Ask Your Local Travel Guru: What's New on the Travel Industry Wire?

As a travel guru for many years now, I have seen the travel industry wire adapt in so many ways. As you already know, we now live in a world with instant and infinite amounts of information, right at our fingertips. Like everything else, the travel industry has adapted, grown and cultivated a new identity with our present day world of information. Until beaches start disappearing and people can be teleported across continents, there will ALWAYS be the want and need to visit our regular and new destinations.

The travel industry plays a substantial role in the global economy. During 2015, the travel industry wire forecasts global GDP to grow by 3.7% and employment by 2.6%. This demonstrates the sector's enduring ability to generate economic growth and create jobs at a faster rate than the global economy, which is due to grow by 2.9% in 2015. By the end of 2015, the Travel & Tourism sector will contribute US$7,860 billion, 10% of global GDP, once all direct, indirect and induced impacts are taken into account. The sector will account for 284 million jobs, 9.5% of total employment, or one in eleven of all jobs on the planet. By 2025, the global travel & tourism sector is projected to contribute 357 million jobs and generate $11.4 Trillion dollars. Ask your favorite travel guru and he will show you the various components all contributing to these massive amounts. Let's check out what the travel industry wire says:

Hotel Industry

Among all the sub sectors of the travel & tourism industry, Hotels is one of the biggest fragments. The travel industry wire explains that hotels generated a global of $457 billion dollars in 2014. Your travel guru has most likely coordinated a recent trip within the Intercontinental Hotels Group. The company contributed the highest revenues, earning $22.8 billion dollars. In the United States alone, the total revenue within the hotel industry climbed to $163 billion dollars. The majority of tourists visiting the United States of America (65.1%) choose to stay in a hotel, where the average daily is a healthy $121.30.

Aviation industry

Although the major corporations, leading sector, seem to always changing names and planes, the industry cultivated a whopping $783 billion US dollars in 2014. Your travel guru may have whispered about some of the airlines not performing, but the industry continues to grow at rate of 7.4% every year. The travel industry wire indicates that Europeans, Americans, Chinese & Brazilians combine for the highest market contributors.

Cruise Industry

Cruises have steadily become a popular choice of travel the past few years. These are an easy sell for your local travel guru... The luxurious ocean liners, offering food, fun & music for the entire family have created a loyal gathering that continues to grow. Due to the growth rate of 6.55% every year, Cruise lines have postured their company growth strategies, by building larger capacity ships, ship diversification, more local ports and more destinations. The travel industry wire indicates that the average cruise traveler spends approximately $1728.00 every year, with over 22 million people jumping on the floating palace. The cruise industry contributes about $39.6 billion dollars in 2014, and is poised for a solid 6-7% increase.

Online Travel Market

Any travel guru, coupled with the travel industry wire statistics, will tell you that the online travel industry has EXPLODED over the past 5 years and will only continue to skyrocket. As more and more people use smartphones and as these smartphones continue to develop into personal super computers, the more information we have, the more we want. Online travel revenue reached $340 billion dollars back in 2011, worldwide and 39% consisted of American bookings. Obviously, the deluge of data & information has contributed to the online travel industry, but hotels and hotel broker websites have been the main proponents to this boom. As everything turns to online information, bookings, etc... the travel agencies, travel gurus and everyone associated with the industry has jumped in. Rarely do you see a corporation dependent on the travel & tourism industry, that hasn't adapted to the online market.

The Future of the Travel Industry

The travel & tourism industry is an enormous portion of the global economy and will only continue absorb market share. The travel industry wire explains that the sectors and their respective technologies are developing at a rapid rate, procuring the consumer process into a much easier-and faster encounter. Just ask your favorite travel guru.

Overseas Travel Insurance Plans - Costs Less and Offers More

Everyone craves for vacations to enjoy some quality time with their loved ones and Indians are no exception. The outbound travel sector of India saw a robust growth this year because international travel destinations are highly sought-after among Indians in 2015. Obstacles like inflation, skyrocketing ticket price and depreciation of rupee couldn't deter the wandering spirit of Indian travelers to travel around the world. Over 60% of Indians remain unmoved by the depreciating rupee and are raring to go to travel. However, the rate of availing travel insurance to safeguard the trip is still dismal among Indian travelers.

Young generations prefer to travel to international destinations once a year at least. According to a survey, 90% of these travelers make use of their own savings for overseas trips and don't consider travel cover. Quite surprisingly, this is the mindset of young internet savvy generation as ICICI Lombard conducted the survey in the age group of 25-35 among 1049 people across six metro cities in India who had international trips in the previous year.

