latin america risingmedia.peru.info/impp/phocuswright27abril2015.pdf · latin america rising...
Post on 25-Aug-2020
2 Views
Preview:
TRANSCRIPT
Latin America RisingPresentation for PromPeru
Lima, Monday, April 26, 2015
Cees Bosselaar
PhoCusWright Global Sizing Methodology
What is the largest industry worldwide?
1. Automotive industry?2. Travel industry?3. Chemical manufacturing?4. Mining?
What is the largest industry worldwide?
1. Automotive industry: 8% of GDP2. Travel industry: 9% of GDP3. Chemical manufacturing: 7% of GDP4. Mining: 8% of GDP
How many people are employed in the travel industry?
1. 105 million?2. 175 million?3. 255 million?
How many people are employed in the travel industry?
1. 105 million2. 175 million3. 255 million! 1 out of 12 people
How many people travel outside their borders each year?
1. 580 million?2. 750 million?3. 900 million?
How many people travel outside their borders each year?
1. 580 million2. 750 million3. 900 million4. 1 BILLION
© 2015 Phocuswright Inc. All Rights Reserved. 9Source: Phocuswright’s Global Online Travel Overview Third Edition
The Global Travel Market in 2014:
US$1.3 trillion…
…And Rising
10© 2015 Phocuswright Inc. All Rights Reserved.
Source: Phocuswright’s Global Online Travel Overview Third Edition
…Across Six RegionsGlobal travel gross bookings share by region, 2014
27%
27%
25%8%
6%
7%
The Middle East
Eastern Europe & Russia
11© 2015 Phocuswright Inc. All Rights Reserved.
390
732
519
809
Emerging Markets* Developed Markets**
2011 20152011 2015
Notes: *Emerging markets include Eastern Europe, the Middle East, Latin America and Asia Pacific excluding Japan and Australia/New
Zealand. **Developed markets include Europe, the U.S., Japan and Australia/New Zealand.
Source: Phocuswright's Global Online Travel Overview Third Edition
Emerging Markets Will Contribute Nearly Twice as
Much to Global Gross Bookings Growth
Global gross bookings by market type, 2011-2015 (US$B)
12© 2015 Phocuswright Inc. All Rights Reserved.
-
200
400
600
800
1 000
1 200
1 400
2011 2012 2013 2014 2015
Total Market Online Market
Source: Phocuswright's Global Online Travel Overview Third Edition
Global Travel and Online Travel Gross
Bookings
2011-2015 (US$B)
13© 2015 Phocuswright Inc. All Rights Reserved.
Source: Phocuswright's Global Online Travel Overview Third Edition
The U.S. and Europe Account for Two Thirds
of the Global Online Travel MarketOnline travel share by region, 2014
35%
21%
31%
4%
6%
4%
The Middle East
Eastern Europe & Russia
14© 2015 Phocuswright Inc. All Rights Reserved.
Source: Phocuswright's Global Online Travel Overview Third Edition
But Emerging Markets are Growing Twice as
Fast…Online travel growth by region, 2014
8%
14%
9%
16%
25%
22%
The Middle East
Eastern Europe & Russia
Figure 1.1: Latin American Total and Online Travel Markets, Gross Bookings (US$B) and Compound Annual Growth Rates (%), 2012-2016
Note: CAGR calculated using U.S. dollars. Source: Latin American Online Travel Overview Second Edition
24.4
98.5
21.2
92.1
18.5
86.2
15.9
79.9
14.1
77.7
0 50 100 150
Online Market
Total Market
2012 2013 2014 2015 2016
6%
15%
Co
mp
ou
nd
An
nu
al Gro
wth
Rate
Figure 1.2: Online Travel Penetration by Region, 2013
Source: Latin American Online Travel Overview Second Edition
43% 42%
25% 23%20% 20%
10%
15%
20%
25%
30%
35%
40%
45%
Europe U.S. APAC EasternEurope
MiddleEast
LatinAmerica
Figure 1.3: Supplier Gross Bookings (US$B) for 2013 and Compound Annual Growth Rate (%) for 2012-2016
Note: CAGR calculated using U.S. dollars.Source: Latin American Online Travel Overview Second Edition
2.0
12.5
41.1
30.8
0 10 20 30 40 50
Car Rentals
Tour Operators
Hotels
Airlines 7%
6%
3%
3%
Co
mp
ou
nd
An
nu
al Gro
wth
Rate
Figure 1.4: OTA Gross Bookings (US$B) and Compound Annual Growth Rate (%), 2012-2016
Note: CAGR calculated using U.S. dollars.Source: Latin American Online Travel Overview Second Edition
6.0
6.5
7.4
8.5
9.7
2012 2013 2014 2015 2016
13%
Figure 1.5: Latin American Online Travel Market, OTA vs. Supplier Direct Share, 2013
Source: Latin American Online Travel Overview Second Edition
59%
41%
Supplier Direct OTA
Figure 1.6: Total Gross Bookings (US$B) for 2013 and Compound Annual Growth Rate (%) for 2013-2016
