Recent findings from a collaborative study by ITB Berlin and Dr. Fried & Partner gains interest to travel trade industry

Wednesday, March 6, 2024

The ITB Buyers Circle, a pivotal aspect of the world’s premier travel trade show, ITB Berlin, maintains its influential status through the inclusion of approximately 1,000 meticulously chosen buyers. These buyers are selected based on their substantial purchasing volumes, underscoring the Circle’s significance in the global travel and tourism industry.

Recent findings from a collaborative study by ITB Berlin and Dr. Fried & Partner, the Munich-based consultancy, have sparked considerable interest, particularly their Global Travel Buyer Index which offers insights into the economic sentiment and purchasing behaviors of the Buyers Circle’s members.

Conducted in two phases, the first in December 2023 and the second in February of the current year, the study surveyed several hundred participants, representing a notable segment of this year’s Circle. This investigation has revealed key details about the source markets, with nearly half of the respondents focusing on Europe—Germany alone represents over a quarter of this focus. Asia and North America follow, accounting for approximately 7% and 5% respectively.

When it comes to purchasing categories, the survey highlights a dominant preference for hotels, which account for about 81% of the purchases, demonstrating the critical role of accommodation in travel planning. Activities & Events and DMC Services each attract 50% of the buyers, followed closely by Transfers. Flights, Cruises, and Car Rentals also figure prominently, illustrating the diverse needs of today’s travel buyers.

The economic outlook among the ITB Buyers Circle members is notably optimistic. The majority report an increase in order volumes over the past six months compared to the previous year, although there was a slight dip between the two survey rounds. About three quarters of respondents have seen an improvement in definite purchases, with an overwhelming 80% noting higher expenses in securing orders, indicating robust investment in quality and customer satisfaction.

Looking ahead, expectations remain high, with three quarters of the members anticipating increased order volumes in the next six months. The sentiment is equally positive regarding definite purchases and overall expenditure, suggesting a continued commitment to growth and excellence in the travel industry. This optimistic outlook reflects a resilient and dynamic sector poised for further expansion, highlighting the ITB Buyers Circle’s role in shaping the future of global travel and tourism.

Input: ITB Berlin

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