Highlights of the Future Of Travel & Tourism In The Wake Of Covid-19.

 

The Future of travel and tourism in the wake of COVID 19 by WTTC, 2020, shows that the world has and continues to suffer sizeable losses and setbacks due to COVID-19. Not least among those setbacks is the shock to the Travel & Tourism sector.

  • 90% of the global population adjusted to life under travel restrictions and others stayed home in fear of the virus itself, the sector came to a near-total standstill.
  • The Communities, large and small, depending on tourism and travel shouldering the burden of zero revenues, and millions have been furloughed or laid off within a few short months.
  • More than 121 million global Travel & Tourism jobs and an estimated US$3.4 trillion in global GDP could be lost as a result of COVID-19

 

Change in Demand

  • Traveler preferences and behaviors have shifted toward the familiar, predictable, and trusted.
  • Domestic and regional vacations and the outdoors will reign in the short-term, with tourism businesses and destinations already adapting.

 

Health & Hygiene 

  • Health and safety are paramount in this new era. Personal experiences, advice from experts, and concerns for distancing will guide consumer behavior in the short- to mid-term.

 

Innovation & Digitisation 

  • Digital adoption and consumption are on the rise, with consumers now expecting contactless technologies, including biometrics among others, as a basic prerequisite for a safe and seamless travel experience.
  • Cybersecurity is only becoming more important, particularly as remote work becomes the norm in the short to medium term and as identities are digitized.

 

 

AREAS FOR ENTREPRENEURS TO BUILD THEIR STARTUPS IN TOURISM AND TRAVEL SECTOR

The following are Opportunities for Entrepreneurs to build their Startups and reshape the tourism sector.

  

STARTUPS TO IMPROVE TRAVELERS EXPERIENCE

 

1. The Domestic & Regional Rebirth

The research found that about 77% of Chinese travelers favoring domestic travel within three months after the peak of the crisis. 71% of Americans looking at domestic locations.

 

What innovators need to do to boost domestic and regional tourism and travel?

Build innovative product which will facilitate domestic and regional tourism and travel

 

2. Appetite for Risk 

A traveler survey found that the “fear of exposing others” was the top concern for 39% of travelers in the UK and 31% in France.

 

What innovators need to do to address risk issues in domestic, regional, and international tourism and travel?

Build innovative product which will allow users to share risk places and things to do for each destination.

 

3. Contactless Convenience & automation

As new business models emerge to adapt to the changing market needs, the sector will focus on “automating the predictable so it can humanize the exceptional” according to Matthew Upchurch, Chairman & CEO of Virtuoso

 

What kind of Startups needed?

Building Startups to facilitate contactless or automation delivery of Tourism and travel services.

For example: 

  • Payment service: The Tourism sector need products which will facilitate cashless payment
  • Check-in or check out: The Tourism sector need products which will facilitate contactless check-in & check out.

 

 

STARTUPS TO IMPROVE BUSINESSES OR SERVICE DELIVERY

 

1. Acceleration of Digitisation 

Thinking about the airport of the future, Paul Griffiths, CEO of Dubai Airports, noted that a distributed airport experience with travelers getting into pods as they go through necessary checks may be developed in the future, and effectively reducing the number of travelers touchpoints.

 

What kind of Startups needed?

Building Startups to automate services across the traveler journey including the integration of connected rooms, contactless check-in, digital car keys, and delivery robots, among other technologies.

 

2. The Rise of Virtual 

Tourism Businesses and destinations alike will continue to adapt to the changing times, even offering virtual experiences as they work to re-inspire wanderlust in travelers and restart the sector.

 

What kind of Startups needed?

Building Startups to facilitate virtual tourism. Entrepreneurs can partner with tour operators to execute this startup.

 

3. Threat Prevention 

With the rise of remote work and the use of remote connections, businesses will prioritize the protection of consumer data accordingly and guard against major data breaches at a time when trust is paramount. According to Paul Griffiths, CEO of Dubai Airports, “defense and investment against cyberattacks need to intensify irrespective of COVID-19”. 

 

What kind of Startups needed?

Building Startups to support cybersecurity to protect the business from cyber-attacks.

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Heri Marco

Highly skilled in tracking details, communicating deadlines, and following up with internal and external stakeholders to ensure on time completion within budget. Ability and interest in learning and incorporating new technology. 

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