rohit talwar- the future of estonian/lithuanian tourism 02/02/13

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  • The Future of Estonian Tourism

    Rohit Talwar - CEO Fast Future

    Vilnius Tourism Conference.

    Tourism Opportunities for Lithuania: Vilnius

    February 2nd 2013

    rohit@fastfuture.com www.fastfuture.com

  • Future Proofed Organisations Work on 3 Horizons in Parallel

    4-10+ Years

    Creating

    the Future

    1-12 Months

    Operational

    Excellence

    1-3 Years

    Drive for

    Growth

  • The World in 2020

  • Markets - Demographic Destinies 2 billion more people in 40 years

    Demographics is Driving Economics

    1998

    448 691

    729

    5231

    4216

    740

    1051

    346

    596

    Source : United Nations 2011 2050

  • Markets - Life Redefined

    Lifespans are Increasing

    Under 50s have 90% chance of living to 100.

    Aubrey de Grey suggests

    we could live to 500 or 1000

    What are the implications

    for tourism?

    What kind of opportunities

    will be created?

  • The Emergence of Personalized Service Spectrums

    86% agreed that by 2020,

    personalization will have been

    embraced wholeheartedly by

    the sector and that customers

    will have the ability to choose

    the size of room, type of bed,

    amenities, audio-visual

    facilities, business equipment,

    etc. on booking and pay

    accordingly.

  • Speed of Execution

    e.g. Ultra-Quick Construction

  • 3D Booking

  • Digital Wallpaper

  • Living the Dream

  • Vilnius

    Foreign investment up 100% in 2012

    Ranked 4th globally

    Strong historic growth

    Recovering from GFC

    Focus on attracting

    investment and

    building exports

    Under the radar -

    0.07 percent of the

    world economy

    Low debt

    Investment increasing

    Rising GDP per capita

    Lithuania - A Solid Starting Point

  • 45th Competitiveness

    46th Business

    Environment

    38th Innovation

    Punching Above

    Your Weight as a

    Country

  • A Modest Innovator...

    Source. Innovative Union Scoreboard 2011. March 2012.

  • ... But Ready to Take Off

    39th Health /

    Primary Education

    26th Higher Education/

    Training

    33rd Technological

    Readiness

  • Goal - one of 10 most advanced EU member states by 2030

    Life Quality

    Happiness

    Democracy

    Sustainable Society

    Global

    Competitiveness

    Globalization

    Smart Society

    Smart Economy

    Smart Governance

  • Travel and Tourism

    Competitiveness is Declining

    th

  • Below Average Price Competitiveness

  • Business and Tourism Infrastructure

    th

  • Human, Cultural and Natural Resources

    th

  • Quality of Health and Hygiene

  • Community Engagement - Aruba

  • City Branding - Berlin

  • Sydney Vivid Joined up Thinking

  • Adelaide Convention Centre

    Creating Experiences http://www.borev.net/imf.jpg

    Image source: Adelaide Convention Centre

  • Latvian Tourism Marketing

    Strategy 2010-2015

    Medical / Wellness

    Business / Conventions

    Sport

    3 day Latvian folk dance course with

    concluding concert and party for

    participants.

    1-week "ecology school" - work

    shops, trips, collect and prepare

    berries / mushrooms / herbal teas.

    Skiing or fishing under ice in

    various water bodies (sea, lakes).

  • Czech Republic Marketing Strategy

    History, Heritage, Cycling, Medical

  • TV Advertising & Programme Sponsorship

  • Strategic Opportunities

  • Digital Innovation Taking Place

    Touch Screen

    Maps Vilnius Touring

    Tablets

    Best Connected cities in Europe - Vilnius (1st), Kaunas (2nd)

    Vilnius Fastest internet worldwide

  • 4D Christmas Projection

  • Opportunities

    30% Female Visitors

    72% Repeat Visitors

    >60% Local Visitors

  • Business Events is one way to

    Reduce Seasonality

    But the Meetings Industry is Changing The Focus is on the Experience Beyond Tourism

