In this assignment a taxonomy of characterizing will be made, using the 4 elements from the market characteristics, based on the data from source 1, 2, 3 and 4. The 4 things that characterise a market is the product, suppliers, consumers, and the geographically defined area.
Travel agencies arrange package holidays in advance that include plane tickets, transfers, hotel accommodations, travel guides, etc. The package tour industry serves the consumer market. The number of package tour tourists leaving Denmark decreased by 5,4% or 61.600 over the course of 2019-2018. Since 2017, Spies, Apollo, and TUI, the three largest tour operators, have all seen a decrease in package tour sales.
Because of a change in customer behavior, the package tour industry has appeared to become less and less popular. The summer of 2018 saw record high temperatures in Denmark, which altered consumer behavior. The climate consciousness movement is also killing the sector. Air travel accounts for 2-4% of all CO2 emissions worldwide, and many Danes frequently declare that they will utilize fewer flights per person as a means of reducing CO2 emissions. The aviation business has already suffered from this, and it will continue to do so as consumers, particularly the younger generations, want a sustainable flight industry. Technology has also developed rapidly over the past decade, which effects the market. Instead of buying a package tour, planning your vacation yourself is often more convenient and cheaper.
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