Tag Archives: GlobalData

Thomas Cook India Limited (TCIL) is set to expand its customer base as it successfully targets both online and offline channels, and by capitalizing on its branch network, which is the company’s primary competency and a significant contributor to sales and profits, says GlobalData, a leading data and analytics company. GlobalData’s latest Report, ‘Case Study: Thomas Cook (India) Limited (TCIL)’, reveals how TCIL is marrying its online and offline channels to drive sales of trips and additional services. Akshat Sharma, Travel and Tourism Analyst at GlobalData, comments: “GlobalData Q4 2021 Consumer Survey* reveals that 25% of Indian respondents reported booking holidays through the online channel, while 5% reported booking holidays in store. As TCIL is well established online, it is able to cater to this preference. With its 160+ store network, it is also well-placed to attract customers who prefer to book in person by visiting its physical stores.” Sharma continues: “A key part of the company’s strategy is to use the online channel to supplement its offline operations. For example, many of its customers book travel packages online, and then the company invites them to visit its stores for additional value-added services such as forex, insurance, and visa application assistance.” Customers are first engaged online by TCIL before they are transferred to the company’s physical stores for these additional services. Those looking for a store to book their vacation can also take advantage of TCIL’s range of services in one location. This multi-channel strategy is expected to increase both internet traffic and brick-and-mortar sales. Customers who have previously interacted with TCIL will continue to do so, avoiding visits to multiple agents for different services. Sharma concludes: “While the company …

A total of 73 deals comprising mergers & acquisitions, private equity, and venture financing were announced in the global travel and tourism sector during July 2022, which is a decline of 39.2% over 120 deals that were announced in June 2022, according to GlobalData 

According to GlobalData’s latest forecasts, on a global scale, international departures will reach 68% of pre-COVID levels in 2022. This is expected to improve to 82% in 2023, and 97% in 2024, before fully recovering by 2025 at 101% of 2019 levels.

According to GlobalData, a total of 73 deals comprising M&A, private equity, and venture financing were announced in the global travel and tourism sector during May, which is a growth of 1.4% over 72 deals announced in April 2022. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Although this is a marginal growth, it has reversed the decline that the sector has been witnessing for the past few months. This growth is mainly driven by the improvement experienced in the Asia-Pacific region, as deal activity declined in May in other key regions such as North America and Europe compared to the previous month.” The number of deals announced in the travel & tourism sector in the Asia-Pacific region increased from 10 in April 2022 to 17 in May 2022, while Europe and North America witnessed a decline in deal activity by 10% and 10.7%, respectively. Bose continues: “Within Asia-Pacific, India, Australia, and China registered a month-on-month improvement in deal activity in May. Meanwhile, deal activity declined in several key global markets including the US.” The number of venture financing and private equity deals also decreased by 39.1% and 9.1% in May compared to the previous month, respectively, while M&A deals volume increased by 28.9%.

Findings from a study by GlobalData reveals that as luxury travellers resume travelling both domestically and abroad post-pandemic, they may begin to seek experiences that are more immersive and exceptional than in previous years. With travellers determined to make up for lost time, 2022 could see an increase in holiday budgets for luxury travellers, with an uptick in demand for ‘once in a lifetime’ adventures. 

As per GlobalData, COVID-19 has accelerated the need for companies in the travel and tourism industry to rapidly invest in digital strategies, including the global online travel market, which is expected to grow at a compound annual growth rate (CAGR) of 8% between 2022 and 2025 to reach $765.3 billion. If companies do not engage in a strong digital strategy, their competitors will gain a larger portion of the market, warns the analytics firm