Let’s go on holiday!

Anouk Fülöp
Anouk just finished her Bachelor EBE and is currently working as an intern at Philips. She is interested in Behavioral Economics and current events.

It is almost that time of the year again. Exams are over, there is no new semester to start and you finally have some free time. That’s right, it’s almost time for the holidays! Time to enjoy the summer and get some new energy before you start yet another year of school. But how do we do that? Let’s look at some of the trends in the travel industry.

First of all, whether people go on holiday or not depends on a lot of things. The economy is growing again and people are willing to spend a bit more money to go on holiday. However, recently there is another factor that weighs more heavily than money. With all the terrorist attacks and unrest in the world people value safety even more and this greatly influences the destinations that people choose. The places perceived as unsafe will be avoided by travellers for at least a few weeks, maybe even longer. But when the peace returns so do the bookings.

Another trend that can be found is that more people are booking short holidays, although long holidays are still more popular. We go away for just a weekend more often than we did in the past couple of years. These trips are often booked last minute so we know what the weather or situation in a country will likely be like when we go.

Furthermore, one of the biggest trends that impacts the traveling industry is the digitalization of it. With the world becoming more and more focused on digitalization and people more and more focused on their laptops, mobile phones etc, the travel industry needs to go where the costumers are. Just remember the last trip you booked. I bet that you did not go to a travel agency but booked your flight via for example and maybe your room via Airbnb. If not those sites, my guess is that you at least booked online.

And guess what, you are not the only one. We tend to book our trips online and look for the best deals. Some of the big companies in the travel industry, like KLM, notice this trend and they try to adapt to this new way of doing business. But with more and more companies entering the market it is not easy to say who will survive in the end.

What will we do? Will we go back to booking via travel agencies, or will we continue to book more and more of our holidays online? Will the short trips become more popular than the long ones? There is no telling what will be the norm ten years from now, but I do know one thing for certain. Wherever I book my holiday or whatever my holiday may be, I will definitely enjoy the trip!

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