Summary Amid growing market uncertainty, increasing costs, and rising competition, organizations within the travel and tourism industry are planning to increase focus on improving operational efficiency and sustainability initiatives, and expansion in the current market. Mergers and acquisitions are expected to increase within the travel and tourism industry with emerging markets such as China, India, and Russia offering prominent growth opportunities. As organizations intend to increase their use of technology, and concentrate on internal operating cost reductions in H1 2016, 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 5.9% over the next six months. Additionally, 58% of travel and tourism industry executives expect supplier prices to increase in the next six months and over one-fifth of travel and tourism industry executives highlighted limited or generalized deployment of e-procurement within their organizations.
Key Findings - The majority of travel and tourism executives highlight improving operational efficiency and expansion in current market as key priorities for H1 2016
- The highest percentage of respondents expect the UK to provide significant growth opportunities during the next six months
- Globally, the highest percentage of executives expect an increase in merger and acquisition activity in H1 2016
- The majority of executives across small and medium-sized companies expect more capital expenditure on IT infrastructure development in the next six months
- In total, 32% of respondents expect the global procurement budget to remain within the US$250,000 range during H1 2016
- Overall, 22% of respondents indicated limited or generalized deployment of e-procurement within their organizations
Synopsis Canadean's Travel and Tourism Industry Business Outlook and Procurement Report H1 2016 examines executives' opinion on the business outlook and procurement activities over April-September 2016. 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.
What else does this report offer?
- Key business priorities: examines travel and tourism companies' important priorities for H1 (April-September) 2016
- Emerging and developed markets: provides information about key emerging and developed markets, which will offer the most growth over H1 2016
- Change in MandA 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 April-September 2016
- E-procurement: identify executives' perspective towards e-procurement within the travel and tourism industry
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 April-September 2016
- Helps to manage costs by providing information about supplier price expectations for the next six months
Our reports have been used by over 10K customers, including:
121 pages •
By Infiniti Research Limited
• Mar 2019
About this market The number of SMEs that are currently using ECRs is increasing at a rapid pace, which will help the ECR vendors to expand their customer base during the forecast period. Factors such as low cost and easy access have increased the penetration of ECRs in the end-user segments. Moreover, the growth of SMEs...
111 pages •
By Infiniti Research Limited
• May 2019
Global Commercial Beer Dispensers Market: About this market Commercial beer dispenser is an equipment that serves beer from kegs in bars, pubs, restaurants, and hotels. Technavio’s commercial beer dispensers market considers the adoption of beer dispensers in hotels and restaurants, breweries,...
United Arab Emirates (UAE) Outbound Tourism Market, Tourist Numbers, Countries (United States, United Kingdom, India, Germany, Switzerland, Singapore, Australia, Malaysia, Turkey, South Africa) Purpose of Visit (Holiday, Visit Friends & Relatives, Business, Others) United Arab Emirates (UAE) outbound tourism market...
Well-developed Infrastructure, Connectivity, and Religious and Medical Tourism to Drive Industry Growth Tamil Nadu is one of the leading states when it comes to the tourism industry in India; the state has been promoting tourism under the ‘Enchanting Tourism’ program. The state has almost a one-fifth share in both domestic...
The global pro speaker market is expected to reach around $2 billion, growing at a CAGR of close to 3% during 2018?2024. The advent of technological advancements such as IoT and AR is driving the global pro speakers market. There is a massive demand for audio speakers in the commercial end-user segment as corporates are opting best-in-class...
Saudi Arabia Manpower Outsourcing market is expected to grow US$ 5.67 billion by 2027 from US$ 2.35 billion in 2018. The sales and marketing manpower outsourcing are expected to attain the highest growth trajectory in the manpower outsourcing market, by growing at the estimated CAGR of 10.9%. However, Technical staff would continue its dominance...
The global cloud POS market was valued at US$ 4.95 Bn in 2018 and is expected to grow at a CAGR of 21.6% during the forecast period 2019 - 2027, and reach US$ 27.82 Bn in 2027. Global cloud POS market is majorly driven by increasing adoption of cloud technology across the industries and the increasing need for improved operations in the business....
117 pages •
By Infiniti Research Limited
• Apr 2019
About this market Rising pet ownership and increased spending on pets will be a key factor driving the growth of the market. The rising aging population in developed countries is driving the growth of global pet daycare and lodging market as pets are considered good companions for the elderly. With the growing ownership...
Indian Tourism Market will Generate $106.9 Billion in Revenue as New Technologies Continue to Disrupt the Tourism Landscape The Indian tourism market is fast-growing with immense potential due to the country’s rich cultural and geographical diversity.It is one of the major sectors contributing to GDP of the country and...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.