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NEW YORK , Nov. 25, 2024 /PRNewswire/ --The global travel market size is estimated to grow by USD 5.50 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 18.52% during the forecast period. Growing popularity of experiential travel is driving market growth, with a trend towards increasing international tourist footfall. However, threat from growing terrorism poses a challenge. Key market players include Accor S.A., American Express Global Business Travel GBT, Balkan Holidays Ltd., BCD Travel Services BV, Booking Holdings Inc., Carlson Inc., Corporate Travel Management Ltd., Expedia Group Inc., Fareportal Inc., Flight Centre Travel Group Ltd., G Adventures, JPMorgan Chase and Co., JTB Corp., MakeMyTrip Ltd., Marriott International Inc., Omega World Travel Inc., PT Global Digital Niaga, Traveloka, The Scott Travel Group Ltd., Travel Leaders Group Holdings LLC, World Travel Holdings, and World Travel Inc., Airbnb, Inc., Hilton Worldwide, InterContinental Hotels Group (IHG), Hyatt Hotels Corporation, Carnival Corporation, Royal Caribbean Group. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Travel Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 18.52% Market growth 2024-2028 USD 5506.7 billion Market structure Fragmented YoY growth 2022-2023 (%) 15.17 Regional analysis APAC, Europe, North America, South America, and Middle East and Africa, Performing market contribution APAC at 39% Key countries US, France, China, UK, and Japan, Spain, Italy, Germany, Thailand, Australia Key companies profiled Accor S.A., American Express Global Business Travel GBT, Balkan Holidays Ltd., BCD Travel Services BV, Booking Holdings Inc., Carlson Inc., Corporate Travel Management Ltd., Expedia Group Inc., Fareportal Inc., Flight Centre Travel Group Ltd., G Adventures, JPMorgan Chase and Co., JTB Corp., MakeMyTrip Ltd., Marriott International Inc., Omega World Travel Inc., PT Global Digital Niaga, Traveloka, The Scott Travel Group Ltd., Travel Leaders Group Holdings LLC, World Travel Holdings, and World Travel Inc., Airbnb, Inc., Hilton Worldwide, InterContinental Hotels Group (IHG), Hyatt Hotels Corporation, Carnival Corporation, Royal Caribbean Group Market Driver Inbound tourism has experienced significant growth worldwide, leading to an increase in the number of tourists and demand for travel activities. Business travel, both international and domestic, is a significant contributor to this trend. The presence of numerous multinational corporations drives corporate visits, boosting the travel industry. Online travel platforms cater to the rising demand for travel activities from an increasing number of international tourists, primarily from North America , Europe , and the Pacific region. Government initiatives, such as improved connectivity through new airports, further fuel tourism growth. Overall, these factors are expected to expand the global travel market during the forecast period. The travel industry is experiencing significant shifts driven by trends such as the growing middle class population, heightened security and health concerns, and the increasing role of foreign tour operators and online platforms. Digital transformation is at the forefront, with tourists relying on online resources for trip planning, booking flight tickets and hotels, and even renting cars. Economic stability and leisure activities continue to be key motivators for vacations and holiday packages. The pandemic has created an acquisition opportunity for online travel agents, with promotional activities and new year holidays driving bookings. Mobile apps and holiday packages for international cities cater to elite travelers seeking new experiences in unexplored destinations. The luxury travel market remains strong, with a focus on security and personalized services. Overall, the online travel market is thriving, offering tourists convenience, affordability, and access to a world of new opportunities. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This travel market report extensively covers market segmentation by 1.1 Transportation- The Travel Market is a thriving industry that connects service providers with customers seeking unique travel experiences. It offers various opportunities for businesses to expand their reach and increase sales. By utilizing effective marketing strategies and providing exceptional customer service, companies can attract and retain customers. The Travel Market also encourages innovation and collaboration, allowing businesses to offer competitive prices and diverse offerings. Overall, it is a dynamic and profitable sector that continues to grow and evolve. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The online travel market has experienced significant shifts in the wake of the pandemic, with a growth in domestic tourism and an increase in bookings for New Year holidays. Mobile apps have become essential tools for travelers, allowing them to easily compare holiday packages, book flights, hotels, car rentals, and more. The adoption of IoT technology in the tourism sector offers new experiences and personalized services, creating opportunities for innovation. However, political instability, natural disasters, and stringent immigration policies pose challenges. The acquisition of smaller players in the online travel market presents opportunities for growth, particularly in the luxury travel market catering to elite travelers. Unexplored destinations and micro trips are also gaining popularity as travelers seek new experiences. Business and sports travel are expected to rebound as restrictions ease. Despite