Exploring Niche Markets and Current Trends in Travel and Tourism

This report delves into the analysis of niche markets within the travel and tourism industry, highlighting the growing importance of adventure sports. It examines the distinction between hard and soft adventures, emphasizing the high-risk, high-reward nature of hard adventures and the evolving landscape of soft adventures. The report underscores the significance of understanding and adapting to the needs of a specific target market. The report also emphasizes the need for businesses to adapt to changing trends. The report concludes by analyzing the trends and challenges in the travel and tourism industry, focusing on niche markets and adventure sports.

Contemporary Issues in Travel and Tourism
Introduction
Sector of travel and tourism is growing in a
rapid speed throughout the world and it is
determining as the key factor of economic
growth, employment generation in a
country. Tourism business in recent times
is a profit maximisation enterprises and a
large number of companies are focussing
and establishing their business in this
sector.
Niche market is categorised as a subset of
market where specific products are being
focussed. Thus, Titan Travel which is a
company that deals in travel and tourism
and provides services and facilities to its
customers. Niche market is a part of large
market which focuses on particular
products and services. This kind of market
satisfy specific needs of target market.
These markets are created by determining
specific needs of customers by offering
specialised products and services.
Current trends influencing change in the travel and tourism sector
HARD ADVENTURES- This require a certain
level of risk and high skill are needed to perform
such adventure are known as hard adventures.
Main reason of choosing this, niche market
because it is in popularity because now a day’s
people are more challenging and prefer to
challenge their capability for example: travelling
to climb a mountain or doing something which is
extraordinary. Other than this, most of the
people opt for adventure sport so that they can
share something adventurous with their friends
and family.
It helps businesses to build long-term customer relationship as
audience is comparatively small than other market. Organisation
wants to establish their business in niche market so that profit can
be gained. Thus, for this, they are focussing on adventure sports
and providing facilities accordingly to their clients.
It includes some adventure sports which have higher degree of risk
in it these activity involves high-speed and height and some
special gear are used to minimize the risk under this. While in
adventure tourism the tourist looks for different and new
experiences. There are two types of adventures
SOFT ADVENTURES -The type of adventure in which low risks
and experience require to have adventure are known as soft
adventure.
Conclusion
From the above report, it has been concluded
that, there are different kind of issues and
problems that should be faced by companies
who are dealing in travel and tourism. As this,
sector is growing in a rapid speed so, changes
are also evolving. Thus, it is crucial that firm
accept changes and provide services according
to the needs and wants of customers.