of Asian travellers, with 51 per cent indicating that it would impact their holiday plans, compared to 44 per cent globally. Despite this, those affected are still planning to travel; of those travellers that say currency fluctuation will impact them, 53 per cent global respondents and 53 per cent of Asian respondents will research more to find the best price.
However, global hoteliers place higher importance on online reviews than price in terms of influencing travellers’ booking decisions. Similarly, Asian hoteliers perceive online reviews (61 per cent) to have the biggest impact when travellers book accommodation, followed by price (55 per cent) and recommendations from friends and family (39 per cent). The results suggest that although hoteliers know price is an important factor, they believe that the room rate combined with a good online reputation will ultimately influence travellers’ booking decisions.
Looking ahead at the next 12 to 24 months, Europe tops the list of places global travellers plan to visit (46 per cent ), followed by Asia (39 per cent) and North America (32 per cent). The US (28 per cent) tops the list of ‘dream’ destinations for Asian travellers to visit in the next 12 to 24, followed by Italy (27 per cent) and Australia (26 per cent).
Marc Charron, president, business, TripAdvisor, said, “Exploration is back on the agenda in 2014, with more travellers planning international trips this year. TripBarometer offers up insights into the needs and behaviours of consumers in today’s rapidly changing travel marketplace, providing valuable insights for hospitality businesses looking to attract new audiences. Travellers are upping their budgets but they are looking for bargains, expecting their accommodation of choice to deliver on value. Special offers, complimentary amenities and exceptional service are all going to be important factors in swaying potential guests.”
The increase in travel budgets and travel plans is mirrored in business confidence with 70 per cent of global hoteliers saying they are optimistic about their profitability in the next year (up from 67 per cent in 2013). In comparison to the global average, Asian hoteliers seem less positive, with 63 per cent claiming they are optimistic about their profitability in the next year (down from 72 per cent in 2013). Over half (55 per cent) of Asian hoteliers are also planning to increase room rates with 47 per cent saying this is due to increased overheads.