In the face of extraordinary events, resilience and reinvention are often the only recourse.
Many Europeans continue to prioritize travel with distinct preferences and expectations that emphasize personalization and convenience. But as the industry surges ahead, a collection of forces – some that have deepened over decades, and others now rapidly racing forward – stand ready to transform how travel businesses must operate to compete.
Once again, travel sits on the cusp of massive change.
Fast and powerful advances in AI have massive applications for every aspect of travel – from how businesses operate internally to how European consumers from a diverse range of rich cultures, developed and emerging markets and interwoven economies experience the world. The Machine’s alarming pace of change is demanding a rethink of our products, services and regulatory framework. Will the pace of AI deployment in travel tech surface regulatory challenges and opportunities around identity and privacy? Can the latest advancements sync with sustainability demands and expectations? And for an industry built on relationships, what does it portend if AI can replace us?
Travel’s biggest players with seemingly unlimited resources continue to tighten their grip on markets, segments and distribution channels, lengthening the odds for others to establish an edge. Meanwhile economic and sensitive environmental factors raise the bar for survival.