phocuswright.com - 10 Minutes News for Hoteliers - Page 9

1 min

The labor shortage should be over, so why are we still worried?

🔔 U.S. Leisure & Hospitality sector added 8 million jobs since April 2020, reaching 16.9 million employed by April 2024, yet travel industry unemployment remains at 6%. Over 1 million job openings were reported in Accommodation in May 2024, despite a 7% decline in accommodation employees since March 2019, contrasting a 16% increase in room revenue. Between 2019 and 2024, hotel industry employees decreased by 7%, hourly salary rose by 32% (from $17.98 to $23.76), and room revenue grew by 16% (from $167.9B to $195.5B).

3 min

The travel industry payment gap

The travel industry historically struggles with emerging trends and technologies, and payments is no different. Throughout the globe, local payment methods provide competition and complexity for travel suppliers and intermediaries…

0 min

Platforms, topics and influencers: Who’s using what?

1 min

Travel Startups Interactive Database

📊 Discover, sort, and filter companies by criteria such as founded year, total funding, and HQ location. Analyze competitive sets, funding rounds, acquisitions, and IPOs. Utilize data presets like "Core travel verticals" for market insights. Interactive charts visualize founding and funding trends, while individual company and investor trends offer investment opportunities and market analysis.

3 min

Decisions guided by trust: Social media conversion in travel

Being a content creator is a lot of work. There’s demand for reoccurring content, constant feedback, the joys of virality, the crush of a single negative comment. But for content…

2 min

The top 15 global travel markets: North America, APAC and Western Europe lead the way

The global travel industry is back on track, surging by 24% in 2023 to hit $1.5 trillion. North America, APAC and Western Europe continue to lead in terms of market…

3 min

Some segments have a higher propensity to be swayed by social content

Social networks are awash with travel content, but a formula for conversion continues to evade marketers. The term “funnel” evokes imagery of customers cascading from brand awareness to purchase and…

1 min

An overview of the Europe startup landscape

Phocuswright has tracked the travel startup landscape for over fifteen years. During this time, the digital travel ecosystem has undergone tremendous transformation. With over 8,000 travel startups tracked in Phocuswright’s…

2 min

The true impact of social strategy

📌 A majority of travelers, 57%, use social media for trip planning and sharing, with 75% under 35 and 35% aged 55+ engaging in this behavior. Travelers aged 35-54 show a significant usage rate at 63%. Content sharing is popular, with 62% of social users posting about their trips. Travel content on social media influences 62% of users in their trip decisions. Cruise travelers exhibit the highest social media usage for planning, while lodging content is less viewed despite two-thirds of users researching it.

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Traveler profile in major European markets

📃 Phocuswright offers a comprehensive library of travel research through its Open Access research subscription, providing industry insights for over 25 years. Clients utilize this data to support decision-making, strategic planning, and presentations. Explore Phocuswright's free research or sign up for updates at their website.

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