The global tourism industry experienced a 28% decline in patent filings in Q3 2024 compared with the previous quarter. The total number of grants dropped by 9%, resulting in overall patent publications decreasing by 28.9%, according to GlobalData’s Patent Analytics. GlobalData’s databook Travel & Tourism: Patents Trends Q3 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
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Notably, the number of patent applications in the tourism industry was 772 in Q3 2024, versus 1,085 in the prior quarter. Filings were down 17% year-on-year and decrease 28% quarter-on-quarter. This compares to a 17% year-on-year decrease in patent grants and 28% decline in quarter-on-quarter.
Most patenting activity has been in the Hotels & Resorts sector, where the number of patents filed Q2 2024 was 269, a drop of 34% versus the previous quarter. The second-largest patent count was in Travel Intermediaries (225, down 2%) and then Lodging in third (114, down 34%).
The top five companies accounted for 14% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by China Southern Airlines with 64, followed by Toyota Motor with 16 and Capital One Financial with 10.
Patenting activity was driven by China with a 33% share of total patent filings
The largest share of patent filings in the tourism industry in Q3 2024 was in China with 33%, followed by the US (23%) and Japan (7%). The share represented by China was 13% lower than the 46% share it accounted for in Q2 2024.
For further understanding of GlobalData's Travel & Tourism: Patents Trends Q3 2024, buy the databook here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
