Travel and Hospitality Industry Outlook 2018
Technologies that are shaping the future of travel
Global travel industry gross bookings reached $1.6 trillion in 2017, making it one of the largest and fastest growing sectors in the world. The industry accounts for a staggering 10.2% of global GDP. What trends lie ahead that will further strengthen the travel & hospitality industry?
Read about the main industry trends for airlines & hotels, and get the latest insights on the technologies that are shaping the future of the travel & hospitality industry. Download the report for the full 2018 outlook.
Major trends affecting airlines & hotels
Airlines: Investing in the future of flight
The curb-to-gate-to-destination experience needs an extreme makeover. When it comes to customer satisfaction, the airline industry currently ranks 37th across 43 different industries. The root cause of this state of affairs is not difficult to understand. The business of flying millions of passengers around the world relies on a complex network of ticketing and reservation systems, airports, planes, gates, and baggage systems.
A confluence of emerging technologies can unlock incredible solutions for airlines, specifically around pain points such as security checkpoints, baggage systems, route optimization, helping consumers navigate busy airports, and mitigating the impact of weather delays and equipment failure.
Consider the potential impact technologies like the Internet of Things (IoT), robotics, 3D printing, asset tracking, and smart workforces can have.
Hotels: Becoming more experience driven
While the outlook for the hotel industry is generally positive, brands who fail to innovate risk losing market share. With just a few swipes in a travel app, today’s consumers can compare more hotel and private accommodation options than ever before. Along with unprecedented choice, however, comes unprecedented expectations, and a traveler that does not favor “run-of-the-mill” hotel experiences. With hotel reviews and virtual tours at their fingertips, travelers can easily sniff out “big-box” properties that fail to offer something truly unique and memorable.
Technologies shaping the future of travel
For more information on all the developments taking place that are affecting the Travel & Hospitality industry, contact Frank de Bont via the contact details below.