The survey further reveals that Singapore is the most preferred travel destination among young Indian travelers; the second and third places are held by US and UK.

Let's take a look at the travel plans available and their prices for those who favor these destinations. Let's start with Singapore.

Travel insurance plans available for Singapore trips

The following list of top 5 policy quotes in terms of lowest premium are for one 30 years old person looking for a single trip to Singapore. The trip duration is 10 days and the chosen sum insured is US$ 500000.

Universal Sompo - Premium of Rs. 942

HDFC Ergo - Premium of Rs. 1015

Reliance - Premium of Rs. 1129

TATA AIG - Premium of Rs. 1234

Religare - Premium of Rs.1666

The lowest premium is Rs. 942 for a travel insurance plan for a 10 days trip to any Asian country such as Singapore, Thailand. This means one has to pay less than Rs. 100 per day to make his trip safe and secured. Indian travelers must know that travel plans are not only inexpensive but they also provide coverage for loss of baggage, passport, hijack and even emergency treatment.

Travel Insurance plans available for UK trips

The following list of top 5 policy quotes in terms of lowest premium are for 1 person looking for a single trip to UK. The trip duration is 10 days and the chosen sum insured is US$ 500000.

Universal Sompo - Premium of Rs. 942

Bajaj Allianz - Premium of Rs.991

HDFC Ergo - Premium of Rs. 1015

Reliance - Premium of Rs. 1129

Bajaj Allianz ( Travel Elite Platinum) - Premium of Rs. 1139

Universal Sompo provides the lowest premium. The premium of travel insurance plan is also Rs. 942 for a 10 days trip To UK.

Travel insurance policies for US trips

The following list of top 7 policy quotes in terms of lowest premium are for 1 person looking for a single trip to US. The trip duration is 10 days and the chosen sum insured is US$ 500000.

Universal Sompo - Premium of Rs. 1344

HDFC Ergo - Premium of Rs. 1438

Bajaj Allianz - Premium of Rs.1441

IFFCO-TOKIO - Premium of Rs.1456

Bajaj Allianz ( Travel Elite Platinum) - Premium of Rs. 1658

TATA AIG - Premium of Rs. 1694

Reliance - Premium of Rs. 1783

The lowest premium is Rs. 1344 for a travel insurance plan for a 10 days trip to US. Just imagine, you are getting all types of risks covered just by paying less than Rs. 140 for each day of your trip.

Best travel insurance plans in India in terms of baggage and medical coverage

The survey also made clear that 79% people buy travel plan to cover medical emergencies. Safety of baggage is the second most vital reason as 60% people behind purchasing travel insurance policy. So let's find out best travel insurance plans in terms of medical emergency and luggage safety.

From the above list of travel policies for US, two plans by Reliance and Bajaj Allianz look best in terms of baggage cover.

Reliance Travel care platinum provides US$1500 for the loss of checked baggage for a premium of Rs.1783.

The Travel Elite Premium plan by Bajaj Allianz provides US$ 1000 for a premium of Rs. 1658 for the loss of checked baggage.

To get the best coverage for medical emergencies, the Titanium plan by HDFC ERGO is the best. It primarily covers:

Emergency Medical Expenses

Permanent Disablement/accidental death

Hospital Cash

Loss of Personal Documents

Accidental Death

Loss of Baggage

Financial Emergency Assistance

Personal Liability

What is the cost of international travel policy for a couple?

According to the survey, 52% of travelers prefer to have trips with spouses. So, if these people can avail a travel plan for visiting US or UK or Singapore, how much do they have to pay?

Let's start with US trip for 10 days for a sum insured of US$ 100000 covering 2 people who are 30 and 28 years old.

Religare offers the best plan which comes at a premium of Rs. 2407.

If you compare travel plans available for couples who wish to visit UK, keeping the same criteria for trip duration, sum insured and age of the traveler, Religare provides the best plan. The premium of the plan is Rs. 1537.

For a trip in countries like Singapore, Thailand within Asia which has been the top travel destination of 2015, a couple has to spend even less for a travel insurance policy. If you compare travel insurance plans that cover Asia, you will get the lowest premium of Rs. 1218 from Explore Asia plan provided by Religare.

The positive part of the survey is the increased awareness among Indian travelers. More than 90% of young generation is aware of the travel insurance which is a significant rise from last year's 80%. One of the major provider of travel insurance plans in India; ICICI Lombard underwritten a total travel insurance premium of Rs 100 previous year, one can expect the premium to increase by 5-10% in this year. The problem is not with the awareness; it is the lack of understanding about the benefits associated with these travel covers.