these trends, the tourism sector continues to face uncertainty and must adapt to changing consumer preferences and external factors. Market Research Overview The online travel market has seen a significant growth during the pandemic as people look for acquisition opportunities in the tourism sector. Domestic tourism has become a popular choice for travelers, leading to an increase in bookings for new year holidays. Mobile apps and online travel agents offer convenience for holiday packages, car rentals, and international city explorations. The luxury travel market caters to elite travelers seeking new experiences in unexplored destinations. Micro trips and personalized services are also in demand, as is reliable transport and professional interaction. Political stability, customized tours, and private tours are essential for some travelers, while others prioritize baby boomers, Gen X, and millennials' preferences. Technological advancements, such as the adoption of IoT, have transformed the industry, with online booking platforms, travel websites, and rapid globalization playing key roles. However, challenges such as political instability, natural disasters, and stringent immigration policies persist. Business, sports, and leisure activities continue to drive travel, with economic stability and infrastructure development crucial for the tourist industry's digital transformation. Online resources, flight tickets, hotels, and trip planning remain essential, with health and security concerns also influencing travel decisions. Foreign tour operators and online platforms cater to various tourist destinations, while influencer marketing, travel blogs, and user-generated content shape travel trends. Country revenue depends on public transportation, accommodation facilities, and the middle class population's growing demand for travel. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia: https://www.prnewswire.com/news-releases/travel-market-size-is-set-to-grow-by-usd-5-50-trillion-from-2024-2028--growing-popularity-of-experiential-travel-boost-the-market--technavio-302314953.html SOURCE Technavio
Michael Daniel has developed an app aimed at bridging the communication gap for people with . or signup to continue reading It's called the NeuroTranslator, and it quickly achieved viral status when it was launched online in November. The 34-year-old father of three from Newcastle only recently discovered that he was autistic. The diagnosis was life-changing. "My journey toward understanding that I was autistic started with my eldest daughter. As she grew into toddlerhood, I noticed certain unique traits and behaviours that felt extremely familiar - things I distinctly remembered doing myself as a child," he explains. "About a year ago, a family friend gently suggested that my daughter might be autistic. I didn't think too much about it at the time, but one day, while visiting the local library, I came across by Jenara Nerenberg. I picked it up, thinking it might offer some helpful parenting insights for my wife and I. "That night, after everyone was asleep, I stayed up reading. As I turned the pages, I felt a wave of emotion wash over me. Every story, every experience described, resonated so deeply. "I got goosebumps all over my body as it felt like the pieces of my life all fell into place. In that quiet moment by myself, I realised - I'm autistic. It was a life-changing realisation that helped me better understand myself." Looking back at his life through a different lens explained so much. "Being autistic means having a brain that's wired differently, so it has shaped literally every decision I've made throughout my life, often in ways I didn't fully understand," Daniel says. "Growing up, I always sensed that I thought differently, but society isn't always accepting of those who don't fit the norm. In response, I subconsciously developed what's known as a 'mask' - adopting behaviours that felt more socially acceptable to blend in and gain acceptance. "This experience is common among autistic individuals, especially those who don't fit the narrow, stereotypical portrayals often seen in media (think Sheldon Cooper from ). But autism is highly individual." He quotes a saying - "If you've met one autistic person, you've met one autistic person" - which he says explains how autistic traits vary, sometimes dramatically, from person to person. "After discovering that I was autistic, it felt like the process of unmasking kicked in automatically. I was eager to find the 'real me'," Daniel says. "What I didn't expect was that my brain would seemingly shut off in some areas, and I'd lose skills that had always felt second nature. It was as if the mask I had worn for years to navigate life had come off - but what lay beneath felt unfamiliar, even to me." It was a tumultuous time for the Daniel family. "I didn't recognise myself, and neither did my wife. We found ourselves speaking completely different languages, trapped in a cycle of constant misunderstandings," he says. "I'd say something with a completely different intention to how it was interpreted. Every misunderstanding seemed to trigger more emotional pain, creating a rift in our marriage that at times felt impossible to bridge. "It was that pain that drove me to create my own AI assistant. I needed something that could get me out of my own head and help me process interactions I didn't fully understand, especially in emotionally charged situations. "The AI became a lifeline, helping me break down and work through what would've taken me days to process on my own." An incident at his workplace was the final straw. In a Zoom