Customised Holidays Industry Outlook

Customised Holidays – Factors and Trends Influencing Travel Customisation: Analysis & Perspective

  • Ongoing
  • October 2020
  • REP-GB-2991
  • Format: PDF/PPT/Excel
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This Customised Holidays Industry Outlook market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Customised Holidays Industry Outlook market.

With the rapid evolution of the travel industry along with a rise in disposable income, a new class of global travellers has emerged who don’t mind to pay more for their travel, but vie for a memorable experience while travelling as per their individual tastes and likes and dislikes. It is for such a class of travellers that the travel industry has come up with the idea of customised holidays. Customised holidays are designed to suit the tastes and needs of a particular individual traveller or a group of travellers where they are the ones who decide the places they are going to visit, the duration of stay at each place, even the type of food they want to have and the hotel they want to stay in. Customised holidays are tailor made to suit the preferences of travellers unlike guided tours where everything is pre-decided and pre-fixed.

Customised Holidays: Drivers and Restraints

A rising affluent and middle class is giving rise to a new type of travellers who seek personalised experiences suited to their tastes and preferences, giving rise to customised holidays. Rising disposable incomes and economic growth in the world are the major drivers for the rising preference of and inclination towards customised holidays. The main restraint to the spread of customised holidays is the high costs associated with it that all travellers cannot afford.

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Customised Holidays: Description   

Tailor-made holidays or customised holidays are popular in the tourism and travel sector as they cater to the individual tastes and demands of travellers and don’t follow the philosophy of one size fits all, which is the idea on which packaged tours and guided tours work, where everything is decided in advance. In a customised holiday, on the other hand, everything is decided by the traveller and the tour schedule is fixed as per the choices of the travellers themselves. Travellers send an initial request for proposal, in which they contact the chosen travel company even eight to nine months before the date of actual travel. The traveller gives the travel dates, number of persons in the group, length of the journey, and the places that the traveller wants to see. Based on this information, the travel company prepares a draft itinerary and discusses the details with the traveller and also gives a rough cost estimate.

Based on subsequent discussions between the traveller and the travel company, and taking into consideration the special requests made by the traveller, the final travel itinerary is finalised and the customer is ready to enjoy a customised holiday. A planning fee is charged by the travel company, which is automatically credited to the final payments made by the travellers for their trip. It is to be noted that safaris, cruises and other specialised trips may require a higher planning fee.

Customised holidays are gaining in popularity due to the fact that they are highly personalised and don’t follow any set pattern. A sample tour itinerary can be provided by the travel company to give the traveller an idea about what they wish to experience. However, the entire journey from the start to the end is decided by the traveller and it is their own choice about which place they want to stay more in as per their own travel itinerary and even the type of hotels they want to stay in and the mode of transportation they would like to prefer. Customised holidays are gaining in popularity due to their unique tailor-made approach that suits the needs of the individual or the group of travellers and gives them the type of holiday that they prefer. 

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report. 

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

What Can Readers Expect from this Report?

  • An overview of the sector, including the key factors that have shaped patterns and demand
  • Not just data, but insights that you can incorporate in your strategic decision making
  • Nuanced underlying factors that influence consumer behaviour
  • Data points to understand the past, analyse the present, and project the future
  • Trends that will impact the sector in the short- and long-term
  • Deeper understanding of the target audience, their motivations, aspirations, and expectations from service providers

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Customised Holidays Industry Outlook

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions

What research methodology is used to develop the Customised Holidays Industry Outlook report?
  • FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
  • These approaches include accumulating data from both primary and secondary sources
  • Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Customised Holidays Industry Outlook. This is supported by a comprehensive literature analysis of information gathered through secondary sources
  • Analysis of several middle market stakeholders for country-wise data

In addition to up-to-date market figures and customized of the Customised Holidays Industry Outlook, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.

  • Most of the competitors are segregated according to their market share in 'Tier' wise statures.
  • Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.
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