Yes Thomas was huge and it was believed that it just cannot go wrong but well it did. Thomas Cook (United Kingdom) is bankrupt, all operations stalled, Cox & kings the other giant of the travel industry could be next in line. We have already seen Jet airways being grounded and by the look & feel there will be more in line. Air India / Kuoni might very well be the next casualty.
Have people stopped travelling because of recession?
The answer is no, people haven't stopped travelling, they have just become smarter, tech friendly and rely on more innovative ways which gives them more power to decide.
The number of foreign tourist arrivals in India during 2017 increased from 8.80 million in 2016 to 10.04 million @ growth rate of 14% & Number of Indian nationals flying outside India was 23.94 million in 2017 as compared to 21.87 million in 2016.
Let us have a look at which all companies have gained or would possibly gain the most by the fall of travel giants of the world (In no particular order)
Google is a silent killer as far as travel is concerned. When you search for a flight or hotel instead of redirecting or showing you different travel websites Google now shows you airfares & accommodation prices. On top of that they have your browsing history, how does that matter. Oh boy they know if you're thinking of going for a trek to Himalayas or planning to soak the sun in Bali. So their automated algorithms customize what you see.
Trip Advisor
TripAdvisor currently averages 390 million monthly unique visitors and has amassed 435 million reviews and opinions covering close to 7 million accommodations, restaurants and attractions.
More than 280 traveler reviews and opinions are submitted to the site every minute. The TripAdvisor apps have been downloaded 370 million times. As for inventory, more than 10 thousand businesses are added to its website and app every week.
1.5 million room/nights booked on average per day across the globe!
Expedia
Expedia is the second largest player on the online travel agencies market with about 32 percent market share, according to 2018 data
Along with that we have one honorary mention Wander Womaniya .....:D
So let's just say we are wishful of being able to make it big and serve the ever growing travel fraternity. Having said that on a serious note specialized solo travel companies are on the rise because you can leave everything to us once you have booked. We are India's best solo travel company for girls.
COVID-19 (Coronavirus) update:
Due to outbreak of COVID-19 virus across the world, Hospitality & Travel Industry is one of the worst affected sectors. Unfortunately this means that many other loved travel & tourism brands might fall apart. Indian Travel Trade industry being unorganized as it is will be difficult to revive. OYO ROOMS could be one of the biggest losers due to this virus outbreak.
Even the immensely popular AIRBNB is facing the brunt of the current situation and has decided to let go 25% of its global workforce.
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