Travel and Tourism Industry Business Outlook and Procurement Survey H1 2017
GlobalData's "Travel and Tourism Industry Business Outlook and Procurement Survey H1 2017", report examines executives' opinion on the business outlook and procurement activities over June-November 2017. Organizations can know about key business priorities, supplier price variations, changes in procurement expenditure, and supplier prices with the implementation status of e-procurement within the travel and tourism industry. Additionally, it provides information categorized by region and company type.
Amid growing market uncertainty, and rising competition, organizations within the travel and tourism industry are planning to increase focus on improving operational efficiency and sustainability initiatives, expansion in the current market, and new product development. Mergers and acquisitions are expected to increase within the travel and tourism industry over the next six months. Emerging markets such as China, India, and Russia are forecast to offer prominent growth opportunities for the travel and tourism industry. Moreover, organizations intend to increase their use of technology, and concentrate on internal operating cost reductions in H1 2017; procurement activities will increase on IT services and MRO activities. Consequently, procurement expenditure for travel and tourism organizations is projected to increase by an average of 5% over the next six months. Additionally, 51% of travel and tourism industry executives expect supplier prices to increase in the next six months.
What else does this report offer?
- Key business priorities: examines travel and tourism companies' important priorities for H1 (June-November) 2017
- Emerging and developed markets: provides information about key emerging and developed markets, which will offer the most growth over H1 2017
- Change in M&A activity: analyzes travel and tourism industry executives' opinion on changes in merger and acquisition activity globally
- Business concerns: identifies major business concerns that are likely to impact travel and tourism companies
- Change in capital expenditure: tracks the expected change in capital expenditure both globally and regionally across key areas
- Budget allocation: examining procurement budget expectations for travel and tourism organizations over the next six months
- Supplier price outlook: determine the expected change in supplier prices over June-November 2017
- E-procurement: identify executives' perspective towards e-procurement within the travel and tourism industry.
- The majority of executives highlight improving operational efficiency and expansion in current market as key priorities for June 2017-November 2017
- Executives who operate in Europe view Germany as the more significant potential developed market, compared to those operating in North America
- Overall, 30% of respondents from large companies foresee no change in mergers and acquisitions activity in the coming six months
- Organizations within the travel and tourism industry expect to increase their use of technology and focus on internal operating cost reductions in next six months
- Large companies indicate more focus towards procurement of capital equipment in the next six months, compared to small and medium-sized companies
- Over one-quarter of executives who operate in the Rest of the World indicated limited deployment of e-procurement within their organizations.
Reasons To Buy
- Highlights key business priorities thus helping travel and tourism companies to realign business strategy
- Develop or adjust business expansion plans by knowing about significant growth-offering emerging and developed markets
- Make changes in procurement budget allocations by analyzing procurement expenditure projections anticipated by executives for June-November 2017
- Helps to manage costs by providing information about supplier price expectations for the next six months.
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