Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Latest News

Global long-distance coach market projected to outperform GDP growth, supported by ongoing liberalisation unlocking latent demand, and premiumization, OC&C Strategy Consultants report finds

Published

on

  • Global long-distance coach market size between EUR 70-75 billion with c.9% projected CAGR (2023-28), driven by ongoing liberalisation, addition of convenient, high-quality supply, and pricing potential
  • Long-distance coach market growth rates expected 4-6ppt above global GDP growth

MUNICH, April 10, 2024 /PRNewswire/ — The global long-distance coach market is expected to grow by an average annual rate of c.9% between 2023 and 2028, according to a new market report by OC&C Strategy Consultants. With a size of EUR 70-75 billion (2023), the global long-distance coach market is driven by several supportive macro-economic and industry-specific trends, including growing affluence and per capita spend on travel (especially in less developed markets). Furthermore, the addition of convenient and high-quality supply including the expansion of cross-country networks and fleets, connected with the introduction of standardised quality offers, unlock latent demand and drive growth in affluent regions (Europe, United States) and premiumization in developing markets.

“Long-distance coach markets have recovered above pre-COVID levels in 2023 in almost all continents and we expect growth at substantial rates in the coming years”, said Jan Bergmann, Partner in OC&C’s Retail & Leisure practice. “The long-distance coach market has already grown stronger than global GDP before the pandemic, and we expect this trend to continue in the coming years, supported by tailwinds from Asia-Pacific as well as Latin America and Europe.”

Between 2017 and 2019, the global long-distance coach market grew at 5-6% per year, outperforming global GDP by one percentage point. For the period between 2023 and 2028, the growth rate is expected to be between 4-6 percentage points ahead of GDP growth. This increase is driven by strong projected growth in Asia-Pacific (c.12% CAGR) with a particularly positive trajectory in the Indian premium private-contract segment, while the Latin American (c.7%) and European (c.5%) long-distance coach markets benefit from better affordability versus other modes of transport (train, plane). 

Particularly in Europe, expected growth is supported by improved cross-border connectivity: Long-distance coaches increase the frequency as well as consumer awareness of international travel options and cater to the consumer needs for affordability and flexibility.

About OC&C

OC&C is a leading global strategy consultancy, with vast experience in the travel and leisure space, working with both major global corporations and local champions.  As a global strategy consulting firm, we work in close partnership with our clients to deliver outstanding results – both for corporate clients and investors. OC&C is proud to be a Certified B Corporation.

occstrategy.com

This article is provided for research only and shall not be taken as the basis for any investment decision. Because events and circumstances frequently do not occur as expected, there will usually be differences between predicted and actual results, and those differences may be material. OC&C Strategy Consultants makes no representation or warranty as to the accuracy or completeness of any information contained in this article and, to fullest extent permitted by law, disclaims all liability for loss or damage of whatsoever nature caused by any use of the information. 

View original content:https://www.prnewswire.com/de/pressemitteilungen/global-long-distance-coach-market-projected-to-outperform-gdp-growth-supported-by-ongoing-liberalisation-unlocking-latent-demand-and-premiumization-occ-strategy-consultants-report-finds-302113463.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Oakdoor partners with Nexor to advance high assurance security solutions

Published

on

LONDON, May 16, 2024 /PRNewswire/ — Oakdoor, a pioneer in hardware-enforced security solutions, which is part of PA Consulting (PA), and Nexor, the leading specialist in Secure Information Exchange, have announced a strategic partnership to advance a high assurance cross domain solution for secure data sharing. The partnership will start to create highly integrated software guarding and hardware verification solutions – with the aim of making access to data more secure and manageable for customers using multiple security domains worldwide.

Oakdoor has revolutionised data diodes in recent years, raising security standards and diode performance whilst reducing their complexity and cost. Meanwhile, Nexor has over 30 years’ experience in delivering secure information exchange at the highest level. By working together and sharing their expertise, the two companies will work to make the most secure cross domain solutions available to a wider range of customers.

The partnership will enable Nexor’s GuarDiode to be combined with Oakdoor’s cutting-edge data diodes to form a powerful cross domain solution, which will deliver unparalleled protection and resilience against evolving cyber threats. This is because Nexor’s software detects and removes malicious content by validating data against comprehensive information management policies. This allows controlled filtering of sensitive information assets into and out of critical systems. Meanwhile, Oakdoor’s UK CAPS approved data diodes are a critical hardware component for eliminating infiltration or exfiltration attack vectors within the cross domain solution.

Tim Lunn, Founder and Head of Product at Oakdoor, said: “We are excited to announce our partnership with Nexor, which aims to bring this high assurance cross domain solution to the market. By integrating Oakdoor’s National Cyber Security Centre approved diodes with Nexor’s proven protocol and management software system, we are creating a more holistic solution for customers that are working at the highest classification levels.

Tim Thompson, Managing Director at Nexor, said: We are thrilled to partner with Oakdoor, part of PA Consulting, combining Nexor’s advanced software with robust hardware to enhance market support and innovation. By harnessing exceptional engineering prowess alongside advanced software and hardware development, this strategic alliance positions both companies to pioneer more cohesive and impactful solutions, steadfastly advancing our pledge to excellence and customer satisfaction.”