meeting, his employer told him that the company no longer needed a full-time data analyst and that he was being "let go". "I completely misread the situation," Daniel says. "I didn't pick up on the seriousness in his facial expressions and, thinking he was joking, I burst out laughing. A moment later, HR joined the call, and that's when it hit me. It wasn't a joke. It was one of the most awkward moments of my life. "After the meeting, still reeling, I decided to release the AI tool I'd built for myself publicly for free. I thought, 'I can't be the only one going through this and if it helps even two or three people like me, that would be something good to come out of it'. "I spent the rest of the day building a simple website and posted about it on Reddit before going to bed. The next morning, I woke up to my phone blowing up with notifications. It had gone viral on Reddit and TikTok overnight, racking up hundreds of thousands of views." The app's web version had been viewed more than 400,000 times on TikTok and Reddit in the first 24 hours. There was a market for the app, but the cost was prohibitive. It was going to set Daniel back $300 a day to keep the app up and running, so he introduced "a small paywall to help cover the costs, and created a $2 per month financial hardship option for anyone struggling", while offering a slightly higher tier for people who wanted to support him as "a now-unemployed solopreneur". What started as a personal project had evolved into something much bigger. People started asking him if NeuroTranslator could be developed into a mobile app, and if it could be expanded to cover other neurotypes, such as ADHD. "I wanted NeuroTranslator to be more than just a translator for autistic communication - I wanted it to bridge communication gaps for a range of neurotypes," Daniel says. "The feedback I received from thousands of users inspired me to create something truly inclusive and scalable. "At first, I explored hiring developers to build a mobile app, but the quotes I received were far beyond what I could afford - especially given that I'd just lost my job. So, I decided to take a leap and teach myself how to build the app from scratch, with a little help from AI-powered tools along the way. "It's estimated that one in five people are neurodivergent, yet the world often isn't built for us. NeuroTranslator is my attempt to change that - to offer a way for neurodivergent and neurotypical people to connect in ways they may never have thought possible." The app works, he says, by acting as a bridge between different communication styles. Users type in a scenario and the app translates it in a way that's easy for the user to understand, based on their particular neurotype. "Anyone who isn't neurotypical will tell you that communicating can sometimes feel like speaking an entirely different language," he says. "Take something as seemingly simple as 'How are you?'. For a neurotypical person, it's often just a polite greeting, not meant to be answered in detail. For an autistic person, however, it can be interpreted as a literal question requiring an honest and thorough response. "The NeuroTranslator breaks down hidden meanings, implied context and common social cues that might not be obvious to everyone. "By making subtle adjustments in how we communicate, we can reduce misunderstandings and create more meaningful connections. That's what bridging the gap really means to me - fostering understanding by translating intent, not just words, and embracing our differences." Advertisement Sign up for our newsletter to stay up to date. We care about the protection of your data. Read our . Advertisement
For the third time in her career, senior Ella Hagen has punched her ticket to the Nike Cross National meet in Portland, Oregon. Last fall at the Nike Cross Southwest Regional meet, Hagen improved upon her seventh-place finish during her sophomore season, taking fifth overall and being one of the five individual athletes to qualify to the national meet. Knowing it was the final Nike Southwest Regional meet of her career, Hagen took to the start line and prepared to give it her all over the flat, 5-kilometer course weaving its way through Toka Sticks Golf Club in Mesa, Arizona. Leaning on the confidence she gained from claiming her second state cross-country title a few weeks ago, Hagen charged from the start line with the rest of the field in the girls championship race. Within the first kilometer, it became apparent that Timpview High School senior Jane Hedengren was going to try to drive the pace up front. Running stoically, Hedengren of Provo, Utah split a blazing fast time of 5:04.00 through the first mile of the race. Wisely deciding to let Hedengren do her thing up front, Hagen sat in the chase pack with Niwot High School junior Addy Ritzenhein, Eaton High School sophomore Delaney Reuter and Riverdale Ridge High School junior Payton Meineke. Hagen followed the trio of Colorado athletes through the mile mark, recording a time of 5:15.50 and sitting in fifth overall. “It went out pretty fast and part of it was expected in a field of girls as strong as it was,” Hagen said. “I told myself to stay with the pack, stay relaxed and keep my composure.” Over the second mile of the race, Hagen began pushing the pace a little bit, passing Meineke and moving into fourth. With a little over a mile left in the race, Hagen let her legs roll over the short, manicured grass and tried to reel in Reuter. Not letting up until she was across the finish line, Hagen finished in fourth place overall in a time of 16:48.7. “I was very proud of the performance and being