Armadillo Token

Travel industry details

In order our publics to understand the value of our project we need to give brief details about the industry in general:

  • The International Air Transport Association (IATA) expects overall traveler numbers to reach 4.0 billion in 2024 (counting multi-sector connecting trips as one passenger); exceeding pre-COVID-19 levels (103% of the 2019 total). [source: iata.org]
  • Revenue in the Travel & Tourism market is projected to reach US$855bn in 2023 [source: statista.com]
  • The largest Travel & Tourism market is the Hotels market with a projected market volume of US $410billion in 2023. [source: statista.com]
  • The average revenue per user (ARPU) is expected to amount to US $460. [source: statista.com]
  • In the Travel & Tourism market, 74% of total revenue will be generated through online sales by 2027. [source: statista.com]

Interesting:

  • Travelers aged 18-34 are the most likely to go big on their next trip (80% compared to 56% of travelers over 50). [source: Expedia]
  • Generation X travel behavior shows that travelers over 40 are more likely to travel with a significant other or multiple generations of family. Travelers under 40 are more likely to travel with a group of friends or solo. [source: Evolve]
  • About 40% of Millennials pick holiday destinations based on how Instagrammable the pics will be. [source: passport-photo.online]
  • 45% Gen Zers trust influencers’ travel recommendations. [source: passport-photo.online]
  • 6 in 10 Gen Z’s (56%) and Millennials (61%) are “influenced by the quality of the culinary scene when choosing where to stay in a destination”. [source: Travelmarketreport]
  • 38% of Millennials indicate celebrities and digital content creators have a great deal of influence on their travel decisions. [source: Travelmarketreport]
  • 57% of Millennials “have made a travel purchase based at least partially on a post by a celebrity or influencer”. [source: Travelmarketreport]

And more:

  • 59% of travelers are booking trips 2-5 months in advance, compared to less than 2 months in advance in 2020 and 2021. [source: Evolve]
  • 62% of travelers plan on taking 3 or more trips in 2023. [source: Evolve]
  • The percentage of shoppers that abandon their travel purchase is 85% for desktop users and 91% for those buying on a mobile device. [source: SalesCycle]
  • 72% of mobile bookings happen in the 48 hours following Google searches that include the words “tonight” and “today”. [source: StratosJets]
  • In 2022, 64% of those booking online make online purchases on desktop and 44% make them on a mobile device. This shows a shift from 2021, when 59% of bookings were done on desktop and 41% on a mobile device. [source: SalesCycle]
  • 70% of all travelers do their research on a mobile device. [source: StratosJets]
  • Travelers visit 38 sites on average to finalize and book their travel plans. [source: Skift]
  • 45% of travelers prefer booking a trip from start to finish from a single website that presents options for flights, accommodations, car rentals, and extras. [source: Travelport]
  • Of travelers with 2022 travel plans, 47% say they won’t consider canceling until much closer to their trip dates and 32% plan to travel no matter what happens. [source: Evolve]
  • 66% is the revenue share of online sales in the global travel and tourism market. [source: Statista]
  • 11% of travelers are willing to try daring or high-adrenaline activities. [source: Expedia]
  • 24% of travelers are looking for an unforgettable night out. [source: Expedia]
  • 21% of travelers are most excited to try experiences they would usually never do, like: sleeping under the stars (19%), traveling alone (17%), skinny-dipping (11%), or having a vacation romance (10%). [source: Expedia]
  • 61% of travelers are most interested in outdoor activities (like hiking, biking, and kayaking) and wellness/relaxation experiences. [source: Evolve]
  • About 20% of travelers worldwide plan to take more guided cultural activities than they did in 2019. According to recent food tourism statistics, this fact also applies to cultural dining experiences. [source: Trip Advisor]
  • Water sports experiences have seen +311% growth between 2019 & 2022. [source: Viator]
  • Cruise, sailing & water tours experiences have seen +122% growth between 2019 & 2022. [source: Viator]
  • 73% of people looking forward to trips “outside their comfort zone” that push them to their limits, there will be an influx of niche experiences. [source: Hospitaliy-on]
  • 93% travelers are willing to cut back on some aspects to save money on a trip, – such as gifts or souvenirs (65%), eating out (41%), transportation (36%), or accommodations (33%) – the majority (71%) is not willing to cut back on their activities and experiences. [source: PRnewswire]
  • 95% prefer to spend at least part of their trip on new and unique experiences (PRnewswire)
  • 68% of respondents said they’re prepared to “go big” on their next trip. [source: Invoca]
  • Travelers who book tours and activities on their phones spend 50% more than those who book elsewhere. [source: Explodingtopics]