Note: CAGR calculated using U.S. dollars.Source: Latin American Online Travel Overview Second Edition
2.8
24.3
9.7
4.8
30.4
8.0
10%
8%
9%
9%
6%
5%
Peru
Mexico
Colombia
Chile
Brazil
Argentina Co
mp
ou
nd
An
nu
al Gro
wth
Rate
Figure 1.7: Total Online Gross Bookings (US$B) 2013 and Compound Annual Growth Rates (%) for 2013-2016
Note: CAGR calculated using U.S. dollars.Source: Latin American Online Travel Overview Second Edition
13%
15%
17%
22%
14%
20%
0.3
4.2
1.5
1.2
7.2
1.6
0.0 2.0 4.0 6.0 8.0
Peru
Mexico
Colombia
Chile
Brazil
Argentina Co
mp
ou
nd
An
nu
al Gro
wth
Rate
PhoCusWright’s Online Maturity Matrix
Source: Latin American Online Travel Overview Second Edition
Saturated Heated
Inhibited Untapped
On
line
Pen
etra
tio
n
Rate of Growth
Figure 1.8: Total Gross Bookings(US$B) by Market, CAGR and Online Penetration (%), 2013
Note: CAGR calculated for 2013-2016 using U.S. dollars. Source: Latin American Online Travel Overview Second Edition
10%
12%
14%
16%
18%
20%
22%
24%
26%
28%
5% 10% 15% 20% 25%
Online P
enetr
ati
on
Online Market: Compound Annual Growth Rate
Chile
$4.8
Argentina
$8.0
Mexico
$24.3
Peru
$2.8
Colombia
$9.7
Brazil
$30.4
Regional Baselines
Figure 1.9: OTA Gross Bookings (US$B) for 2013 and Compound Annual Growth Rate (%) for 2013-2016, by Market
Note: CAGR calculated using U.S. dollars. Source: Latin American Online Travel Overview Second Edition
1.0
2.9
0.4 0.21.8
0.1
10%
15%18%
24%
12%
24%
0%
5%
10%
15%
20%
25%
30%
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
OTA Bookings CAGR
Figure 1.10: Airline Gross Bookings (US$B) for 2013 and Compound Annual Growth Rate (%) for 2013-2016
Note: CAGR calculated using local currencies. Source: Latin American Online Travel Overview Second Edition
2.6 14.2 2.3 5.3 5.5 1.0
3%
5%
12%
9%8%
7%
0%
2%
4%
6%
8%
10%
12%
14%
0
2
4
6
8
10
12
14
16
Hotel Bookings CAGR
Figure 1.11: Hotel Gross Bookings (US$B) for 2013 and Compound Annual Growth Rate (%) for 2013-2016
Note: CAGR calculated using local currencies. Source: Latin American Online Travel Overview Second Edition
4.8 12.5 1.8 3.6 17.0 1.3
7%6%
7%
9% 9%
13%
0%
2%
4%
6%
8%
10%
12%
14%
0
2
4
6
8
10
12
14
16
18
Figure 1.12: Tour Operator Gross Bookings (US$B) for 2013 (US$B) and Compound Annual Growth Rate (%) for 2013-2016
Note: CAGR calculated using local currencies. Source: Latin American Online Travel Overview Second Edition
1.25.2 0.8 1.6 3.1 0.7
<1%
6%
2%
8%
5%
7%
0%1%2%3%4%5%6%7%8%9%
0
1
2
3
4
5
6
TO Bookings CAGR
Figure 1.13: Car Rental Gross Bookings (US$M) for 2013 and Compound Annual Growth Rate (%) for 2013-2016
Note: CAGR calculated using local currencies. Source: Latin American Online Travel Overview Second Edition
72
1 286
260
51
319
27
4%
5% 5%
4%
3%
6%
0%
1%
2%
3%
4%
5%
6%
7%
0
200
400
600
800
1 000
1 200
1 400
Car Rental Bookings CAGR
Figure 1.14: Latin American Supplier Gross Bookings, Share by Channel, 2013
Source: Latin American Online Travel Overview Second Edition
2%
1%
4%
25%
2%
4%
14%
11%
96%
95%
82%
64%
Tour Operators
Car Rentals
Hotels
Airlines
Direct Indirect Other
Figure 1.15: Latin American Supplier Gross Bookings, Share by Channel, 2016
Source: Latin American Online Travel Overview Second Edition
5%
4%
5%
30%
5%
7%
19%
16%
90%
89%
76%
54%
Tour Operators
Car Rentals
Hotels
Airlines
Online Direct OTAs Other
Take aways:
• LATAM total travel market is 7% of the global travel market
and grows by 6%
• LATAM online travel market is 4% of the global online travel
market and grows by 15%
Take aways:
• The global online travel penetration in Europe and the USA is
43%
• LATAM online travel penetration is 20%
Take aways:
• Brazil and Mexico are the largest markets and grow by 6% and
8%
• Colombia and Peru are the fastest growing online markets
with grow rates of 20% and 22%
TRENDS THAT AFFECT THE GROWTH
Mobile
Mobile pay
Beacons
New Entrants
Social media
Sharing economy
Business and leisure travel merge
Wearable devices
Millennials
Mobile
Mobile pay
Beacons
New Entrants
Social media
Sharing economy
Business and leisure travel merge
Wearable devices
Millennials
Mobile
© 2015 Phocuswright Inc. All Rights Reserved. 38
Mobile
41© 2015 Phocuswright Inc. All Rights Reserved.
