TOURISM INDUSTRY MANAGEMENT IN THE GLOBAL TRANSFORMATION: MEETING THE NEEDS OF GENERATION Z

This study aimed to examine the needs of Generation Z and determine the corresponding strategic vectors for the global market transformation using the tourism sector as an example. The main research methods were represented by market analysis and survey. Besides, the study used statistical data from Millennial and Gen Z Traveler Survey 2019: A Multi-Country Comparison Report. This study examined data from a survey of travellers. The research sample consisted of 4236 individuals from 5 countries. Responses were enrolled through an online survey of travellers who reside in the world's five major travel markets: the US, the UK, Australia, China and India As a result, a theoretical model of the global travel market that meets the needs of Generation Z was proposed. Essentially, the model offers to develop the global travel industry through the synthesis of modern digital technologies and social communication. The scientific contribution of this study is the proposed methodological approach to the tourism industry management based on identifying its transformation vectors. The practical application of the proposed model for the transformation of the global travel industry to meet the needs of Generation Z should contribute to the market's effective adaptation and the development of its competitive advantages.