27% of the total respondents in the survey choose not to avail a travel insurance plan simply because they were under the wrong conception that such plans cover only accidents, loss of baggage and theft but don't provide medical coverage. This is far from being the truth as the complete break-up of Titanium plan by HDFC ERGO shows extensive coverage for medical emergencies.

25% surveyed people didn't buy any travel plan because they thought such plans are costly but it is not so. The price of all plans for person mentioned here are about less than Rs. 100 to less than Rs. 140 for each day of a 10 days trip. Travel insurance policies for couples are even cheaper as they cost in the range of less than Rs. 65 per day per person to less than Rs. 125 per day per person for destinations like US, UK and all countries in Asia including popular destinations like Singapore, Thailand.

Indians love to spend their holidays in international destinations. An international travel insurance plan doesn't cost much and offers a lot in return. If you are also a travel freak, you should insure the total duration of the trip so that you can enjoy your holiday with complete peace of mind.

Are Travel Agents Old School?

It appears you can't stare at the TV for 60 minutes without seeing a notice with William Shatner discussing Travelocity or that senseless dwarf discussing Orbitz. These travel sites have been extremely effective at encouraging voyagers to book their own particular carrier and lodging reservations on the web. So with this colossal push from the web to assume control over the travel business, one needs to ask, "Are travel agents old school?"

In the event that you have searched for some of these travel web sites, you have watched that they are stunning in the assorted qualities of travel choices that they make accessible. As a business traveler, be that as it may, your requirements are fairly unique in relation to the run of the mill aircraft traveler.

There are some certain administrations and genuine help that a living and breathing travel agent can give that basically can't be duplicated by a computerized site like Travelocity or Orbitz. Some of those administrations that a prepared business traveler would be unable to live without having...

A Travel Agent will give you...

- Focus. You as a business traveler are not orchestrating this excursion for excitement. You have particular business goals as a main priority. So on the off chance that you should remove time from planning for your business assignment to stress over travel agendas, lodging and rental auto reservations and so forth, that is time that you are not being beneficial for your business.

When you get the chance that you can call a skilled travel agent who knows your travel profile well and delegate those courses of action to that agent, they carry out their occupation in finding only the right facilities for you and you are liberated to do what you excel at, spotlight on your business and the up and coming business trip.

- Economy. It is hard to find that harmony between finding the housing that fit the requesting timetable of a businessman out and about and is conscious of the organizations travel spending plan too.

On the off chance that you utilize a computerized online travel administration, you may need to relinquish accommodation, timetable or area for economy.

A decent travel agent will endeavor to get you the right schedule while getting as close the corporate travel cost confinements as would be prudent. Furthermore, they will do it without taking up a considerable measure of your time.

- Back up. You needn't bother with help if your excursion goes totally as arranged. Be that as it may, in the event that you experience issues out and about, you can wind up in need or rescheduling flights and finding new lodging to work around scratched off flights, climate issues or other surprising intrusions to your arrangements.

These travel debacles are not aware of your tight due dates to meet your business objectives. In any case, you have a travel agent who is committed to giving you administration, he or she can locate those option courses and assets to do whatever they can to get you to your destination so you can direct your business on time.

- That individual touch. You may have travel inclinations that you need to accomplish with every outing you take. A travel agent has your profile and your travel history so they can do what they can to suit your inclinations.

Yet, in addition, when you have particular unique needs, for example, an eating regimen constraint or a requirement for convenience because of an inability, it will be a travel agent that sees to it that your needs are accommodated and you are well dealt with out and about.

- No Complications. In the event that your travel agenda includes making associations with different business accomplices who are going from various workplaces, complex travel calendars and schedule challenges that just can't be depicted to the nonexclusive screens of an online travel administration, you can disclose these inconveniences to your travel agent and they can work with other travel agents attempting to arrange the meeting and see to it that your agenda meets your prerequisites.

While the online travel administrations do give a profitable and moderate other option to the general voyaging open, it is anything but difficult to see their confinements on the off chance that you are attempting to book a trek that is dubious or in the event that you have particular needs that the screens don't suspect.

That is the reason working with a human travel agent ensures that this travel proficient person will devote themselves to the assignment of ensuring your excursion attempts to your details and that you get to your destination prepared to lead in business and be fruitful in your accomplishing your objectives.

