peso against the major currencies such as the US dollar, Brazilian real, and the euro.


• Parents are likely to favor sun and beach (54%) holidays in the coming year, followed by visiting friends or family (34%) and city breaks (28%).

Scope

• Saudi Arabians’ family travel comprised 73% of their total outbound trips, followed by China (53%) and New Zealand (48%).


• Argentinian family travel accounted for only 6% of total outbound trips in 2017. Argentinians value family, but prefer to travel abroad either solo or in couples to limit household spending due to the depreciation of the Argentine peso against the major currencies such as the US dollar, Brazilian real, and the euro.


• According to the Author’s consumer survey, parents are likely to favor sun and beach (54%) holidays in the coming year, followed by visiting friends or family (34%) and city breaks (28%).

Reasons to buy

• Gauge which are the biggest and most promising outbound tourist markets for family travel


• Understand the demand-side dynamics within the industry to identify key trends and growth opportunities


• Direct promotional efforts on the most promising markets by learning from existing successes and our recommendations.