Following the ease in Covid restrictions in the UK, Yorkshire brand marketing agency the fabl has released a whitepaper on the future of hospitality and tourism. The paper details opportunities in the how, why and where we’re going to be travelling, and why these have changed because of the pandemic.
The hospitality industry is changing faster than ever before and the travel industry is one of the largest and most influential sectors. According to the World Travel and Tourism Council, in 2019 the Travel & Tourism sector contributed 10.4% to global GDP; a share which decreased to 5.5% in 2020. In 2020, 62 million jobs were lost, representing a drop of 18.5%, leaving just 272 million employed across the sector globally, compared to 334 million in 2019.
In monetary terms for the UK, Visit Britain’s pre-pandemic visitor economy records show that tourism was worth GBP 127 billion to Britain’s economy and as Britain’s seventh largest export industry, inbound tourism’s economic contribution was valued at GBP 26.2 billion pre-covid-19.
Mags Walker, Managing Director of the fabl said:
I am delighted to release the fabl’s whitepaper on tourism and hospitality. It’s a document that captures in great detail the opportunities for brands and destinations as the industry reopens. As lockdown eases and the tourism sector can begin to assess the way forward. The fabl is well positioned to help businesses and destinations create a marketing strategy. A big thank you to my team at the fabl for their expertise and diligence in putting together this fascinating and, for me personally, extremely enlightening document.
The fabl appointed Liz Smailes in a new role as Head of Business Development in January, with a key focus on destination tourism and leisure to complement their existing strong client base in retail, fashion, food and drink sectors.
The pandemic has been one humongous blip that brought tourism and hospitality to a grinding halt. Where other business sectors have had two years of pivoting, these sectors can only now truly begin to shake off the dust and consider how they can recover.
Heralding a tourism renaissance, the travel sector can now seek answers on the way forward, and truly assess for the first time since early 2020 the long-term changes for the sector. The future remains predictably unclear, but we are in a better position to address the why, and define how, destinations and hospitality can adapt to meet the changes.
The team at the fabl has analysed numerous insight surveys from leading global tourism organisations, national destination management organisations and leading retail consumer research. From this, they have identified three essential considerations for any destination and hospitality marketing strategy looking to meet the new needs of travellers short, medium and long term.
The first consideration is wholesome reunions; the bringing together of distant connections in distant locations, often involving multiple generations to engage with varied interests and requirements.
The second consideration is experiences; the what, how and why of real life encounters compared to virtual worlds and material possessions to explore and discover a place, and what it takes for brands to resonate.
The third is community, that sense of belonging that transcends spaces and the people that inhabit them into a set of collective values unique to each destination and product, to then fuel behaviour and draw people together.