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The one-fits-all approach has lost its influence on the travel industry. More people, especially Millennials, no longer consider a beach holiday as the ideal way to spend their annual leave. People travel for the experiences that await them on new terrain. Moreover, they increasingly carry out their booking activities online – by themselves thus overall changing their travel habits. This situation has a profound impact on the travel industry and challenges travel agents (TAs) to adapt in order to survive.
While at the turn of this century, arranging a holiday entailed a visit to the local travel agent, digital travel spending will top 704 billion Euro globally by 2020. For travel agents, this signifies a pressing need to address the ongoing digital transformation. To identify what’s next for travel companies, we analyzed 1.000+ startups in the travel industry. In this breakdown, we will share the eight most impactful innovation areas.