The driving vacation market is on an unstoppable upward trajectory, predicted to reach a phenomenal $513.3 billion by 2031. This astronomical growth is driven by a surge in disposable income, an increasing preference for personalized travel experiences, and a growing appetite for unique holiday adventures. Key market players are capitalizing on this demand by offering customized road tours and expanding into emerging regions, particularly in the Asia-Pacific.
The International Pow Wow (IPW) 2024, held in Los Angeles from May 3-7, has attracted thousands of participants from over 70 countries, including tourism professionals, buyers, and media representatives. The convention provides opportunities for networking, business appointments, educational seminars, and showcases of U.S. travel destinations and businesses. IPW 2024 is expected to contribute to future international travel to the U.S. and reinforce the Los Angeles Convention Center as a hub for international cooperation within the travel industry.
SalamAir, Oman’s low-cost carrier, will participate in the upcoming Arabian Travel Market (ATM) 2024 in cooperation with the Ministry of Heritage and Tourism of Oman. The airline aims to enhance Oman’s visibility as a premier travel destination and showcase its services to attendees from around the globe. SalamAir’s participation aligns with Oman’s vision of attracting more tourists to its diverse and picturesque environments.
OsaBus, a leading transportation provider, has achieved the esteemed IATA accreditation, demonstrating its adherence to the highest standards in the travel industry. This achievement underscores OsaBus’s commitment to excellence and its ability to provide comprehensive travel solutions that seamlessly integrate air travel.
Miki Reps and its Balkan collaborators organized a successful Balkans Roadshow 2024 in Tokyo, Seoul, and Hong Kong from April 22 to April 26. The event connected Balkan representatives with travel industry experts in Asia. Around 90 participants engaged in presentations, networking, and discussions about the latest Balkan tourism trends, showcasing the region’s diverse travel experiences, from UNESCO sites to culinary delights.
This case study analyzes the implementation and significance of subscription-based travel platforms within the travel and tourism sector. It examines various applications across multiple sectors such as airlines, hotels, and Online Travel Agencies (OTAs), and evaluates the challenges and opportunities these platforms encounter. The report includes key highlights on the impact and potential of subscription models in the travel industry.
Viking Holdings Ltd. (Viking) has disclosed the pricing details for its expanded initial public offering (IPO), which will encompass a total of 64,041,668 ordinary shares offered at $24.00 per share. Viking will offer 11,000,000 ordinary shares, while selling shareholders will offer 53,041,668 ordinary shares. The selling shareholders have granted a 30-day option to the underwriters to acquire up to 9,606,248 additional ordinary shares for potential over-allotments. Viking will not receive any proceeds from the sale of shares by the selling shareholders. The ordinary shares are expected to commence trading on the New York Stock Exchange on May 1, 2024, under the symbol “VIK.” The offering is anticipated to close on May 3, 2024, subject to customary conditions. BofA Securities and J.P. Morgan are acting as joint lead underwriters, with UBS Investment Bank and Wells Fargo Securities serving as lead book-running managers. HSBC and Morgan Stanley are participating as bookrunners, while Rothschild & Co, Stifel, Drexel Hamilton, LLC, Loop Capital Markets LLC, and R. Seelaus & Co., LLC are acting as co-managers.
Siddharth Mehta has been appointed as the new Vice President of Supply for FCM Travel India. With over 25 years of experience in the travel sector, Mehta is a highly respected innovator and leader who has consistently driven revenue growth and team development. He has held senior positions at travel management companies, global distribution systems, airlines, and online travel agencies. Mehta is excited to join FCM Travel India, a company known for its exceptional customer service and industry-leading client retention rates.
China’s travel sector is back in the spotlight as ITB China 2024 gears up to welcome over 600 exhibitors and 1,000 buyers in Shanghai from May 27-29. With a focus on rebuilding the industry, the event showcases a vast range of travel offerings, including leisure travel, MICE, business travel, and technology. The conference agenda features insights from industry experts on emerging trends and the recovery of China’s travel market, while networking events provide ample opportunities for business connections.
The 2024 WTM Latin America concluded with significant growth, including an 8.1% increase in attendees to 29,247. The exhibition space expanded by 20% to 7,393 square meters, showcasing 797 brands, a 28% increase from last year. The ConnectMe platform facilitated 6,903 scheduled meetings, an 8.5% rise. The event featured 54 conferences, training sessions, and Speed Networking events. The new Diversity Route highlighted 20 projects focusing on inclusive tourism. First-time participants included Tanzania Tourist Board, Belize Tourism Board, TAAG Angola Airlines, Cayman Island, and Guatemala. Brazilian representation was strong, with newcomers like Campos do Jordão, Joinville, and Fortaleza. The next WTM Latin America is scheduled for April 14th to 16th, 2025.
