Don’t leave money on the table

Some companies make no effort at all to recover their VAT. But even those who think they’re reclaiming VAT may in reality only be recovering a small proportion of it. There are several reasons why companies fail to recover part or all of their foreign VAT. The main culprit a very confusing bureaucratic process. The end result is businesses are leaving large sums of money on the table. We estimate conservatively that a company which spends €5 million per year on foreign travel could easily be losing €300,000 if it fails to go after its VAT which is exactly what happens most of the time.

Spotlight

Destinations International

Destinations International (formerly Destination Marketing Association International) is the world’s largest resource for official destination organizations, convention and visitors bureaus (CVBs) and tourism boards. Destinations International is about serving destination marketing professionals first and foremost. Together with more than 4,700 members and partners from nearly 600 destinations in approximately 15 countries, Destinations International represents a powerful forward-thinking, collaborative association; exchanging bold ideas, connecting innovative people and elevating tourism to its highest potential.

OTHER WHITEPAPERS
news image

ABB Hospitality The number one solution for first-class hotels

whitePaper | August 18, 2022

A vision for the perfect building What’s key is the synergy created in the building as a whole. It starts with the power that’s created using renewable sources of energy, which then feeds into the things that this power can do for the people within – from the infrastructure in the buildings right through to the emotional experience of the occupants, from the lowest parking level right through to the most exquisite penthouse suite.

Read More
news image

Opening the door to a world of opportunities 5G in travel

whitePaper | September 28, 2022

5G allows IoT devices to communicate and share data faster than ever. 5G boosts cellular bandwidth, making it easier to network large numbers of IoT devices together. 5G offers ultra-low latency that reduces data processing and internet response times.

Read More
news image

The Long Awaited Road to Recovery: Hotels, Airlines, and Consumers in Our Transitional Reality

whitePaper | August 3, 2021

The travel industry is finally on its long-awaited road to recovery — U.S. travel restrictions are easing for vaccinated individuals and international travel is resuming in higher numbers. While leisure travel intent for this summer looks promising, less than one-third of travelers have solidified travel plans by booking their full trips. Uncertainty surrounding vaccine coverage, infection rates in various areas, and quarantine mandates continue to keep prospective travelers vigilant. With a slew of trips still not fully booked, hotels and airlines can tailor their strategies to consumers’ preferences to influence their decisions. This white paper explores what recovery looks like for the hotel and airline sectors, analyzes consumer trends and how to increase their comfort in travel, and examines the post-pandemic staffing situation in the travel industry. Readers will also learn about: Consumers’ travel budget plans Why digital nomads are a lucrative market How Salesforce can assist with mitigating staff shortages and scheduling Features travelers appreciate in public and private lodging accommodations

Read More
news image

Safeguarding the future of travel

whitePaper | July 8, 2021

This whitepaper explains: Travel is an ultra-high-risk sector for card acquirers because most payments are for future delivery. If merchants fail to fulfill a service for which they have taken payment (often months in advance) customers can recover their money from the acquirer by initiating chargeback. Acquirers traditionally demand substantial cash collateral (holdbacks) or other financial security from travel merchants to mitigate this risk. Holdbacks lock away substantial funds for travel companies and can therefore be highly damaging to liquidity. High-profile collapses and the COVID-19 crisis have driven acquirers to impose harsher terms or quit the travel sector completely.

Read More
news image

BIG DATA FOR BETTER TOURISM POLICY,MANAGEMENT, AND SUSTAINABLE RECOVERY FROM COVID-19

whitePaper | December 22, 2021

Tourism suffered the greatest crisis on record in 2020. International arrivals plunged by 73% as the COVID-19 pandemic prompted nearly all governments around the world to introduce a range of measures to restrict travel, including border closures to tourists.

Read More
news image

Concept of Operations for Uncrewed Urban Air Mobility

whitePaper | September 30, 2022

a Concept of Operations (ConOps) for uncrewed, passenger carrying, urban air mobility (UAM) operations involving highly-automated, electric aircraft. While the concept is presented within the context of the United States national airspace system (NAS), it is intended to provide a blueprint for such operations globally. This ConOps is intended to facilitate stakeholder engagement, concept maturation, and ultimately industry consensus for how to enable such operation

Read More

Spotlight

Destinations International

Destinations International (formerly Destination Marketing Association International) is the world’s largest resource for official destination organizations, convention and visitors bureaus (CVBs) and tourism boards. Destinations International is about serving destination marketing professionals first and foremost. Together with more than 4,700 members and partners from nearly 600 destinations in approximately 15 countries, Destinations International represents a powerful forward-thinking, collaborative association; exchanging bold ideas, connecting innovative people and elevating tourism to its highest potential.

Events