The Travel Industry in the Data Economy

Technology constantly disrupting travel

Technological innovation is constantly disrupting the travel industry changing travel consumer behaviour and forcing companies to change their business models.

The rise of big data and artificial intelligence       

After the rise of the online and then mobile channels, it is now the turn of big data analytics and artificial intelligence to have a deep impact on consumers and the competitive environment in the travel industry.

Personalisation of bookings and the travel experience  

The analysis of data on travel consumers’ preferences allows companies to offer them a higher level of personalisation during the booking process and the trip itself, increasing conversions and enhancing the travel experience.

“Chatbots” to offer bookings and assistance      

Over the next few years, travellers will increasingly interact with artificial intelligence agents, in the form of “chatbots” and virtual assistants, to seek assistance and make bookings.

Tech players challenge travel intermediaries      

The growing role of technology also means a more important role for technology players in travel, with companies such as Google, TripAdvisor and Facebook increasingly allowing travellers to complete bookings on their sites and following them during their trips, providing information and assistance.

Steady rise of the mobile channel           

The steady rise in popularity of mobile devices is having a strong impact in terms of both travel bookings and travel consumer behaviour. Apps and messaging services are expected to generate an increasing number of travel reservations.

From travel services to travel experiences          

As a result of the mobile, peer-to-peer and personalisation trends, travel consumers are today increasingly shifting from requiring services to experiences.