Travel Technology: Dominating the Global Tourism Business

Technology has been dominating the entire tourism ecosystems for last few decades and the situation now arises where travel providers are expecting more efficient tools and services from the technology firms. This demand is expected to rise in the succeeding years to come to meet the growing demand of the digital market. Travel technology is one of the most rapidly expanding business segments in the world and market evaluators are expecting this growth to double up in the next 5 years due to new technological innovations; these will make the travel experience more efficient and convenient both for the service providers and for the travelers.

However, the entire idea dwells on how efficiently the technology providers integrate the market needs with their innovations. This puts a challenge before the companies as they now need to think from the view points of both the travelers and the service providers. From the travel agents’ point, modern-day innovations have empowered them with technologies that not only save their time and operational costs, but create a wide scope to reach their customers globally. With the help of customized websites, travel booking engines and bulk e-mailing services, the online travel agents not only double up their business, but are successful to create additional revenue by marketing their custom-made ancillary products and services.

Countries like India, China, Australia, Germany, Malaysia, USA and UK have witnessed a rapid growth in the tourism business in last two decades due to the advancement in internet technologies. The internet has created global platform for cultural exchange, which in turn created interest among travel enthusiasts to explore new destinations, untangle hidden world mysteries and journey across the remotest parts of the world to experience ultimate adventure. The digital platforms advertising different world destinations have succeeded in enticing the modern travelers to instantly plan travel, buy tickets and book accommodation; as a result the hospitality business also witnessed a quick boom.

While travel is the big buzzword these days, maintaining the entire travel process has become more complex for the travel agents, accommodation owners, airline operators and other travel service providers. However, as the competition increased in the market, the technology has improved to a point where it helps businesses to provide best customer experience. It minimizes the risk of information inaccuracy, accelerates the operational time and helps disseminate the information in a better manner.

Technologies like GPS, mobile applications, online booking engines etc. have minimized the hassle for travel consumers also. Now the travelers are empowered to search about different destinations on the web, research over the internet to know about different hotel and travel packages, to do the reservations online and to reschedule their journey as and when they want. This not only saves their time, but makes them get the best deal at market best price.

The improvement and implementation of technology in a business increases its operational efficiency and reduces overall costs, thus increasing the revenue returns in a long run. Travel technology has changed the entire scenario of exploring the world and is bringing more opportunities for the service providers and consumers to get the best out of it.