COVID-19 tourism spend recovery in numbers

McKinsey

Global tourism has been one of the most affected sectors during the COVID-19 crisis. Our tourism recovery model forecasts a cumulative drop of $3 trillion to $8 trillion before tourism expenditure returns to pre-COVID-19 levels.

Reimagining the $9 trillion tourism economy—what will it take?

McKinsey

As national borders consider reopening, a partnership between governments and the tourism industry will be essential. Insights on Travel, Logistics & Transport Infrastructure

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Our Physical World Has Changed: Augmented Reality in Tourism

Tom Spencer

AR in the Tourism Sector. Many countries are currently facing problems in their tourism industries caused by a downturn in domestic and international travel due to COVID-19. Tourism Ministries are working on recovery packages and strategies to boost tourism.

Coping with success: Managing overcrowding in tourism destinations

McKinsey

McKinsey and the World Travel & Tourism Council examine how destinations can reap the benefits of tourism while preserving their unique qualities. Our Insights

Transformation tourism

Seth Godin Blog

Tourism is fun, but rarely transformative. "I bought the diet book, but ate my usual foods.". "I I filled the prescription, but didn't take the meds.". "I I took the course. well, I watched the videos. but I didn't do the exercises in writing.". Merely looking at something almost never causes change. If it was easy, you would have already achieved the change you seek. Change comes from new habits, from acting as if, from experiencing the inevitable discomfort of becoming

Cuba: A Tourism Conundrum

Think Customers

Several of my friends just returned from a trip to Cuba and I've been reliving their adventures in Havana and Santiago through photos. Leisure travel to Cuba from the U.S. is still banned, but my friends were able to enter the country through the "people-to-people" program in which visitors interact with Cuban citizens in cultural activities. There’s more… To read the rest of this blog posting click here or visit www.1to1Media.com/weblog. Customer Experience Marketing homepage

French Tourism Down 10% on Average Following Terrorist Attacks

MishTalk

A few days ago a reader wanted to know how much European tourism declined in the wake of terrorist attacks. … Continue reading → Economics

Creating Incentives to Reduce Healthcare Costs; Medical Tourism Can Save Us All Money

MishTalk

Graham explains How Domestic Medical Tourism Could Save Us All Money. One of the most under-reported medical success stories in recent years has been the increase in medical tourism: traveling abroad to get high-quality care at a fraction of what it would cost in the United States. The same Lasik eye surgery that might cost $4,400 here (for both eyes) is available in India, for example, for $500, according to the Medical Tourism Association.

Taking the Long View on Cuba's Tourism Opportunity

BCG

Article Thursday, May 04, 2017 Improved relations with the US have brought a flood of US travelers—and a potential boon for travel companies. The island’s aging infrastructure will lead to bumps and growing pains, but as demand grows, companies that invest for the long term and build relationships with Cuba’s government can capitalize. Article

A Mediterranean basin without a Mediterranean climate?

McKinsey

The Mediterranean’s signature climate drives tourism and agriculture in the region. What impact is climate change likely to have? Insights on Sustainability

Why to Schedule Your Next Conference in Dubai or Kuala Lumpur

Strategy+Business

Emerging economies are poised to attract tourism''s most lucrative niche market

Innovating the Mundane

Strategy+Business

Space tourism and self-driving cars are exciting to ponder, but what about just making our current systems work better

'Honestly, It's Not For Everyone' Nebraska Campaign Is Marketing Genius

Henry DeVries

Honestly, the new Nebraska tourism campaign is genius and a lesson to those who want to attract high-paying clients. Honesty is the best policy

How to Establish Value in Your Consulting Fees

Consulting Success

” “Well, it will help them to attract more visibility and get more tourism and direct investment.” “So their reputation is important to them because they want to be seen as world-class and that will allow them to attract more tourism to their country and increase their foreign direct investment, right?” We went on to talk about the measurable value of tourism and direct investment for the buyer.