  • Integrated Inward Investment and

    Convention Bureaus are Emerging

  • Growing Asian Arrivals

  • 44% Come by Car

    Developing Air Capacity

    Developing Air

    Capacity would

    Extend your

    Reach

  • Promote What you Have

    e.g. Cycling / Crafts

    Integrate Offers within Lithuania and Across the Baltic States

  • Natural Heritage

    e.g. Auktaitija National Park

  • Medical / Spa Tourism

    Integrate

    the Offer

    Prove the

    Benefits

  • Rural and Agri-Tourism

  • Beer Trail - Birzai

  • Beyond Cepelinai Promote Local Cuisine

  • Unique Experiences

    E.g. Dinner in the Sky

  • Unique Experiences E.g. Hill of Crosses

  • Unique Experiences

    E.g. Castle Stays - Trakai Island

  • Waterfront Experiences Klaipda / Neringa

  • Song Festival

    Sea Festival Klaipda Castle Jazz Festival

    Vilnius

    Festivals

    Street Music Day

    Paaislis Music Festival

    European

    Film Forum

    Mnuo Juodaragis

    Vilnius Fejerija

    Mados Infekcija

    (Fashion Infection)

  • Grtas Park Museum of Ancient Beekeeping

    Devils Museum Kretinga Museum

  • Build Industry Capability

  • Innovation - Low Cost Marketing

    Learn to Love Social Media!!!

  • Pursue Awards

  • Award Winning Hotels:

    Radisson Blu Astorija and Le Meridien

  • Pursue Green and Sustainable Practices

  • Out of 9 critical boundaries, we have transgressed 3:

    biodiversity, nitrogen cycle and climate change

  • Sustainability

    Environmental considerations will play an increasing role in

    the choice of business and leisure hotels. 606 Respondents

  • Crowne Plaza Copenhagen Towers Solar Power, Geothermal Well, Eco-rooms

  • Stand out from the Crowd e.g. Dont Make Me Get the Tank

  • Partner and Be Magnetic

  • All to Play for

    Think Partnership

    Curiosity and Magnetism

    are Key

    Experiment

    Conclusion

    Designing Your Future

  • An Economic Overview Lithuania gained membership in the World Trade Organization and joined the

    EU in May 2004.

    Despite Lithuania's EU accession, Lithuania's trade with its Central and

    Eastern European neighbours, and Russia in particular, accounts for a

    significant share of total trade.

    Foreign investment and business support have helped in the transition from

    the old command economy to a market economy.

    Lithuania's economy grew on average 8% per year for the four years prior to

    2008 driven by exports and domestic demand.

    GDP dropped nearly 15% in 2009 - the three former Soviet Baltic republics

    were among the hardest hit by the 2008-09 financial crisis.

    In 2009, the government launched a high-profile campaign, led by Prime

    Minister KUBILIUS, to attract foreign investment and to develop export markets

    GDP grew 1.3% in 2010 and jumped 5.8% in 2011, making Lithuania one of

    the fastest growing economies in the EU.

    Source: CIA World Fact Book. https://www.cia.gov/library/publications/the-world-factbook/geos/lh.html

  • Economic Overview Debt levels

    Lithuania recorded a Government Debt to GDP of 38.50 percent of the

    country's Gross Domestic Product in 2011.

    Historically, from 1999 until 2011, Lithuania Government Debt To GDP

    averaged 23.6 Percent reaching an all time high of 38.5 Percent in

    December of 2011 and a record low of 15.5 Percent in December of 2008.

    Source: Trading Economics. http://www.tradingeconomics.com/lithuania/government-debt-to-gdp

  • Lithuania GDP

    The Gross Domestic Product (GDP) in Lithuania was worth 42.73 billion US

    dollars in 2011.

    The GDP value of Lithuania represents 0.07 percent of the world economy. GDP in

    Lithuania is reported by the World Bank.

    Historically, from 1990 until 2011, Lithuania GDP averaged 19.5 USD Billion

    reaching an all time high of 47.3 USD Billion in December of 2008

    Source: Trading Economics. http://www.tradingeconomics.com/lithuania/gdp

  • Lithuania Balance of Trade

    Source: Trading Economics. http://www.tradingeconomics.com/lithuania/balance-of-trade

  • Lithuania GDP per Capita

    Source: Trading Economics. http://www.tradingeconomics.com/lithuania/gdp-per-capita

  • Lithuania Unemployment

    Unemployment rose after the 2008 Financial Crisis, but started to

    decline around 2011

    Source: Trading Economics. http://www.tradingeconomics.com/lithuania/unemployed-persons

  • Lithuania Unemployment

    This chart shows the decline in unemployment rates from January 2011

    Source: Trading Economics. http://www.tradingeconomics.com/lithuania/unemployed-persons

  • Lithuania Unemployment

    Unemployed Persons in Lithuania increased to 204.03 Thousand Persons

    in November of 2012 from 196.43 Thousand Persons in October of 2012

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