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Published on : Tuesday, September 24, 2019
An increasing numbers of holidaymakers are using online sites to put together their holidays themselves which has led to a change in the typical package holiday tour operator.
The need for the services of companies like Thomas Cook has gone down due to the proliferation of internet resources has allowed the holidaymakers to play travel agent themselves.
As millennial independent travellers are directing more of their holiday spend online so tour operators like Thomas Cook face fierce competition and this was catastrophic.
The last-ditch attempts to secure the funds failed, Thomas Cook could succeed in securing a £900m rescue deal led by Fosun just last month but the requirement for more funds has proved too rich for lenders.
With changing travellers attitudes it seems that innovation and modernization are key for continual growth in today’s tourism industry. Tour operators having similar strategy should start reconsidering their growth strategies keeping bothe the consumers and employees on the focus.
Tags: Thomas Cook