Why Traveling Makes Us More Creative

Traveling is a wonderful hobby for millions of people across the globe. This also provides various advantages to people. Here's why traveling is important. The ability to move around from one place to the other place is the main virtue one can ever have. All humans and animals have been secured with this ability, but humans are always a step forward. We humans being, have an extraordinary virtue of seeing, experiencing and learning from it, and this is exactly what makes our traveling more satisfying and enriching.

A person who went on a long-distance journey returned home after some years. Till then, his family had either no or very little information regarding his situation and well-being. In some thrilling cases, a person would never return. In despite of all these barriers and difficulties, people traveled; not always because they needed to, but many times, also because they loved to. And why not? Traveling not only takes us to distant lands and explains us with various people, but this also removes the dullness of our lives.

This is certainly very unlucky that some people feel traveling is a sheer waste of time, energy and money. Some also discovery traveling a very boring activity. However, a good majority of people across the world wish traveling, rather than staying inside the partial spaces of their homes. They love to travel to new places, meet new people, as well as see things that they would not find in their homelands. This is a very common attitude that has made tourism, one of the most money-making, commercial sectors in the world.

People travel for different reasons. Some travel for work, others for fun, and some for finding mental peace. Though every person may have his/her own reason to go on a traveling, this is significant to note that traveling, in itself, has some inherent rewards. For one, for some days getting away from everyday routine is a pleasant change. This not only refreshes one's body, but also mind and soul. Traveling to a distant place and doing fantastic things that are not thought of otherwise, can refresh a person, who then returns home, ready to take on new and more problematic challenges in life and work. This makes a person forget his worries, problems, preventions, and fears, albeit for some time. This offer him a chance to think wisely and usefully. Traveling also helps to heal; this can mend a broken heart.

For many people, traveling is a way to achieve knowledge, and perhaps, a quest to find answers to their questions. For this, different people prefer to go to faraway and lonely places. For believers, this is a search for God and to gain higher knowledge; for others, this is a search for inner peace. They might or might not find what they are looking for, but such an experience certainly augments their lives.

With people, with their culture, opinions and ideas also travel. When they go from one place to the other place, they are bound to meet people and share their thoughts and experiences with them. This is where the exchange of ideas takes place, and it definitely broadens a person's outlook. This makes him/her think in a different way, from a different viewpoint. When we speak of cultural influences and exchange, food is one of the important factors. The food habits of people say a lot of things about them. It is very interesting to discover new and unknown ways and values; they really add spice to life.

Traveling also makes lifelong memories. Whether a person travels solo or along with family and friends, the experience certainly gives him/her nice and thrilling stories, which he/she can share with people back home. A good long holiday with loved ones allows him/her to spend some quality time with them, which in turn, benefits to renew and restore relationships and makes very strong one-to-one and family bonds. In fact, traveling away from home and spending time with near and dear one(s) can bring the relationship an entirely new perspective and possibly, people may begin understanding each other in a good way.

Addition to the above, traveling and getting away from our homes allows us to spend some time with our own selves. This makes us subtler and more tolerant towards others. This also makes it easier for us to meet and mingle with various kinds of people, and also explains us to live life to the fullest. Some of them travel from richer countries to poorer ones in pursuit of cheaper medication; some others travel from inferior countries to more developed ones to get the right medication. Medical tourism is today, one of the most essential parts of the travel and tourism sector and more than 50 countries have recognized it as a national industry.

Personal health is what makes travel very important. People here, travel because they don't have an option in most cases. One might wonder that if a person becomes medical aid only after he reaches his/her destination, what importance does traveling hold in this case? Well, traveling stimulates hope in a person. As a person travels and gets more and more faster to the destination, the hope of getting preserved and living a healthy as well as smooth life ahead goes on increasing. Thus, traveling makes a person more confident towards life. Traveling can therefore be a very enchanting and inspiring experience that may help recover the quality of your life. So, let the travel bug bite you so that you experience the excitement and the serenity of life at the same time, and arise a different person altogether.

Why Travel Agents & Tour Operators Need To Focus On Authentic Local Experiences To Stay Competitive

The major elements comprising the generic destination competitiveness model helps to identify the key success factors of destination marketing. Among the many approximate set of indicators used to determine destination competitiveness, local experiences is one of the key points. Elaborate empirical as well as conceptual research points out the relative strengths and weaknesses of different tourism destinations, which can then be used to study the impact of local experiences on the travelers and vice versa.

The discerning travelers of today's world love exploring unique experiences each destination has to offer and go much beyond staying in the top suite of hotels. Choosing the best dining options and spas has otherwise become passe. No online portal can take you to the hidden nuggets of the destination except the native folks. So, to match up with the millennials' definition of travel, you need to indulge with the locals which is way beyond any packaged holiday or cookie-cutter options.

