Social networking driving travel boom – TravelMole guest comment by Euromonitor

The next evolution of travel is what is commonly termed as Travel 2.0, with social networking websites currently being the main driving factor.

Social networking sites, such as vitualtourist.com, are great marketing tools for destination marketing.

Most content at sites such as these have user-generated content, although commercial content is appearing increasingly on these sites as companies wake up to the marketing potential of social networking sites.

There is a distinct time advantage in that travel information is very up to date and needs not to adhere to publication or research schedule, as with most traditional travel information sources such as guide books.

Promoting domestic tourism and lesser known destinations

Sites like this are very useful in promoting domestic tourism, as well as more off the beaten track destinations.

Since most tourism boards are spending more effort and money in promoting inbound tourism, its much neglected cousin, domestic tourism, stands to gain from social networking sites where members are promoting local destinations via invitations to local events by other members.

Through social networking, new bonds are made and travel queries are answered promptly, with local economies benefiting greatly from this.

This may result in the growth of travel “minipreneurs”, where locals provide on the ground tourism services often involving a fee.

Websites like WAYN and virtualtourist.com have regular real-life meetings organised by its members to socialise, find new travel companions or simply to meet up with fellow members who are passing through town.

Travel applications and social networking

Many travel companies are embracing this trend to promote and direct traffic to their online travel retail sites.

One of the top tools downloaded by Facebook members is Tripadvisor’s “My Travel Map”. This increases brand exposure as well as directs the high traffic flow from Facebook to Tripadvisor’s Expedia powered website.

Many Facebook members are using Tripadvisor’s application as a source of information when doing their travel research before their holidays.

Within this dynamic market, the next step after the seamless integration of online travel retail into the social networking websites will be an interesting development to watch.

As social networking brings down the barriers between people, this represents a platform that companies can use to target better their customers.

Applications could be created to find out more about consumers, such as members naming their top ten list of dream destinations, which on one hand be shared with their friends on Facebook, yet on the other hand be used for market research purposes.

Euromonitor International forecasts that online retail in the European Union to grow by 141% to $70 billion by the end of 2011, with social networking being a key catalyst for this boom in travel.