The tourism industry is now entering the era of niche-markets. But what kind of niche markets? The Tourism Authority of Thailand (TAT) Marketing Plan for 2014 clearly shows the directions ahead. Here is an exclusive Lookeast compilation of some emerging niche-markets from key countries.
Other target markets are the: 1) silver market, the increasing number of retirees over 65, with a population of 28.74 million; 2) the female market aged 20-40, with a population of 23.782 million, who enjoy shopping and find Thailand good value for money and a large segment which enjoys going for the luxury products; 3) the family market, with a population of 11.10 million households, also in search of good value for money; and 4) Wedding & Honeymoons, aimed at an estimated 706,000 couples who get married every year.
Many change are also taking place in Chinese travel consumer behavior, e.g.: 1) Online booking is new trend; 2) Direct booking thru website of airlines, hotels and tourism attractions; 3) Prefer go shopping by self instead of forced shopping by tour guide; 4) Tourist repeater prefers travel as FIT instead of group tour; 5) Prefer to stay in hotel/resort to enjoy facilities and relax instead of tight tour schedule; 6) More high-end consumers join hotel membership and stay in international chain hotels abroad; 7) High spending for local handicrafts instead of brand items; 8) Try to experience local culture and life instead of just taking pictures.
The silver-age population is estimated at 6.59 million people, or about 14.5 percent of total Korean population. In addition, business travelers are also set to grow as the economic links between Korea and Thailand expand.
In addition, there is one rapidly emerging market, the so-called “Black Diamond” market. These visitors are those who have benefitted from the Black Economic Empowerment, a programme launched by the SA government to rectify the inequalities of apartheid and raise the economic status of previously disadvantaged South African groups. This has succeeded for many black South Africans. Their interest in travel on the rise, with a strong focus on shopping and culture.
Brazilians traveling these long distances certainly have the means to travel and are either business people or those with a higher disposable income. Potential products for those these travelers go beyond the well-visited Phuket, Bangkok, and Chiang Mai. Brazilian consumers are said to be television-addicted and highly influenced by TV programs, especially cooking shows.
The French film, Largo Winch II, was shot in Thailand, with many backdrops of scenic views and luxury hotels. Luc Besson, a well-known French and Hollywood film director and producer, used Thailand to shoot his film “Dans la Lumiere (In The Light)” starring Michelle Yeoh.
All this leads to considerable exposure both directly to the consumer as well as within the media industry by word-of-mouth marketing.
Another target is the Australian Health and Wellness sector. Australia’s aging population is set to grow from 1.4m to 2.4m in 2030. Medical tourism is viewed as a “healing” treatment and will continue to grow strongly. Health and wellness, which is seen as “prevention” treatment, will also see strong growth as seniors look for healthier ways to live longer and maintain their health.
According to research cited in the TAT marketing reports, the LGBT spend on travel in the U.S. alone amounts to $78 billion, up 7% despite an economic slowdown; 79% have a college education; and 84% are heavy internet users. They are also known to prefer luxury travel as well as countries with “progressive policies toward LGBT people.”