With the beginning of the New Year, we’re seeing lots of predictions for 2018 for the Travel, Tourism and Hospitality industry. Below is a roundup of two of the headlines and predictions that caught our eye here at Transpay: competition for OTAs and emerging markets travel.
Stiff Competition for OTAs
Travel Pulse highlights the competition facing OTAs as a result of tightening budgets and Google flights, companies are having to get creative to be competitive. “Companies of all sizes are spending less and selling less and having to employ creative strategies to push their brands forward with smaller budgets,” says Andre Azer, VP Marketing of StudentUniverse.
Phocuswire’s 2018 predictions center around its main areas of coverage, including online, technology, distribution and startups. Their online predictions caught our eye, especially the commentary on OTAs and Google. They point out that OTAs may be better positioned to compete in the digital age as compared to some of their suppliers, but the major challenge comes from Google’s ambitions, to “own the customer, own the supply chain relationship, own the data and, with online services such as Trips, own the experience.”
Emerging Markets Travel
Intrepid Travel has put out their top 10 Travel Trends for 2018. Coming in at #2 is emerging markets travel. Connecting much of this trend to social media bringing new destinations to attention, markets such as Ethiopia, Bhutan, Paraguay and Kazakhstan are examples of markets seeing growth.
Forbes notes that much of this growth in emerging markets revolves around searching for the boutique experience, with travelers growing less interested in “normal” and seeking elevated and unique experiences.
Wrapping up the Phocusright’s recent conference, The Chicago Tribune highlights 8 travel trends to keep an eye on for 2018. One trend of note is China, not just gaining entry to emerging market, but also adopting its “progressive mobile practices, the apps, payment services and other features are more advanced and widely accepted.”
Finally, Skift’s report, Room for Optimism: 2018 Global Travel Market Outlook references data from the International Monetary Fund (IMF) indivicating expected growth in emerging and developing markets, where “income levels are rising, technology is increasing, and trade is liberalizing.”
The Transpay Edge
You might be wondering why these particular headlines caught our eye. Transpay has over 30 years of experience of simplifying cross-border mass payouts in emerging markets and working with OTAs and other travel providers. Watch this video to see how we helped HotelQuickly, a last minute hotel booking app with over 250 destinations in Asia, expand its business internationally.
Simplify Your Emerging Markets Payouts
to Learn How Transpay Can Help!