How Iceland 'Gets' Frictionless Experiences

Think Customers

Although it was a short trip, it gave me a glimpse into a well-oiled tourism engine that companies should aspire to. Hospitality and travel companies could learn a lot from Iceland in terms of creating a frictionless guest experience. I recently visited Iceland's capital, Reykjavik, for a four-day vacation. There’s more… To read the rest of this blog posting click here or visit www.1to1Media.com/weblog. Customer Engagement Customer Experience homepage

The FOOD Episode!

Harvard Business

In this special Thanksgiving edition taped a few days before the holiday, Youngme, Felix, and Mihir discuss all things food, including food halls, the plastic problem, vertical farming, CBD menu sightings, culinary tourism, and fast whiskey. Financial markets Disruptive innovation Social responsibility Audio

Casual Apparel Outperforms High-End Fashion

BCG

Travel and tourism, consumer durables, consumer nondurables, and retail were the other four, and all five consumer industries finished in the top ten of the 28 industries we analyzed. Article Tuesday, December 13, 2016. In the wake of the recent financial crisis, the global fashion and luxury industry established a solid record of extremely strong value creation. More recently, however, the industry’s performance declined somewhat—a trend that has continued into 2016.

New Law in France: Limos Must Wait 15 Minutes Minimum Before Picking Up Rides

MishTalk

Note: "VTC" (Voiture de Tourisme avec Chauffeur) translates roughly as chauffeur driven touring car. According the Minister of Crafts, Trade and Tourism and the Interior Minister, the delay helps distinguish the activity of VTCs from taxis. Regardless, Hollande''s Minister of Crafts, Trade and Tourism and the Interior Minister ruled in favor of taxis. Want to arrange a limo in France to take you to the airport or go on a private tour?

The Secrets of Retail’s Repeat Top Performers

BCG

Travel and tourism, consumer durables, consumer nondurables, and fashion and luxury were the other four. Article Friday, January 20, 2017 During the past decade, the global retail industry established a solid record of very strong value creation. For the five years from 2011 through 2015, the industry’s performance declined somewhat in both absolute and relative terms. Still, it continues to deliver better value than most other industries.

What Cuba’s Economic Evolution Means for Multinationals

BCG

Two subsequent publications will analyze the country’s consumer and tourism industries.). Article Thursday, April 21, 2016. President Obama’s trip to Havana this spring was the first visit from a US president to Cuba in nearly 90 years. It also represented the latest step in a series of measures to improve relations between the two countries. As Cuba has begun to liberalize its economy, US companies have begun to show significant interest—and for good reason.

What is Consulting?

Tom Spencer

Consultants can work in a wide range of industries including automotive, CPG (consumer packaged goods), chemicals, defense, electronics, financial services, healthcare, infrastructure, logistics, media, mining, oil & gas, pharmaceuticals, private equity, retail, social sector, technology, telecommunications and tourism. (Source: Flickr ). Consulting” is a pretty general term, and doesn’t really give you a clear idea of what consultants actually do.

The Real Challenge to Turkey’s Economy Isn’t Terrorism

Harvard Business

Terrorism impacts tourism, but not for as long as you might think. It generally takes a country about 13 months to recover fully from a terrorist attack, according to the World Travel and Tourism Council. This is because terrorist attacks don’t create substantial infrastructure or service provision damage that impairs the logistics and conduct of tourism. Turkey’s tourism economy is poised to recover from the recent airport attack.

Understanding the Evolving Cuban Consumer

BCG

A third will analyze the country’s travel and tourism industry. Focus Thursday, June 02, 2016. Over the past 18 months, communications between the US and Cuba have improved significantly. The two countries now enjoy diplomatic relations, and President Obama’s recent trip to Havana was the first visit to Cuba by a US head of state in nearly 90 years. Restrictions on trade and travel are easing.

