In the Golden Age of Tourism

Tourism is a relatively young phenomenon. Looking back, it emerged in the 1950s and 1960s. When suddenly, due to a combination of factors, international travel became more accessible. This movement led to both the rise of mass tourist destinations and the growth of companies focused on the service sector. At the same time, a global tourism infrastructure was established. However, at The Revenue Team, we believe that the tourism sector has not yet peaked.

Tourism in the next decade

Our statement is based on the latest worldwide tourism forecasts for the next decade, which are very encouraging. Tourism in general, but especially in rural areas, shows a growth situation for several reasons that we will detail below.

1. The first of these lies in the social and psychological effects of the COVID-19 pandemic. Consequently, there has been a change in the scale of priorities for the vast majority of people. Prioritising having more free time, through getaways or holidays, over other issues. At the same time, this tourist will change their perception of tourism per se, especially mass tourism. A new conception, therefore, that will have a direct impact on the deseasonalization of destinations and also on the diversification of destinations.

2. The creation of new tourist value propositions, whether through investment in repositioning or product improvement; with a higher degree of added value. This favours the orientation towards new market segments that lead to an increase in tourist spending, in absolute terms. Finally, the combination of strong foreign demand and the normalisation of domestic demand favours capital investment, the creation of qualified jobs, and the technological modernisation of the tourism sector.

In short, the tourism pattern is evolving and will continue to evolve. Becoming less irregular – seasonal – in terms of annual occupancy. Similarly, it will boost tourism in areas or regions, especially rural ones, where until recently, the relevance of this sector was quite low.

Fierce competition

However, it should be noted that the greater the demand, the greater the competition. Therefore, in this scenario, it is equally important to thoroughly review your tourism product, and if necessary, make improvements to make it more attractive. And thus, stand out from your competitors. Consequently, we encourage you not to delay this review process any longer. Firstly, we recommend that you identify those aspects that need improvement to boost your sales. Conversely, if you already know the problem, the solution is closer.

Whatever your case, at The Revenue Team, we have the tools and knowledge necessary to assist you at any stage of the process of creating, innovating, or modernising your tourism service, with the clear intention of achieving a substantial improvement in your revenue.