TripAdvisor Reveals 2014 Travel Roundup & Trends Forecast For 2015

2014 – YEAR IN A RECAP

Travel Spend

The year began with an optimistic outlook for travel plans for Indians with results of the TripBarometer study (April 2014) painting a positive picture for the global travel industry. As per the findings, overall travellers planned to spend more on their holidays in 2014 with the average annual traveller spend rising from U.S. $5,955 in 2013 to U.S. $6,136 this year, an increase of three percent. On average, Indians planned to increase their annual travel spend by 15 percent from US $3,264 in 2013 to U.S. $3,746 in 2014, though this was still behind the average global travel budget.

The proportion of travellers planning to travel more increased across almost all markets. This year, 90 percent of global travellers planned to travel domestically (up from 87 percent in 2013) and 77 percent planned to travel internationally, up 12 percent compared to 2013 (65 percent).

The study also revealed that ninety-five percent of Indian travellers planned to travel domestically (down 1 Pct compared to 2013) while 66 percent planned to travel abroad, up 21 percent compared to last year.

The increase in travel budgets and travel plans was mirrored by business confidence - 70 percent of global hoteliers said they were optimistic about their profitability in 2014 (up from 67 percent in 2013). Similarly, four in five (83 percent) Indian hoteliers said they were optimistic about their profitability in 2014 (down from 89 percent in 2013). Over half (55 percent) of Indian hoteliers also planned to increase room rates with 51 percent saying this was due to increased overheads.
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