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July 28, 2022

Since before COVID-19, the tourism industry has been based offline for too long and has not been able to take advantage of the rapid trend of online entry, making it difficult to respond to the rapidly diversifying travel needs of consumers. In addition, it was an industry that did not actually have a large operating profit even though sales were large due to chronic low margins and returns. However, as the COVID-19 pandemic hit directly, the travel industry began to collapse helplessly regardless of size. However, companies that need to make a comeback somehow are looking to respond to the new era while complementing their existing business models. And how can blockchain and virtual currency.

Spotlight

Brand USA

Our mission is to increase international visitation to the USA in order to fuel the U.S. economy and enhance the image of the United States worldwide. Established by the Travel Promotion Act of 2009, we are the nation’s first public-private partnership to promote the United States as a premier travel destination.

OTHER WHITEPAPERS

Maximizing revenue across the traveler’s journey

whitePaper | January 22, 2020

The travel technology world is thriving, with a considerable amount of innovation occurring in Ireland. To highlight this, Enterprise Ireland, the trade and development agency of the Irish government, commissioned Atmosphere Research Group, an independent and objective travel industry market research firm, to prepare this Thought Leadership Paper. Atmosphere Research interviewed 10 of Enterprise Ireland’s portfolio companies, forming our own opinions about each firm. The report also includes data from Atmosphere’s proprietary studies of travelers in five countries that Enterprise Ireland selected:

2021 Travel Trends Report

whitePaper | September 5, 2021

In December 2020, Expedia Group conducted a study of 2,200 Americans in collaboration with data intelligence firm The Morning Consult to better understand how the travel industry has evolved since the outset of the pandemic, and the way consumersare feeling about traveling in the year ahead.

The vendors’ view on the transition to a world of Offers and Orders

whitePaper | October 13, 2022

Based on present trends, we believe it will be possible for some airlines and their partners to see a world of 100% Offers and Orders by 2030. This means that full capabilities, based on global open standards and a modular architecture, need to be ready and available for any airline that wishes to embark on this journey. In partnership with key industry players, IATA has published a vision of a world with 100% Offers and Orders. The New Distribution Capability (NDC) has been a catalyst in this journey to airline retailing. However, many implementations sell rely on legacy artefacts such as filed fares, booking classes, PNRs and E-Tickets/EMDs. Vendors are developing retailing plaƞorms in this context, however, so far, none of them propose a completely legacy-free environment with Offers and Orders only.

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.

An Uncertain Future: COVID-19's Global Impact on the Travel Industry

whitePaper | April 14, 2021

The insights in this whitepaper are based on SimilarWeb data. To gain an exhaustive and unified view of the travel industry, we analyzed internet traffic and user acquisition strategies for the top travel (OTA, flights, and accommodation) sites in the United States and select countries worldwide. The data includes traffic from desktop and mobile web, and provides year-over-year and month-over-month comparisons.

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.

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.

More Whitepapers

Industry Outlook

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