Travel & Tourism is an important economic activity in most countries around the world and helps to produce prosperity across the globe. Tourism brings people from different cultures closer together, creates jobs and helps drive the export of goods and services. When you consider the impact that the travel industry has on commerce across the board, it's no surprise that travel technology solutions have been pioneers in online commerce.
The travel industry is estimated to account for about 10%+ of global GDP and nearly one (1) out of every ten (10) jobs worldwide and last year was one of the strongest years of worldwide growth in nearly a decade thanks to strong consumer spending. But Travel & Tourism's total contribution to the world's economy goes deeper than the money spent during a trip. In addition to the obvious expense for products such as airline tickets, hotel accommodations, cruise vacations or ground transportation, the industry provides significant indirect benefits to other industries. Consumer spending on local entertainment or attractions, food & beverage services as well as retail spending before and during a trip can all be considered the result of travel and tourism. Even companies developing travel technology solutions owe their existence in part to this important and exciting industry.
All signs indicate that consumers will continue to use their smartphones as more and more as they become constantly connected to social media. If you're not making your product available on all channels you are potentially surrendering your customers to the competition. As a result, mobile ready travel technology solutions are becoming increasingly important for any travel business looking to reach these customers. People are not only using today's mobile devices to interact with each other, but they are also using these devices to make a significant number of purchases online. Some consumers may use various different devices as they research and eventually purchase products online. For instance, many consumers may start their initial research using their smartphone, but then switch to a Laptop to complete the purchase. Others will choose to use their handheld device exclusively and access a mobile booking engine to complete their purchase. Either way, your business needs to be ready to serve these customers on the device they choose to use.
Today's state of the art travel technology solutions can take full advantage of the easy access to content and powerful features that an online booking engine offers combined with the ease and mobility of using a smartphone. The competitive online market also requires agency owners have the flexibility to quickly and easily control a product's selling price based on a wide range of criteria including travel or booking dates, supplier or class of service.
Finding an online booking solution with the right combination of options for your business can be a critical decision. Finding a technology partner that will help you reach today's consumer where and how they shop for travel can be just as important. If you're not making your product available on certain channels, then you are surrendering your customers to the competition.
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