42© 2015 Phocuswright Inc. All Rights Reserved.
47% Own Each of These
43© 2015 Phocuswright Inc. All Rights Reserved.
44© 2015 Phocuswright Inc. All Rights Reserved.
45© 2015 Phocuswright Inc. All Rights Reserved.
DestinationSelection Shopping
Booking
Sharing
22%21%
12%15%
35%34%
19% 41%
82%82%
81%57%
Tablet
Smartphone
Desktop
Base: U.S. online travelers who own smartphones (N=1,658)
Source: Phocuswright's Traveler Technology Survey 2013
More U.S. travelers use mobile
before and after bookingTraveler use of devices across the trip life cycle
46© 2015 Phocuswright Inc. All Rights Reserved.
vs.
47© 2015 Phocuswright Inc. All Rights Reserved.
OTA19%
11%
Mobile Web AppNote: Data represents SMARTPHONE activity only; research based on 1,232,473 mobile website and application sessions collected on
smartphones and tablets from 1,026 U.S. leisure travelers, June 1-June 30, 2014.
Source: Phocuswright Inc.
48© 2015 Phocuswright Inc. All Rights Reserved.
13% app
18% mobile web
Note: Data represents SMARTPHONE activity only; research based on 1,232,473 mobile website and application sessions collected on
smartphones and tablets from 1,026 U.S. leisure travelers, June 1-June 30, 2014.
Source: Phocuswright Inc.
New Entrants
© 2015 Phocuswright Inc. All Rights Reserved. 50
Disruptors or Distractions?
Sharing Gets Real
© 2015 Phocuswright Inc. All Rights Reserved. 52
Welcome to the Sharing Economy
Storage: $200 ayear
Extra parking spot: $100 a year
Lawn mower:$20 a day
Dog: $10 a walk
Boat: $250 a dayCar: $50 a day
Bike: $10 a day
Guitar: $50 a weekPower tools: $20a day
Source:
Extra room: $75 a night
© 2015 Phocuswright Inc. All Rights Reserved. 55
56© 2015 Phocuswright Inc. All Rights Reserved.
Source: Phocuswright's Share This! Private Accommodation & the Rise of the New Gen Renter
17%
83%
Renters
Non-renters
17% of U.S. leisure
travelers rented in
2013. That’s 22
million renters.
U.S. Traveler
Population
57© 2015 Phocuswright Inc. All Rights Reserved.
17%
83%
Renters
Non-renters
Source: Phocuswright's Share This! Private Accommodation & the Rise of the New Gen Renter
U.S. Traveler
Population
So how about
that other 83%?
58© 2015 Phocuswright Inc. All Rights Reserved.
Source: Phocuswright's Share This! Private Accommodation & the Rise of the New Gen Renter
Three Key Issues:
1. Awareness
2. Trust
3. Hotel services and
amenities
© 2015 Phocuswright Inc. All Rights Reserved. 59
Renting’s Future:
The Unique Experiences of These…
© 2015 Phocuswright Inc. All Rights Reserved. 60
…with the Hospitality and
Conveniences of These
Source: Google Images
The Business Traveler’s
New Charge
The lines between
business and leisure
travel behavior are
blurring
Bizcation?
Call it what you will, this add-on to business trips is here to stay
Bleisure?
64%
=4 days
Source: Phocuswright's Traveler Technology Survey, 2014
60%
And how they are
traveling is changing
© 2015 Phocuswright Inc. All Rights Reserved. 66
What about private accommodation?
Should hotels be worried?
