We’re Travellers, not Tourists
Here we are, in an era where spontaneity can give as good results as meticulous planning when it comes to travel.
Back in the earlier days, it took more to convince ourselves to travel abroad, as we had to rely heavily on travel agencies’ expertise, comprehensive tour packages and guidebooks. With the advent of the digital revolution, we can now plan for our vacations at a finger’s touch – from the time we leave our homes to the moment we get back. Spur-of-the-moment travel is also a growing trend, especially with tech-savvy millennials increasingly deviating from the rigidity of packaged tours to creating their own travel plan with the help of online platforms, the likes of Airbnb and Skyscanner.
Gone are the days when we had to spend hours clicking and typing in multiple browsers to find the best deals for travel planning. Today, global metasearch engines such as Ctrip and its newly-acquired travel search engine, Skyscanner, are here to simplify the process. These metasearch engines aggregate information from the Internet and facilitate comparisons of flights, hotels and car hire prices, among others. Skyscanner, for example, allows users to search for flights, hotels and car hires concurrently – all in one mobile application.
Planning to travel with friends? You no longer need to meet face-to-face or spend time on Apple’s FaceTime. Skyscanner has launched a Skype chatbot which uses Artificial Intelligence (AI) to act as a member in the chat room to facilitate conversations, enabling discussions as we “ask” the bot for the best deals. These powerful metasearch engines help travellers to organise short getaways in just a matter of minutes.
One key consideration when travelling would be accommodation. For this, Airbnb has emerged as an increasingly popular peer-to-peer online marketplace for short-term lodging in residential properties. The popularity of Airbnb comes from its offering of a variety of homelier accommodations at different price points, and customers can enjoy more choices on top of the plain vanilla hotel and backpacker inn options. Collaborative consumption via Airbnb’s peer-to-peer renting, also offers personalisation and an opportunity for holidaymakers to immerse themselves in different local cultures. In November 2016, Airbnb also expanded its offering to “Experience Hosting”, where knowledgeable locals show others the interesting aspects of their communities’ culture. These cultural aspects range from trufflehunting in Italy to seabird rescue in South Africa.
As globalisation and digitalisation advance simultaneously, collaborative consumption has become increasingly seamless. Personalised travels are in high demand, as travellers seek authenticity and are more eager to explore and discover new things. Furthermore, millennials are more tech-savvy, which encourages the mobile-first approach and leads to company collaborations for creative innovations. As businesses shift from product-centric to customer-centric, this could just be the beginning of holiday personalisation.
Lion Global Investors Limited (“LGI”) is a company incorporated in Singapore and a member of the OCBC group.
This publication is for information only. It is not an offer or solicitation for the purchase or sale of any securities/investments and does not have regard to your specific investment objectives, financial situation or particular needs. All applications for units in our funds must be made on application forms accompanying the prospectus. You should read the prospectus and Product Highlights Sheet for details, available and may be obtained from Lion Global Investors Limited (“LGI”) or any of its approved distributors, before deciding whether to subscribe for or purchase units of the Fund. Investments in the Fund are not obligations of, deposits in, guaranteed or insured by LGI or any of its affiliates and are subject to investment risks including the possible loss of the principal amount invested. The performance of the funds is not guaranteed and the value of units in Fund and the income accruing to the units, if any, may rise or fall. Past performance, as well as any prediction, projection, or forecast on the economy, securities market, or the economic trends of the markets are not necessarily indicative of the future or likely performance of the funds. Any opinion or estimate provided in the publication is made on a general basis and is not to be relied on by investors as advice. Investors must make their own assessment of the relevance, accuracy, adequacy and reliability of the information provided and make such independent investigations as they may consider necessary or appropriate for the purpose of such assessment. LGI reserves the right to make changes and corrections to its opinions expressed here at any time, without notice. Accordingly, no warranty is given and no liability is accepted for any loss arising directly or indirectly as a result of you acting on any information, opinion, forecast, or estimate contained herein. You may wish to seek advice from a financial adviser before making a commitment to purchase the Fund. In the event that you choose not to seek advice from a financial adviser, you should consider carefully whether the Fund is suitable for you. The Fund may invest in financial derivative instruments such as futures, options, warrants, forwards and swaps for hedging purposes or for the purpose of efficient portfolio management.
The references to any particular company is intended for illustration purposes only and is not indicative of Lion Global Investors Limited’s intention to invest in such company or a recommendation to readers to invest in the securities of such company or its products or services.
LGI, its related companies, their directors and/or employees (collectively known as “Related Persons”) may have positions in the products mentioned in this publication. LGI and its Related Persons may be engaged in purchasing or selling the products mentioned in this publication for themselves or their client. LGI does not take into consideration the tax implications of the income earned as the tax position of each person is different. Investors are advised to seek independent tax advice on their personal tax position arising from investing in the fund.
© Lion Global Investors Limited. All rights reserved. (UEN/Registration No. 198601745D). LGI is a Singapore incorporated company, and is not related to any corporation or trading entity that is domiciled in Europe or the United States (other than entities owned by its holdings companies).