Notes to the editor 

For commercial enquiries and information about joining the Oakdoor partner programme, please contact [email protected] 

About Oakdoor, part of PA Consulting:

Oakdoor, part of PA Consulting, is recognised for its innovative approach to semiconductor technology, offering robust, hardware-enforced security solutions that safeguard sensitive information and guard critical networks against modern cyber threats. Oakdoor’s CAPS approved data diodes are a critical hardware component for eliminating infiltration or exfiltration attack vectors within the cross domain solution. Developed at PA Consulting’s Global Innovation and Technology Centre (GITC), Oakdoor’s solutions integrate principles of uni-directional data flow with advanced hardware-based security, providing a critical layer of protection for organisations worldwide.

About Nexor:

Nexor excels in providing high-assurance threat and risk mitigation expertise and solutions globally. Our unique blend of Research & Advisory Services is delivered by experts trusted to lead MOD research projects into the future of cross-domain technology. With a product portfolio that is both highly customisable and aligned with NCSC import/export patterns and High Assurance principles, Nexor continues to set the standard in secure information exchange. Our agile development capabilities ensure solutions are precisely tailored to balance risk, budget, and functionality according to our customer’s specific business and security needs.

View original content:https://www.prnewswire.co.uk/news-releases/oakdoor-partners-with-nexor-to-advance-high-assurance-security-solutions-302146842.html

Continue Reading

Latest News

ALLCLEAR TRAVEL RESEARCH: ONE IN FOUR PEOPLE WITH MEDICAL CONDITIONS RISK INVALIDATING THEIR TRAVEL INSURANCE WHEN TRAVELLING ABROAD

Published

on

LONDON, May 16, 2024 /PRNewswire/ — One in four people with pre-existing medical conditions (25%) say they will not declare all of their medical conditions when buying travel insurance, with 40% of these only declaring what they are currently being treated for.

Of those that would not declare everything, one in eight (13%) would only declare everything when visiting far-flung destinations, or when they’re away for two weeks or more (15%). Another 14% don’t always declare all their medical conditions as they believe the risk of falling ill is very small.

Further the issue of travelling abroad with medical conditions is not an issue confined to older holidaymakers. The new survey of a representative sample of 2,212 adults reveals that across all age groups, around two-thirds of survey respondents acknowledged they had some form of pre-existing medical condition.  For any age, medical conditions need to be declared when travelling abroad to avoid the risk of travel insurance being invalidated.

Garry Nelson, Head of Corporate Affairs at AllClear Travel Insurance commented: “While it is positive to see that most people are choosing to declare all of their medical conditions to their travel insurance provider, the fact one in four don’t is of particular concern. With travel insurance, it is vital that people – and particularly those that have pre-existing medical conditions – declare ALL the medical conditions that fall within their Travel Insurance warranty, to be sure their cover offers them the fullest protection possible.”

“Our priority at AllClear is to look after our customers on holiday and the value we deliver our customers is based on a commitment to providing the best quality product and best-in-class service for the fairest possible price.”  

For more than 20 years, award-winning AllClear Travel Insurance has helped cover more than 3.5m people, with customers across the UK and Australia.  AllClear is passionate about enabling people to obtain specialist travel insurance whatever their pre-existing medical conditions or age. Discover more about AllClear at: www.allcleartravel.co.uk 

The online research was conducted for AllClear by Sago research among a representative sample for 2,212 adults in April 2024.

View original content:https://www.prnewswire.co.uk/news-releases/allclear-travel-research-one-in-four-people-with-medical-conditions-risk-invalidating-their-travel-insurance-when-travelling-abroad-302146684.html

Continue Reading

Latest News

barq and TerraPay Forge a Strategic Partnership

Published

on

DUBAI, UAE, May 16, 2024 /PRNewswire/ — During the days of Seamless 2024 exhibition in Dubai, the fintech application barq and TerraPay, a global money movement company signed a strategic partnership. This collaboration aims to provide fast and secure international money transfer services.

Mr. Ahmed Alenazi, CEO of barq, expressed his enthusiasm, stating, “We are delighted to collaborate with TerraPay to enhance our international money transfer services. This alliance reflects our commitment to innovation and customer satisfaction.”

Ani Sane, Co-founder & Chief Business Officer – TerraPay, commented, “This partnership is not just another agreement; it is a testament to our commitment to supporting promising projects in Saudi Arabia like barq. Through this collaboration, we aim to deliver fast, efficient, and secure international money transfer services that adhere to global standards.”

Supported by TerraPay’s extensive global payments network, this agreement aligns with barq’s efforts to expand its service offerings, catering to customer needs and keeping pace with the growth of the fintech sector, both within and beyond the Kingdom.

barq received a license from the Saudi Central Bank (SAMA) in January of this year. Developed in Riyadh by Saudi talent, barq is expected to revolutionize the Kingdom’s fintech sector in the coming years. This is due to its unique services, secure payment methods, and the expertise of its team.

For media inquiries or further information, please contact: [email protected] 

Logo:  https://mma.prnewswire.com/media/1222771/TerraPay_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/barq-and-terrapay-forge-a-strategic-partnership-302147190.html

Continue Reading

Trending