Blurring the borders of traditional definition of travel 

It's important for Travel Agents to realize that selling travel is actually selling happiness. Imbuing travel goals based on interaction with local people makes travel more meaningful than ever. Authenticity, simplicity, and culture are the new watchwords driving the growth of the travel tourism sector internationally. The evolution of the whole new travel genre is based entirely on indulging in local experiences. It is not about the best luxury experience but the intrinsic local touch will definitely add magic to the holiday memory. Remember that the most valued luxury is experience.

Present-day culture travelers have moved beyond the familiar environs and revel in the experience in itself. Clearly enough, tourists that like to break the mold are more interactive with local residents. This paradigm shift has not however, completely caught up with everyone yet. The focus of investments still remains on the traditional tourism-related components.

To create a layered travel experience, the hospitality industry is gradually promoting themselves as the portals for the local community. Although that might not be a necessity but local experience will definitely give a competitive advantage.

Blending national culture and heritage into luxury travel tours need careful planning and is bound to enhance tourist's experience. Getting certified from the government tourism policies which include inter-cultural education policy helps to makes the travel agents' outset more impressive.

Counter homogenization of the travel experience is the new clause of the tourism authorities. Embracing local cultural tourism will have an impressive lasting impact on travelers with like-minded outlook. Traditional vertical distribution chains among the travel providers has given way to complex value chains and thus in this increasingly competitive marketplace, providers need to seize every opportunity for competitive advantage. Collaborative advantage through local and government partnership is thus a new norm. Local culture and society has become an essential part of tourism value chain. The integrated inter-relationships between travel and other socio-economic sectors are now conceived as a 'value network'.

Promoting Local Cuisine 

Sustainable tourism, which is tantamount to responsible tourism, has been a major concern in the travel industry for the past couple of years. Experiencing the local culture largely contours around the traditional gourmet industry. Trying traditional food completes the cultural experience of the place. Talking of the economic aspect, if you are eating at McDonald's, instead of benefiting the local community, a major chunk of it leaves the local socio-economic circle. The international traveler's gang consist majorly the Western tourists and without much doubt, the need for Western food is always higher than the local recipes.

While traveling for a single night's stay, people might think it not important enough to connect to the local traditions. However, pennies in the pocket of the local cuisine industry help to uplift the local tourism industry on a larger picture. Walking into a McDonald's or a KFC might fill your tummy but will neither add to the local tourism sector nor enhance your experience. For instance, Vietnamese pho is now a big pull for travelers in Vietnam and when in Costa Rica, do not miss gallo pinto. Building connections with the local folks is not always the only token you get in return but you actually help to build a perception about your nationality as a whole. A country's heritage is strongly rooted within the memories of the local people and as the old folks say, the way to a man's heart is through his stomach!

Experiential travel - creating a deeper connect 

The demand for 'experiential travel' is arguably the most significant as well as systematic trend in worldwide tourism. The term typically defines immersive, authentic, local, and more active travel trend. While some travel enthusiasts would like to argue that travel is inherently 'experiential' by nature and that the term is overused, the idea is to make it more mainstream. Travel consumer attitude has varied wildly when it comes to local tourism and it is its degree of definition varies widely how the overall trend is approached.

On a deeper emotional and more personal level, people want to travel better at the end of the day. Growing numbers of travelers shying away from the traditional packaged travel brochure is definitely a valid evidence of how local experiences matter for the new age travelers.

Going Social 

Relying on technology and global networks of small and individual travel providers, travel brands are offering more connected experiences. Almost infinite online matrix of social media networks keep us connected no matter where we travel. But ironically enough these social networks are gradually isolating people in real life than helping them make closer to human connections. The online sharing portal pair travelers with the local citizen network and offer experience to travel like local.

With packaged tourism losing its appeal among modern day travelers digs the question of what exactly is authentic travel. Consumer data might reveal a section of these answers but tracking social media will give an organic result. For travel brands targeting specific niches, evaluating and adapting to the changing travel behavior is much important.

Tech tools 

Undoubtedly, the most influential and dependable tech tool for millennials is the smartphone. Mobile phone location technology has made connection right. On niche apps, review-stuffed maps by Google etc. have made planning for set-piece events easier than ever before. The transparency of peer-to-peer accommodation and transportation services like Airbnb and BlaBlaCar add to the authenticity of the travel experiences and their reviews. The underbelly of a place can only be offered by the natives of the place and thus creates difference in the authenticity of the travel experience.