Low Cost Evolution in Travel & Tourism (2020) – Thematic Research
- Pages: 26
- Published: July 2020
- Report Code: GDTT-TR-S036
Low cost evolution has impacted the way we travel today, and it is imperative to keep up with trends in the low cost travel market.
This thematic research report takes an in-depth look at the theme of Low Cost Evolution including the major impacts it will have on the industry, across the key players and tourists. This report analyzes the key trends within online travel, then presents an array of case studies, observing the impacts and offering recommendations for travel & tourism companies. In addition, the major companies that are and have been involved within low cost evolution are then discussed.
“The development of technology in the travel industry has allowed the low cost market to take off. By making fare comparisons easy using price comparison websites, alongside development of apps which give travelers information at their fingertips has made low cost travel a lot easier and accessible. Technology development is a key trend in low cost evolution, as it spans over many categories including booking, marketing, accessibility and much more. Technology will be even more important amid the COVID-19 pandemic, ensuring that customers are kept up to date with travel restrictions”. – Rheanna Norris, Travel & Tourism Associate Analyst, GlobalData.
This thematic report provides an overview of the effect of low cost evolution across tourists and travel providers today.
The key trends within this theme are identified relating to other themes such as migration and the VFR market, but also specific to low cost evolution.
Several case studies are included to analyze both the positive and negative impact of low cost evolution across a variety of tourism providers including airlines, hotels, hostels, travel intermediaries, transport and incorporating the sharing economy.
Our unique thematic analysis then dives deep into the development of low cost evolution, views surrounding this theme and what factors have contributed to its success.
Companies that dominate the low cost travel industry are then listed including the likes of Ryanair, Skyscanner and AirBnb.
As COVID-19 will impact the travel industry to a large extent, low cost companies have the potential to recover better than others. The low cost offering will align with recession-hit budgets and the desire to travel again when it is safe to do so.
Technology has been important in the evolution of the low cost travel market. By making it easier to book travel and compare prices, technology developments suit the low cost traveler as it makes things easier for them to get the best deal.
The low cost airline industry has taken off in Europe, due to destinations being close together and the presence of two of the biggest low cost airlines in the world being based in Europe. Cheap fares have allowed travel across Europe to be much easier alongside visiting destinations with smaller airports.
Reasons to buy
Understand the low cost travel industry through accessing the impacts and observing case studies identifying the key leaders, disruptors and those who fell behind.
Assess the relationship that low cost travel operators have with their customers and with competitors.
Discover how to develop a low cost company through an array of recommendations and assess all the implications that may be involved.
GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
Accor, AirAsia, Airbnb, Booking Holdings, easyJet, Eurowings, Expedia, Greyhound Lines, Hilton, Hostelworld, Jack’s Flight Club, Level, Lyft, Norwegian Air Shuttle, Ryanair, Scoot, Skyscanner, Southwest Airlines, Travelodge, Travelzoo, Trivago, Uber, Whitbread PLC
Table of Contents
Low cost evolution trends in travel and tourism
Mergers and acquisitions
Impact of low-cost evolution on the travel and tourism industry
Recommendations for travel and tourism companies
Publicly traded companies
Appendix: Our “Thematic” research methodology