The ITB Buyers Circle holds significant importance at the foremost travel trade show worldwide. Annually, this exclusive group consists of approximately 1,000 meticulously chosen buyers who are evaluated primarily based on their purchasing capabilities. As a result, there is growing curiosity surrounding the recent findings of the investigation conducted by ITB Berlin in close partnership with Dr. Fried & Partner, a consultancy based in Munich.
The inaugural Global Travel Buyer Index centered on the month of December 2023, while the subsequent round took place in February of this year. A substantial number of participants, comprising a considerable portion of this year’s Buyers Circle, were surveyed, unveiling intriguing revelations about the Circle’s makeup and the prevailing economic atmosphere.
The study aimed to determine the main source markets in which the participants primarily made their purchases. Europe was identified as the primary market by almost half of the respondents, with Germany representing more than 25%. Approximately 7% of the total comprised purchases from Asia, while North America accounted for around 5%.
Buyers were surveyed regarding the types of purchases they were making, and they had the option to choose multiple categories. The majority, around 81 percent, selected Hotels as their primary category. Activities & Events and DMC Services were evenly split at 50 percent each. Transfers were also popular choices. About one third of respondents mentioned Flights, while 27 percent were interested in Cruise services, and approximately 17 percent were involved in Car Rental services.
The ITB Buyers Circle members expressed optimism when asked about their assessment of the current economic situation. The majority of respondents reported that the volume of orders in the past 6 months had increased compared to the same period last year. However, there was a slight decrease in this proportion between the first and second rounds of questioning. Regarding definite purchases, approximately 75% stated that they had improved, while around 20% noted no change. Additionally, the survey examined the expenses associated with acquiring orders, and more than 80% reported an increase compared to figures from the previous year.
The forecasts for the next six months were just as optimistic as the results from the previous six months in all instances. Based on their answers, approximately 75% predicted a growth in order volume compared to the same period last year. Around 20% anticipated no change, while a small percentage foresaw a decrease. Additionally, most respondents predicted an increase in confirmed purchases, with over 75% expecting the figures to stay the same. This also applies to the total expenditure involved in order fulfillment.
SOURCE: ITB Buyers Circle: Positive Mood and Encouraging Outlook BY: eTurboNews | eTN