5 activities or interests to add to your CV

freshminds

Not only does learning another language make yourself available for roles in teaching, translating, tourism, and more; it can also strengthen your CV in a range of other ways. A common mistake some candidates seem to make is adding the wrong extracurricular activities to their CV or none at all.

French Unemployment Rises Most in Three Years to Record Level

MishTalk

They fear a decline in activity in tourism and catering that would inevitably damage employment. The recovery in France appears to have stalled already, and this is from employment data before the terrorist attacks. Via translation from Les Echos. The number of Class A unemployed rose by 42,000 last month. This is the largest increase in nearly three years. Overseas included, France now has 3,810,000 unemployed, a new record.

Top 10 Consulting Firms in the Middle East

Management Consulted

Dubai is one of the firm’s newest offices, and for good reason – the city is a hot spot for tourism, real estate investment, trade, transportation, and financial services. Deloitte plays a pivotal role in serving Middle East’s high-growth industry sectors such as tourism, hospitality and leisure, construction, telecoms and financial services, as well as major sectors such as oil and gas, the public sector and the Gulf region’s sovereign wealth funds.

Egypt Police Storm Pro-Mursi Camps; Deadly Clashes; Stocks Lower, Market Closed Until August 18

MishTalk

One of the major pillars of the Egyptian economy is tourism. The longer that the violence goes on, the longer it will take for Egypt to recover the type of tourism revenues it was generating before the revolution in 2011. Violence in Egypt took a turn for the worse as Police Storm Pro-Mursi Camps. Egypt’s security forces stormed two sit-ins in Cairo where Islamist supporters of former President Mohamed Mursi have been protesting his overthrow.

The Growing Business of Helping Customers Slow Down

Harvard Business

Witness the rising popularity of yoga and wellness retreats (one of fastest growing sectors of the tourism industry), the slow food movement, and the spreading popularity of digital detoxes: time away from tech devices. Westend61/Getty Images. We are living in an age of acceleration. All manner of goods can be ordered online and delivered within hours. The next date is a swipe away. Even exercise and meditation are now accessed via apps and completed in minutes.

A Message of Hope and Relatability: If COVID-19 Has You Worried About Your Business, You Are Not Alone

Melissa Agnes

After much discussion with our leadership, research on COVID-19 and tourism, and a serious headache, I am better able to keep the fear at bay. I received the following letter today from a client and it spoke to me. It spoke to me because of how pure, true and relatable this message is. I’ve chosen to share it with you because I want you to know that the fear you are likely experiencing amidst the Coronavirus (COVID-19) crisis is normal and it’s OK.

Russia Ponders Russian Airspace No-Fly Zone for EU Commercial and Passenger Jets

MishTalk

Estimated Losses Greek tourism expects the move to cost $400 million. The sanctions retaliation game took another big leap forward today with the EU in the spotlight: Moscow May Force European Airlines to Fly Around Russia. Russian Prime Minister Dmitry Medvedev threatened on Tuesday to retaliate for the grounding of a subsidiary of national airline Aeroflot because of EU sanctions, with one newspaper reporting that European flights to Asia over Siberia could be banned.

LA Commission Studies Pension Crisis, Recommends New Commission; Bankruptcy Inevitable

MishTalk

The Los Angeles 2020 Commission presented a catalog of failings that it said were a unique burden to the city: widespread poverty and job stagnation, huge municipal pension obligations, a struggling port and tourism industry and paralyzing traffic that would not be eased even with a continuing multibillion-dollar mass transit initiative. The Los Angeles 2020 Commission studied amongst other things the sorry state of LA''s pension mess.

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Simon-Kucher & Partners Interviews & Culture

Management Consulted

Transportation, Travel & Tourism. SIMON-KUCHER & PARTNERS INTERVIEWS & CULTURE. Simon-Kucher & Partners is relatively small firm based in Bonn, Germany. Though the firm’s background is exclusively in pricing, in more recent years it has been breaking into other practice areas such as strategy, marketing, and sales. The firm has been growing rapidly, expanding across Europe and the U.S.,

Swiss Peg Removal: Did Anyone Win?

