Marketing Forecast from Ad-ology

Recently, the Global Business Travel Association (GBTA) reported that business travel will grow 4.3% in 2012 and reach $260.9 billion. The U.S. Travel Association is expecting a slightly smaller increase of about 3.3% which they attribute to general anxiety over the economy and the upcoming election. But, both of these forecasts are good news for the lodging industry which is recovering from a steep slide that took place during the recovery. In addition, lodging operators are expected to employ the latest marketing techniques to get ahead of the competition.

Business travel will maintain its upward trajectory in 2012, but a stagnant U.S. economy is driving increasing corporate uncertainty and leading to projections of slower U.S. business travel spending growth next year, according to a new research from the Global Business Travel Association (GBTA). GBTA forecasts a 4.3% growth in business travel spending for 2012 (or $260.9 billion).

Ad-ology Research recently updated their Industry Marketing Insights report for Bus and Other Transit Systems. The following are the predicted Top 3 Opportunities/Challenges from the report for this industry for the upcoming 12 months:

Travel marketers may be ramping up their promotions as the holiday season approaches. Consumers belonging to one specific demographic group, the affluent, are more interested in travel and experiences than traditional gifts. These consumers are also planning to travel more during the upcoming season to visit family members.

The economy may be straining household budgets, but there is still a group of consumers determined to travel. While these travelers are becoming ‘resourceful’ in planning their trips, marketers can connect with them and tap their loyalty through several media channels. For the most part, the definition of value is not linked to price, a trend that is good news for travel operators.

When consumers are looking for the best hotels or airfares these days, they mostly turn to their computers. Travel marketers have noticed. So far this year, spending on the travel category has increased by 10% and it shows no signs of slowing down. But it’s the digital component of travel marketing spending that’s really changing.