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Discover essential steps and expert tips for creating a compelling, bookable travel trade product…
The term Travel Trade is a way of describing the working relationship, usually under contract, between any supply chain business, for example accommodation, attraction, transport, flights, experiences, etc and a buyer of services. Buyers are split into two main groups:
A buyer for the travel trade will buy and sell bookable products either through tours, experiences or holidays, normally direct to their clients and usually up to groups of 15.
The value of tourism to the UK is huge and is estimated to be worth £257 billion by 2027. It contributes over 7% of the UK’s GDP, with 80% of international visitors to the UK currently using tour operators to book to come here. The travel trade and inbound tourism has a positive impact on regional economies, being able to sustain and bring skilled jobs to the region. Data suggests that international tourism spend in the UK is due to grow 20% by 2027, in comparison with a UK average of 5% for the wider economy. Every customer through a tour operator is adding around 80% more revenue to a supplier’s sales figures.
International visitors are incredibly valuable to the North East, spending £400 million in the region in 2019. Working with the travel trade, will further aid the growth of this sector, supporting jobs and businesses across the region.
FIT can mean either Fully Independent Tour or Flexible Independent Traveller, which includes any type of travellers for example couples, individuals, families. These types of consumers within the travel trade will have booked through a tour operator, but will not be travelling on their visit as part of a group. The consumer’s visit, e.g. travel, accommodation, activities, attractions, guides, will have been arranged through a tour operator, giving these consumers the opportunity to take advantage of the knowledge and experience of the operator that they select.
The term groups means, when the consumer travels they will be travelling as part of a group. This group may be strangers, be part of a social group, an extended family, a couple or individuals. The groups will book onto a pre-arranged tour on sale by a tour operator. The group will arrive together, stay in the same accommodation and normally visit the same attractions and have the same experiences, whilst visiting a region. Group rates would need to be available.
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