© 2015 Phocuswright Inc. All Rights Reserved. 67
2013 2014 2015
Source: Phocuswright's U.S. Online Travel Overview Thirteenth Edition
Maybe Not… The U.S. Hotel Market
is Stronger Than Ever, but…U.S. hotel and lodging room revenue
© 2015 Phocuswright Inc. All Rights Reserved. 68
Source: Phocuswright's Traveler Technology Survey, 2014
Maybe Not… The U.S. Hotel Market
is Stronger Than Ever, but…
More than one in
five business
travelers have used
a rental in 2014
This…
is giving way
to this…
And this…
is giving way
to this.
Ride-sharing
Car-rental sharing
Pre-arranged transportation
On-demand car rental
73© 2015 Phocuswright Inc. All Rights Reserved.
The
Millennial
War
#8
74© 2015 Phocuswright Inc. All Rights Reserved.
Why are
millennials so
important?
75© 2015 Phocuswright Inc. All Rights Reserved.
SPENDING
POWER
76© 2015 Phocuswright Inc. All Rights Reserved.
Source: U.S. Census Bureau
25% of U.S.
population
80 million U.S. consumers were born between 1977 and 2000, making the millennial generation
bigger than Baby Boomers and Generation X
77© 2015 Phocuswright Inc. All Rights Reserved.
0%
20%
40%
60%
80%
18-24 25-34 35-44 45-54 55-64 65+ Average
Source: Phocuswright's Consumer Travel Report Sixth Edition
And more of them travel
(especially older millennials)Percent of U.S. adults who travel, by age, 2013
78© 2015 Phocuswright Inc. All Rights Reserved.
• Source: Phocuswright's Consumer Travel
Millennials are twice as likely to take
long trips (14 nights or longer)…
79© 2015 Phocuswright Inc. All Rights Reserved.
• Source: Phocuswright's Consumer Travel Report Sixth Edition
…and 42% of millennials traveled
internationally in 2013 (compared to only 28% of older travelers).
80© 2015 Phocuswright Inc. All Rights Reserved.
They are passionate
for travel.
Source: Phocuswright's Share This! Private Accommodation & the Rise of the New Gen Renter
81© 2015 Phocuswright Inc. All Rights Reserved.
They seek unique,
authentic experiences
82© 2015 Phocuswright Inc. All Rights Reserved.
But before you get
your hopes up…
Source: Phocuswright's Share This! Private Accommodation & the Rise of the New Gen Renter
83© 2015 Phocuswright Inc. All Rights Reserved.
$3 217$3 381
Millennials Older travelers
Annual Leisure Travel Spend
…they don’t spend
quite as much.
• Source: Phocuswright's Consumer Travel Report Sixth Edition
84© 2015 Phocuswright Inc. All Rights Reserved.
More travel but less total
spend means millennials
are…
85© 2015 Phocuswright Inc. All Rights Reserved.
…a lot less likely to stay here…
Source: Phocuswright's Consumer Travel Report Sixth Edition
86© 2015 Phocuswright Inc. All Rights Reserved.
6 in 10 stayed with
friends and
family when
traveling in
2013
…and more likely to stay here.
• Source: Phocuswright's Consumer Travel Report Sixth Edition
87© 2015 Phocuswright Inc. All Rights Reserved.
Millennials are also
demanding, and much more
likely to book last minute.
88© 2015 Phocuswright Inc. All Rights Reserved.
23% of millennial travelers booked their last
trip less than one week before departure
Only 12% of
older travelers
did the same
89© 2015 Phocuswright Inc. All Rights Reserved.
They are less motivated by
these…
Source: Phocuswright's Consumer Travel Report Sixth Edition
90© 2015 Phocuswright Inc. All Rights Reserved.
85% of millennials “…always check multiple websites
to make sure they get the best deal”
…and much more likely to make their
travel decisions here.
Source: Phocuswright's Consumer Travel Report Sixth Edition
91© 2015 Phocuswright Inc. All Rights Reserved.
Millennials may not be
your core audience today,
but they will be, when
they reach their peak
earning and
spending years.
Now is the time to build
relationships, as they
engage brands, form
perceptions and develop
travel habits and
preferences.
92© 2015 Phocuswright Inc. All Rights Reserved.
Destinationselection Shopping
Booking
6%11%
5%
36%37%
23%
Older travelers Millennials
Source: Phocuswright’s Traveler Technology Survey 2013
And mobile is a good place to start.Millennial and non-millennial travelers who use smartphones by trip planning phases, 2013
© 2015 Phocuswright Inc. All Rights Reserved. 93
94© 2015 Phocuswright Inc. All Rights Reserved.
Cees Bosselaar
Director Business Development &
Destination Marketing Specialist
cbosselaar@phocuswright.com
Thank you!
top related