MishTalk

One widely recognized "big loser" is the tourism industry. Net-net this is likely to be a loser for the tourism industry, but it may not be the total carnage most expect. Swiss Economy Winners and Losers In reference to Rabbit Hole Intervention Fails: Wild Moves in Swiss Franc as Switzerland Abandons Euro Peg; Morals of the Story , reader "Grandaddy" a Swiss citizen living in the US, asks " How will removal of the peg affect the Swiss economy/outlook in the long run?

How I Fell In Love With Business: Confessions of a Bain Consultant

Management Consulted

In Guatemala, I researched cultural tourism and Spanish immersion training. If you haven’t read Part 1 or Part 2 of our Transparency Series (on Jenny Rae’s journey before, during and after Bain), make sure you start there – it will illuminate the back story to what we share here. Enjoy! **. I sat in the gate area at Washington-Dulles airport, awaiting my first flight overseas.

Bain 162

Start of a Global Currency Crisis?

MishTalk

This includes making use of every loophole that presents itself, so that e.g. in Venezuela, so-called ''dollar tourism'' has developed, whereby citizens travel abroad for the express purpose of using their credit cards to withdraw the allowed limit in dollars at the official exchange rate [then buy goods or bring back the cash to exchange on the black markets at much higher rates].

Post-Mortems: Are you working in a ‘Learning Organisation’?

Confessions of a Consultant

During the Celtic Tiger era, many people overstretched, gambling money they couldn’t afford to lose, sometimes buying ‘off-plan’ properties in countries that they’d never even visited (I wasn’t personally aware that Bulgaria was a hotbed of Irish tourism). Making Mistakes – Post Mortems Needed. Played golf recently with a property developer. He’s a solid bloke who lost all of his money (and a little bit of ours as well) during the fall of the Celtic Tiger.

Spain Suffers from Hundreds of Earthquakes Caused by Offshore Drilling; Largest Quake is Magnitude 4.2; Citizens Complain of Cracks and Tremors Whipping Their Homes

MishTalk

Jose Manuel Soria, the Minister of Industry, Energy and Tourism said that it appears that there is a direct relationship between the injection of gas into the underground Castor warehouse and earthquakes. An investigation is underway in Spain as to the cause of hundreds of recent earthquakes in the Cataluña region in Spain. The energy minister says "It appears that there is a relationship between gas injection and earthquakes". Via Mish-modified translation.

How Customers Come to Think of a Product as an Extension of Themselves

Harvard Business

Or consider Great Britain’s tourism campaign. KAZUHIRO NOGI/Getty Images. Businesses are constantly vying to capture the attention of potential customers. It’s not easy to do. People are inundated with different brands as they stroll through the streets, scan through their social media newsfeeds, and binge television. The average American is exposed to more than 4,000 ads every day. A simple concept can help businesses cut through the noise.

Mortgages Plunge 42% from Year Ago in Spain, 38th Consecutive Drop; Signs of Recovery? Spain Need Another Bailout?

MishTalk

That and a drop in unemployment figures, largely considered to be a result of seasonal hiring in the tourism industry, are the first signs of the "light at the end of the tunnel" that the government has been promising since initiating a series of deeply unpopular austerity measures. Prime Minister Mariano Rajoy wants you to believe the Spanish economy is improving. One look at housing suggests any improvement is an illusion.

Japan "Wins" 2020 Olympics: Final Nail in Yen Coffin?

MishTalk

To prepare for these events, Brazil and Russia are spending billions to modernize infrastructure, build stadiums, increase commerce, and promote tourism. Japan is all aglow that it "won" the 2020 summer Olympics. When I heard the name Tokyo, I was so touched, overwhelmed,” said Shinzo Abe, Japan’s prime minister. The joy was even greater than when I won my own election.”.