able to show the consistency,” Hagen said. “This course didn’t really play to my strengths necessarily, so I knew it was going to be one where I was going to have to really dig in. At the end of the day, I was super happy with the performance and excited to be able to head back to nationals to have fun on that course one last time.” With the top five individuals not on a qualifying team earning a spot to nationals, Hagen secured the fourth spot. Reuter took the third spot by placing third (16:42.87) and Ritzenhein claimed the second spot by taking second (16:31.72). Hedengren won the race in a record-breaking time of 15:50.01, taking the first individual qualifying spot. Beyond Hagen’s performance in the girls championship race, Summit also brought the majority of its cross-country team in order to compete on the fast course. All of the Summit boys that came on the trip raced in the boys medium school race which was composed of competitive clubs and programs from across the Southwest region. Feeling slighted for not making it into the boys championship race, senior Josh Shriver rapidly took off from the start line and began trying to put together a race that would make a statement. With sophomore teammate Jay McDonald following closely in his footsteps, Shriver led through the mile mark of the race in a time of 4:45.30. Shriver continued to lean into the pace over the second mile, urging McDonald and junior Carter Niemkiewicz to come with him as he did so. Spurred on by his teammates behind him, Shriver lengthened his stride over the final mile. Celebrating by acting like he was sleeping, Shriver crossed the finish line as the champion of the boys medium school race in a time of 15:14.94. The time marked a new personal best time for Shriver. “I think that I have always kind of been slept on,” Shriver said. “That is kind of where the celebration came from. ... It is hard, especially in the Southwest region to make a name for yourself and be a favorite. You have to show up every single time and put together a good race. ... Being able to show that I was better than people thought was a goal of mine going in, and I feel like I did a good job of doing that.” McDonald secured the Summit sweep of the top, two spots on the podium, taking second in a time of 15:25.56. Niemkiewicz shaved 53 seconds off his previous best time to place 11th overall in a time of 15:55.59. Joining the personal-best party, sophomore Lukas Remeikis took 30th overall (16:15.84 ), taking 27 seconds off his previous best time. Remeikis was then followed by junior Cain Steinweg and sophomore Owen Fallon. Steinweg finished in 53rd (16:36.21) and Fallon took 54th (16:37.03). Sophomore Malachi Love dropped 22 seconds off his previous best time to take 103rd (17:22.88), sophomore John McDonald set a six-second personal best to place 132nd (17:49.22) and freshman Cooper Levi finished in 138th (17:56.02). The biggest improvement among the Summit boys belonged to sophomore Max Klein who set a 59-second personal best in order to take 149th (18:09.49). Freshman Bodhi Adnan finished in 159th, (18:16.68) and junior Gavin Benedict took 162nd (18:19.27). Scoring a total 75 points, the Summit boys cross-country team placed second overall in the boys medium school race. Although Shriver was left out of the championship race, he felt like it was special for him to run with the whole team one last time. “After state I thought that was it,” Shriver said. “I remember we were all disappointed collectively after state, and I had kind of accepted that was how it was going to end on a team basis. The silver lining was that I was going to be with them again, so I tried to take it as one last opportunity to toe the line with that whole group. We had a ton of fun at that race. ... It was a great way to end it, and it will be something I remember moving on from this era.” Similar to the boys, the Summit girls dazzled in the girls medium school race. Leading the way was sophomore Lily Benbow. In the middle of a standout second season with the Tigers, Benbow worked alongside her teammates —senior Avery Eytel and freshman Sophie Dinse — all the way to the finish line. Trying to out sprint one another over the final 100-meters of the race, Benbow ran 19:41.40 to place 33rd overall. A few seconds after Benbow crossed the finish line, Eytel capped off her Summit cross-country career by placing 35th in 19:43.34. Dinse finished a spot behind Eytel in 36th, running a time of 19:43.73. Narrowly missing out on going under the 20-minute barrier, freshman Paige Ratliff placed 44th overall in a time of 20:01.42. Senior Cece Miner took 87th (21:16.40), freshman Anna Stafford finished in 101st (21:43.75), junior Claire Jackson took 121st (22:41.04) and junior Lila Ellison finished in 134th (23:45.02). Stafford had the biggest personal best of the entire season for the program, running nearly two-minutes faster than her previous best time. The Summit girls placed sixth overall in the race with a total score of 153 points. Six Summit athletes will now prepare to compete at the Foot Locker Cross Country Midwest Regional in Kenosha, Wisconsin on Saturday, Nov. 30. With snow and cold temperatures in the forecast, Summit is expected to feel right at home. “I am excited to prolong the cross season for as long as possible really,” Hagen said. “Foot Locker is going to be an awesome experience. Definitely like true cross-country out there, getting to have some fun.” The top 10 runners in both the boys and girls championship race will qualify to Foot Locker Nationals in San Diego on Dec. 14.Blowout loss to Packers leaves the 49ers on the playoff brink