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KHOA
K U W A I T

HOSPITALITY SECTOR

By World Travel & Tourism Council

THE MEGATRENDS: AN OVERVIEW The world is transforming. The scale, scope and complexity of change is unlike anything humanity has experienced before,
shaking the foundations that society has accepted as the norm. These converging forces – or megatrends – present immense opportunities for those who
recognize them and adapt their strategies. Travel & Tourism is one of the fastest growing sectors, accounting for more than 10% of global GDP in 2017. 4
Sustaining its growth and hitting industry forecasts, such as 1.8 billion international arrivals by 2030, will require the continuous innovation and reinvention across
the sector. 5 Leaders will need to foster a nimble outlook that can respond to new customer demands and expectations, the next revolution in data capabilities, and
heightened business risks. Our examination of five transformative, interlinked megatrends offers a guide to developing such strategies.

REALITY, ENHANCED Today’s experience-driven world is fueled by a desire for personal enrichment, self-direction and community. As people, communities and
businesses become more sophisticated about the ways technologies can work in concert with human nature and analogue experiences; new ideas and beliefs are
emerging about how best to live a connected life. Online and offline experiences are becoming increasingly integrated, from shopping to socialising to consuming
media. With experiences at the core of Travel & Tourism, the sector has the potential to design meaningful, unique, frictionless and even unplugged journeys that
directly respond to these changing values.

LIFE, RESTRUCTURED The gig and sharing economies are redefining relationships, disrupting industries and creating new expectations for work and life. The
growth of tech-powered economies such as the “gig economy” and “sharing economy” continues to redefine relationships, disrupt industries and create new
expectations for work, life and culture. Fluidity, autonomy and social engagement are ascendant. This can be seen in the breakdown of traditional boundaries
between work and leisure, and the growing value placed on access in preference to ownership. As new economic and lifestyle trends intensify, the Travel & Tourism
sector will see the growth of new opportunities – and face new expectations

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