The
majority of travel and tourism companies have already initiated sustainable
practices. The focus on reducing costs and improving efficiency, and minimizing
the carbon footprint, are encouraging organizations to implement sustainable
practices. Travel and tourism companies state that sustainable measures and
green initiatives are important for their business prospects, and aim to
utilize sustainability to enhance brand awareness and increase their
competitive advantage. Despite the high costs involved in implementing
sustainability measures, sustainable practices reduce operational costs,
decrease waste, and enhance worker productivity, which ultimately boosts the
overall profit margin of travel and tourism companies. Travel and tourism
companies strongly agree that consumers would pay 10% more to stay at a green
lodging facility.
Key Findings
Improvement
in efficiency and cost reductions are encouraging organizations to implement
sustainable practices
The
majority of organizations have implemented energy-efficient lighting and the
regular monitoring of electricity/gas/water consumption
The
highest percentage of executives forecast an increase in their organization's
profitability with the implementation of sustainable practices.
The
survey results reveal that 47% of executives either strongly agree or agree to
pay 10% more to stay at a green lodging facility.
Synopsis
This
report is the result of an extensive survey drawn from Canadean's exclusive
panel of leading Global
Travel and Tourism Industry
executives. The report analyzes the current status of sustainable practices,
and organizations views about significance of sustainable measures and green
initiatives for business prospects over the next two years. The report also
highlights important factors influencing implementation of sustainable
practices in organizations and examines potential impact of sustainable
practices on organization's profitability. In addition, the report indicates
major barriers towards implementation of sustainability measures and identifies
preferred sustainable hotel destinations globally.
In
particular, it provides an in-depth analysis of the following:
Key
drivers of sustainable practices in organizations: analyzes key factors which
are influencing organizations to implement sustainable practices
Prominence
of sustainable measures and green initiatives for future business activities:
examines importance of sustainable measures and green initiatives for business
prospects over the next two years
Projected
change in sustainability management budget: indicates how executives expect
their organization's sustainability management budget to change over the next
two years
Potential
impact of sustainable practices on organization's profitability: ascertains
executives expectations about the impact on their organizations profitability
due to adoption of sustainable practices
Significant
challenges towards implementing sustainability measures: identifies main
barriers faced by organizations towards implementation of sustainability
measures
Impact
of sustainability in travelers selection for hotels, transport and meals:
examines how often do travelers consider sustainability while choosing hotels,
transport and meals
Travelers
viewpoint about additional expenditure incurred: examines Travelers opinion
about incurring additional cost for staying at a green lodging facility
World's
top sustainable hotel destinations: identifies globally preferred sustainable
hotel destinations
Key Topics Covered in the Report:
Global
Travel and Tourism Industry Research
Global
Travel and Tourism Market Size
Global
Travel and Tourism Market SWOT Analysis
Global
Travel and Tourism Market Trends
Europe
Travel and Tourism Market Forecast
Middle
East Travel and Tourism Market Growth
US
Travel and Tourism Market Revenue
Global
Travel and Tourism Industry Research Report
Africa
Travel and Tourism Market Outlook
Global
Travel and Tourism Market Analysis
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Related reports
Contact:
Ken
Research
Ankur
Gupta, Head Marketing & Communications
+91-124-4230204