The global travel market is a $631 billion dollar industry and ripe for disruption. With many global brands using outdated systems, there is an increase in new, tech-first platforms and marketplaces that are posed to reinvigorate and enhance the travel experience.
\The economy continues to be a key indicator of whether or not people want to travel. With reports that
A leader of next-generation travel marketplaces is Mondee, and they’re already delivering on the future of travel in leisure, corporate and retail. Most recently they announced a partnership with TISSINI to empower 55,000 Hispanic women living in the United States to grow careers as travel entrepreneurs.
Taking a look at their offerings along with in depth research on the travel tech space, here is a look at the top forecasted leisure travel trends in 2023:
Personalized, smart travel experiences
From apps to platforms to marketplaces, travelers have no shortage of places they can look for discounts and deals. While savvy travelers know the best place to get the best discount is working with travel experts who have access to closed group deals, it never hurts to cross-check pricing options.
Beyond personalized pricing, there is an added bonus of using smart systems to personalize an entire trip. From extracurricular activities like hikes and theater to dining and sightseeing, some tech platforms can reduce the time to plan detailed itineraries (and even provide discounts, too).
There is also an opportunity for airlines to offer more robust passenger-experience technologies, like
Better Data and Technology
When unexpected or unprecedented travel outages, delays, or cancellations occur, it often exposes outdated technology or systems failures. With the rise in artificial intelligence and machine learning, and increased investment in IT operations, there are opportunities for key travel players to change the traveler’s digital experience. \
Data from travel tech platforms also offer a unique opportunity for travel partners to help see real user travel trends. Predictive analytics helps support where travelers will visit at key times of the year, how they are traveling, and additional insights key to the industry.
Discount travel as an employee perk
There’s no better way for an organization to say they want an employee to use vacation time than by making it less expensive for them to get away. Brand partnerships with travel tech platforms mean human resource executives can create custom opportunities for their employees.
If a business cannot introduce the
Improved automation and “all in one” platforms
A big benefit of increasing travel opportunities is the ability to do more from one place. This is a big benefit for travel experts, which also translates to the end user, as they can expect a more tailored experience. Online travel insurance marketplace SquareMouth released a report sharing that travel
When travel experts can access ticketing, discounts, insurance, and other perks in a single platform, it translates to an overall better and concierge-style service to their clients.
New and Improved Affiliate Programs
High-ticket affiliate programs, like
For example, travel agencies that cater to Millennials can access unique offerings designed specifically for this audience. Millennials can access unique offerings tailored to this demographic through these programs.
New content and special deals are part of the package. Expect to see access to new offerings, which are highly targeted, personalized, and ready for use. Affiliate programs are a great way to earn money while providing continued benefits, in the form of new offerings, to your audience.
Resurgence in working with travel experts
According to a study, a whopping 94% of travelers who used agents before the pandemic will continue to do so. Additionally, it is estimated that between 2021 and 2031, the employment of travel agents
Beyond access to just travel agents, better tech will help streamline the booking process, making it more interactive, and, most excitingly, it will shift the process from functional to experiential. For example, if you are planning to travel to Italy, certain platforms now have the ability to recommend curated experiences - whether a wine tour or a day of sightseeing - you’ll have access to various attractions within the same platform you are booking your flight and hotel.
Influencers - Your Most Trusted Travel Guide
Travel has shifted from functional to experiential, leading to the rise of influencers as trusted sources and modern salespeople. Many travel companies have integrated influencers into their business models, resulting in a win-win situation.
An influencer's reputation is their most valuable asset, and their followers expect a continuum of exciting, new offers. Influencers are now the go-to resource for top travel destinations, accommodations, dining, and even airlines. Therefore, it's crucial for travel industry players to make a good impression among both influencers and customers.
Bleisure & Work Away From Home are Here to Stay
Combining work and play has its benefits, and now people aren’t holding back on travel. A trend in play for the long-term, remote work is also encouraging temporary relocation and the ability to visit and discover more destinations than ever possible.
There is much uncertainty ahead, but after a long hiatus, the desire to travel has bounced back but with an increased demand for new experiences, technology, offerings, and more. Better booking, accompanied by the shift from functional to more experiential platforms, will truly showcase the value the travel industry has to offer, along with its willingness to modernize. In essence, these promising and positive changes, which we can expect to see come to fruition this year, will have a lasting impact on the global tourism economy.