FICCI & Avalon Global Research (AGR) joint publication of the knowledge paper ‘Travel 2.0 – The Next Generation of travel’ that is slated to be unveiled at Digital Travel, Hospitality and Innovation Summit on March 22 -23, 2017 at FICCI, Federation house, New Delhi, looks at unravelling the technology trends in Travel & Hospitality segment that will help better define the future of the industry, how digitisation has impacted the evolution of this industry, and what can be achieved by overall technology inclusion across the stakeholders in the industry ecosystem.
“We are in a digital era and Travel & Hospitality is not an exception. The rampant penetration of smartphone has transformed the Travel consumption pattern of the end user. The FICCI -Avalon Knowledge report will highlight all these with pointers to the future of travel in India “ – Rahul Chakravarty, Director & Head – Tourism, FICCI
The proposed knowledge paper would focus on the evolution of Travel, Tourism & Hospitality industry through digital adaption and the role of new technologies and automation in streamlining the business processes across value chain, highlighting the speed and convenience of the business in this industry from an end-user perspective. The report would emphasise on adaption of big data analytics and the influence of social media on service providers and aggregators to address the challenges such as intensive competition and requirement of direct interaction with the end users.
Further to the advantages of digital transformation, the knowledge paper would also help understand how technology will help in improving efficiency for stakeholders and personification for the consumer at the overall level and facilitating ease of process implementation. The proposed knowledge paper would also have a detailed recommendation section for the ministry and tourism boards, which will focus on various areas such as the coverage of safety on digital payment platforms, cloud services for documentation for enhancing speed and convenience of transaction, emerging role of augmented and virtual reality in tourism marketing including virtual tour guides, ease of data capturing and integration for enabling seamless transaction, and need for offering personalized services using Internet of Things and big data, among others.
“Technology and Enhanced economic & aspirational activities have impacted how travel is perceived, reviewed, distributed and consumed.Therefore a mature re-search aspect allows the travel ecosystem to innovate to make itself future proof and ready for Travel 2.0. This report sets out in this direction” – Ashish Kumar, Member, FICCI Travel Technology Committee.
The proposed knowledge paper aims to create an immense value for all stakeholders including the government for future policy making, Industry associations to help in potential risk mitigation, businesses & corporates to glimpse into the future and create new business propositions for a sustainable growth in the Travel, Tourism & Hospitality Sector.
The report will be available to all the registered delegates of Digital Travel, Hospitality & Innovation Summit, March 22-23, FICCI, Federation House, New Delhi. More details here.
FICCI also recently announced the launch of Travel Tech Launchpad to encourage growth and innovation for travel startups. Some of the leading investors active in the travel space will be joining us there to gauge the potential and provide their guidance to the participating startups.