Social Media in Travel and Tourism – Thematic Intelligence

Social Media in Travel and Tourism Thematic Report Overview

Social media has proven beneficial for industries across the globe to garner a customer base and reach out to a larger set of audiences. In the travel and tourism industry, social media can provide a competitive edge to companies by predicting future travel trends. Travel enthusiasts are using content-sharing platforms such as Instagram and Pinterest as a way of finding inspiration for their trip. Travel trends such as staycations, rural tourism, and camping trips are gaining prominence among travelers based on the searches conducted by social media users. With the upliftment of travel restrictions post the pandemic, organizations can now leverage social media analytics to know more about different trending destinations. Instagram, the Meta-owned photo and video-sharing site, is a key player for marketing travel companies. The photo-sharing platform enables companies to engage with target-specific customer bases through different online communities created by content creators by posting videos and advertisements at any time. However, the ad-funded business model by social media companies might face a threat of increased regulatory scrutiny. In 2023 alone, Alphabet, Amazon, ByteDance, and Meta were fined a combined $7.7 billion for breaching data privacy laws over their ad-targeting practices.

This social media in travel and tourism thematic research report gives you an in-depth insight into the theme of social media and the impact it has on the travel and tourism industry. This report also analyzes the travel and tourism industry players impacted by the social media theme. The report further entails a deep-dive analysis of the industry, including several real-life case studies that showcase how destinations and companies have responded to the impact of this theme on their operations. Our analysts have also made astute recommendations for growth opportunities in the travel sector with descriptions of companies throughout.

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Social Media in Travel and Tourism Trends

The primary trends that will shape the social media theme over the next 12 to 24 months are classified into technology trends, macroeconomic trends, and regulatory trends.

Technology Trends: The rising popularity of artificial intelligence (AI), content moderation, the metaverse, gaming, super apps, and internet TV, and esports are the key technology trends likely to influence the social media in travel and tourism theme.

Macroeconomic Trends: Economic uncertainty, changing business models, splinternet, digital authoritarianism, and impact from emerging economies, including India and China, are the macroeconomic trends expected to drive the social media in travel and tourism theme.

Regulatory Trends: Data privacy, copyright, human rights, online harm, and antitrust are a few of the regulatory trends that are expected to boost the adoption of social media in the travel and tourism sector.

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Social Media in Travel and Tourism Industry Analysis

Social media has a significant influence on the way travelers interact with travel and tourism players. Majority of the holiday inspiration is drawn from travel content available on social media platforms. This, in turn, is equipping travel enthusiasts to demand immersive experiences from travel providers. With the prevailing use of smartphones and tablets, social media platforms and apps have become omnipresent. The continuous evolution of smartphones and the emergence of a tech-savvy generation are extensively driving the global app marketplace growth, which is playing a primary role in promoting the travel and tourism Industry.

The report also covers insights on the following:

• Case Studies
• Signals
• M&A Trends
• Patent Trends
• Company Filing Trends
• Hiring Trends
• Social Media Trends

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Social Media in Travel and Tourism Industry Value Chain Analysis

The key value chain components in social media in the travel and tourism industry include content layer, distribution layer, data layer, services layer, and customer layer.

Content Layer: Consumer profile data, user-generated content, news, film and TV, and games are the key components of the content layer. This layer consists of both user-generated and third-party content. In this layer, content is produced both by users and third parties. The content is then shared on social media platforms.

Social Media in Travel and Tourism Value Chain Analysis

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Social Media in Travel and Tourism Theme – Competitive Landscape

A few of the key companies making their mark within the social media theme are:

Public Companies: Alphabet, Amazon, Meta, Roblox, Snap, and Tencent are a few of the leading public companies, making their mark in the social media in travel and tourism theme.

Private Companies: ByteDance, Reddit, Signal, Telegram, and X are a few of the main private companies in the social media in travel and tourism theme.

Travel & Tourism Companies: Airbnb, Booking.com, Britannia Hotels, Dubai Tourism, KLM, Norwegian Cruise Lines, Ryanair, Teletext Holidays, and WestJet are a few of the leading travel & tourism companies gaining traction in this theme.

Social Media in Travel and Tourism Theme Analysis by Companies

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Travel Intermediaries Score Card

The travel intermediaries scorecard ranks companies through the thematic screen, valuation screen, and risk screen. The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.

Travel Intermediaries Score Card Analysis

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Scope

• This thematic report provides an overview of the impact social media has on the travel sector and seeks to understand some of the contributory factors.
• The key trends within this theme are split into three categories: technology trends, macroeconomic trends, and regulatory trends.
• Several case studies are included to analyze the multiple ways countries and companies have responded to the impact of this theme’s growth and what they are doing to grow with this theme.

Key Highlights

Social media has transformed customer engagement in the travel and tourism sector, allowing businesses to build authentic relationships with their audience. The direct and real-time nature of social media platforms enables businesses to interact with customers on a personal level, enhancing customer satisfaction and brand loyalty. Travelers increasingly turn to social media to seek information, resolve queries, and voice concerns. Businesses that provide prompt and helpful responses demonstrate a commitment to customer service, instilling confidence in potential customers. Social media is especially valuable during travel, as travelers can seek assistance while on the go, leading to a positive customer experience.

Social media platforms have transformed the way travelers discover and seek inspiration for their next adventures. Through the use of hashtags, geotags, and content sharing, users can easily explore a wide array of destinations, attractions, and experiences from all around the world. Travel businesses and influencers play a pivotal role in showcasing destinations through visually engaging content, effectively acting as virtual travel guides for users. Social media enables travelers to access a vast repository of destination information in one place. By following travel businesses, influencers, and travel enthusiasts, users are exposed to a diverse range of destinations they may not have considered otherwise.

Social media provides travel businesses with valuable opportunities to conduct competitor analysis and benchmark their social media strategies against industry peers. Understanding what competitors are doing well, where they may be falling short, and how their audience engages with their content helps businesses refine their own social media approaches. By monitoring competitor profiles and content, travel businesses can gain insights into successful tactics used by their competitors. This includes analyzing the type of content that garners the most engagement, the frequency and timing of posts, and the use of specific hashtags or campaigns.

Reasons to Buy

• Understand the current social media trends within the travel landscape today and how these will escalate in the near future.
• Assess how travel and tourism companies such as tour operators, OTAs, and DMOs are utilizing social media to drive revenues.
• Acknowledge the potential pitfalls of using social media by understanding the social, cultural, and environmental effects on the destination.
• Discover recommendations for businesses involved in social media.
• 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.
• The travel and tourism supply chain across the globe now have an opportunity to capitalize on social media, and there are notable examples of this. This report provides an elaborate understanding of how this theme will continue to be a key theme in the future travel landscape.