Market Updates

Travel and Tourism Industry - Witnessing High Competition

January, 2019

The competition around Travel, Tourism and Hospitality industries is increasing and in such scenario maintaining customer satisfaction to retain existing customer is only the strategy to remain successful. For many countries such as Greece, Spain, Thailand, Egypt, and many island nations such as Maldives, Bahamas, Fiji, tourism is an important economic driver.

By utilizing the power of analytics destination marketers can better understand their visitors, offer customized and special visitor packages, improve their marketing by targeting right geographic areas. Here crowd analytics comes into picture.

How Crowd Analytics is useful?

Crowd analytics in travel and tourism industry can be used for determining following critical decisions such as prioritizing whom to target, from where visitors come, where they stay, what they like, how long they stay, which services are most appropriate, expected demand from several customer segments, how pricing can be used to enhance revenues. Crowd analytics provide answers to all these questions and helps in attracting more visitors. Travel and tourism industry is tightly coupled with building strong customer loyalty, improving service, speed, flexibility, efficiency, and profits while reducing additional costs.

Hospitality and cultural attraction managers can segment their offer according to each category of tourists by knowing about the flow, behaviour and pattern of the tourists in the city and analysing their real-time activities. City authorities leverage the power of crowd analytics for enhancing the safety and security at public places and detecting anomalous behaviour before any incident occurs. It also enhances the tourists’ safety, to maintain customer satisfaction.

For example - Nokia offers Cognitive Analytics for crowd insight for travel and tourism verticals to make effective marketing and investment decisions. Several other companies such as DFRC also offers crowd analytics solutions for travel and tourism vertical. For Ex: Sagrada Familia one of the most famous monument in Barcelona selected DFRC for analysing footfall, nationality, and mobility patterns of tourists.

– Sonam Chawla, 
Research Analyst,
Infoholic Research