Virtual Reality in Travel & Tourism - Thematic Research

Virtual Reality in Travel & Tourism - Thematic Research

Summary
Personalization is a theme which is growing in importance within the tourism industry; because of this, more companies are realizing the potential of Virtual Reality (VR) in terms of creating bespoke marketing campaigns for aspiring travellers, instead of viewing it as a gimmick.

This thematic research report takes an in-depth look at the theme of VR and the impact it has on the tourism industry. The report covers both positive and negative trends which the technology has created in the industry and in general. Insight into business and consumer attitudes on VR and a unique thematic analysis on the impact of the technology is provided, including recommendations for travel & tourism companies. Additionally, we highlight the tourism companies involved with utilizing VR in their operations.

“VR offers the potential to create substitute experiences that may be extremely useful for heritage and natural preservation” - Ralph Hollister - Travel & Tourism Associate Analyst, the author

Key Highlights

• The technology is currently being focused on in the pre-travel stage of the tourist journey due to the aesthetic appeal it can provide, which coincides well with marketing operations. VR also has the potential to impact the tourist’s experience post-trip, which is a stage in the tourist journey that is still relatively untouched by the impact of VR.
• Intermediaries and online travel companies are starting to explore virtual booking interfaces that can be experienced through a headset, relinquishing the need for a computer mouse or touch screen during the booking process.
• 5G will enable historic and heritage attractions to be brought back to life, and potentially create tourism surges in destinations which contain them. As mentioned previously, this updated technology offers high bandwidth, low latency and edge computing that provides complex overlays and animations that helps to bring to life historic attractions that have now become dilapidated over time or have diminished completely.
• As Gen Z becomes older and starts to occupy higher paid positions within organizations, their spending power will increase and their stronger preference for VR technology will mean that tourism organizations will have to increase VR’s involvement in their offerings, especially in the marketing process.

Scope

• This report provides an overview of the impact of VR on tourism and clearly defines the potential and pitfalls of the technology for companies looking to utilize it.
• It identifies the main trends related to the general VR theme and in tourism, classified into five categories: technology trends, macroeconomic trends, media trends, regulatory trends and tourism trends.
• This report provides detailed industry analysis. Consumer and tourism executives’ attitudes regarding VR in the industry are assessed, along with insight in to how this could impact the industry.
• The main impacts of VR on the tourism industry are outlined, along with recommendations for organizations on how to harness this technology in order to achieve operational success.
• We highlight companies involved in the utilization of VR in its operations, including IHG and Ascape

Reasons to buy

• Understand the impact of VR on the tourism industry, using key trends and examples to help you understand how you can adapt and understand this advanced form of technology.
• Assess the strategies that companies are adopting when utilizing VR.
• Discover key recommendations on how to utilize VR to achieve operational success.
• the author's thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.