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Research Outline
Prepared for Chris W. | Delivered October 7, 2019
Community-centric Travel Market
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Goals
To obtain trends, statistics, revenue, and segments for the community-centric hospitality market. Just like
FTLO
, brands within this market are typically focused on "
cultivating community through travel
".
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Early Findings
For The Love Of Travel
(known as FTLO) is a
technology-enabled
travel brand that is "reimagining the
group travel experience
for young adults". The company enables solo travelers to
find community
by connecting with
like-minded
people all over the world.
FTLO is focused on group travel for young adults aged
25 to 39
years.
According to Allied Market Research, the
group travel market
in the Asia-Pacific region is expected to be worth
$689.5
billion by 2030. This market would grow at a CAGR of
6.0%
between the 2019-2030 forecast period.
Tourism South East reports that the group travel sector is an
integral and important
market within the travel, leisure, and tourism industry.
In the United Kingdom, about "
7 million
people take a coach tour holiday" yearly.
Claire Gilbert, the owner of Fine Tours and Cruises, states that “group travel is both
exciting and intimidating
,”.
From the perspective of travel agents and companies, Gilbert said:
“
it’s nice to have that much business
concentrated on one destination
and in a narrow timeframe".
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