Moving the global travel industry forward
A special article produced for the 2018 World Travel & Tourism Council (WTTC) Global Summit.
The travel industry across the globe has a progressive path laid out in 2018 with rising disposable incomes from both emerging and developed markets. Investments in innovation and emerging technologies will further fuel this growth.
The global travel industry today has reached unprecedented size and momentum, as disposable incomes grow larger across the world. Although there are factors that make the industry vulnerable, the travel space continues to thrive in 2018. Investments in travel start-ups capable of offering novelty, data derived from emerging technologies, and employee engagement will elevate personalization for consumers. How can these personalized interactions unlock a myriad of new revenue streams?
This insight reviews the current state of the global travel industry and focuses on issues that will drive the industry forward. It also discusses how travel suppliers can build a bigger ecosystem by tapping into the value created by adjacent industries such as hotels, tours and activities, and health and wellness. The article also discusses a collaborative approach for online travel agencies and hotels as the path to securing a competitive advantage.