MANAGING in the

NEW WORLD

For biometrics, the next frontier is the travel and tourism industry. The world is traveling much more frequently, now than ever before attested by business intelligence contributed by the World Economic Forum (WEF). It states clearly that the industry generated a total of US$ 2.3 trillion in 2016. More than a hundred million tourism jobs were also contributed by the industry. This is what makes the industry, fertile ground for biometrics implementation. That is because biometrics helps ease travel processes. Tis improves customer satisfaction, but also does good for the bottom line, as things move quicker. Mobile interfaces and devices help out in the process. Cryptography is used to ensure the maximum security. This aligns with the global facial recognition market, expected to rise to worth six and a half billion dollars by 2021, as per numbers shared by Technavio.

Source:https://www.forbes.com/sites/forbestechcouncil/2019/01/09/how-the-travel-industry-is-driving-biometric-security-innovation/#44b512f36572

Uploaded Date:22 January 2019

Thecontinent of Africa has seer a surge in inbound tourist arrivals. There were a total of sixty- three million foreign visitors in the year 2017, as per business intelligence supplied by the Hospitality Report. This rise is marginally above the global average. In spite of this growth, Africa receives a far lesser proportion of the global travel pie than the leaders, Europe and the runners- up, the Asia- Pacific region. The contribution of the travel and tourism industry to the overall GDP of Africa reached a high of 12% for 2018. There are also a total reported of twenty- two million tourism jobs on the continent. The expenditures have also gone up continent- wide. An increasing number of international hotel brands are primed to entire Africa, in case they haven’t already. Even the air passenger traffic has seen a likewise rise.

Source:https://www.modernghana.com/news/908586/africas-travel-tourism-top-2018-highlights.html

Uploaded Date:22 January 2019

One of the key topics discussed at the Google Travel Executive Forum held in San Jose, was about the use of data warehousing by travel companies to gain a competitive advantage. This warehouse elicits key insights about the markets. One of the areas where the customer journey is more protracted is in finding travel accommodation. Surprisingly, the conversion rate was higher when people searched for them, rather than when they directly went to the supplier website. The mobile phone is of course is one of the most used devices now, so travel brands need to direct their digital marketing to be accessible across devices, and in particular the mobile web. To serve today’s digital traveler, the travel purchase journey needs to be embraced. The right investment needs to be made on existing capabilities to further hone them. Whatever be the company’s philosophy, it must openly converge.

Source:https://www.mckinsey.com/industries/travel-transport-and-logistics/our-insights/how-to-serve-todays-digital-traveler

Uploaded Date:10 January 2019

There is hardly any industry now that is immune to the pressures of digitization. Travel and logistics signify the two extremes. While travel is most frequently searched online, logistics is hardly searched for. As per business intelligence provided by the Kuhne Logistics University in Germany and by Google, for every eight travel related searches in 2017, there was one search on logistics worldwide. However, this alone does not mean that logistics is totally immune to these pressures while travel is most digitally mature. There are parts and sub parts within this, which are at different ends. If one studies the trends in detail, the travel and tourism industry has seen a lot of digitization occurring within the B2C segment but not anything like that within the B2B sphere. A lot of this booking and search is now taking place using the mobile. This signifies the importance of the mobile phone when it comes to digital marketing. Logistics companies on the other hand are merely providing limited digital services. Online touch points abound in the travel purchase journey. Service providers need be wary of slow page loads, as this will be a way to lose customers.

Source:https://www.mckinsey.com/industries/travel-transport-and-logistics/our-insights/travel-and-logistics-data-drives-the-race-for-customers

Uploaded Date:31st December 2018

The first customer- loyalty programme was started by the American Airlines back in 1981. Since then, this has gained currency with almost everyone else jumping in. These have also been used in selling to third parties. Unfortunately for customers, the ratio between the rewards and air miles traveled has only kept getting worse off, with trillions of frequent flier miles sitting unspent as of now. Greater amount of business innovation is needed by such loyalty programmes to generate value. For this, first of all, the airlines must look beyond merely airline seats. Late booking redemptions need also be rewarded. The redemptions must be based on a dynamic policy. The pricing policy on redeemed seats also needs a clear, strategic rethink. Whatever redemption value has to be planned, it needs a greater customer- value view. Partner airlines must collaborate more on redemption schemes.

Source:https://www.mckinsey.com/industries/travel-transport-and-logistics/our-insights/miles-ahead-how-to-improve-airline-customer-loyalty-programs

Uploaded Date:29 December 2018

Travel and tourism as an industry is worth more than a tenth of the total global GDP. There are, also a total of just short of three- hundred million tourism jobs worldwide. However, the benefits and footprints of tourism are still being accumulated by only a small cohort of countries. As per business intelligence supplied by McKinsey, the top twenty most visited countries in the world by the year 2020, will be doing more tourist numbers than the rest of the world combined. If only this number could be better distributed, then the absorption of tourists could get much easier for the planet. A new report has been prepared by McKinsey in collaboration with the World Tourism and Travel Council (WTTC) which helps diagnose ways in which the pressure could be eased off. A combination of both carrots and sticks will need to be applied to each of these overcrowded tourist destinations.

Source:https://www.mckinsey.com/industries/travel-transport-and-logistics/our-insights/coping-with-success-managing-overcrowding-in-tourism-destinations

Uploaded Date:29 December 2018

The travel and tourism industry is an uncontrollable juggernaut having huge impact on the economic, cultural and technological fronts. The World Travel and Tourism Council (WTTC) asserts that over a tenth of the world’s working population is directly or indirectly engaged in some kind of tourism jobs. The likes of Uber, Hooper, Lyft and Airbnb have made huge strides in disrupting several aspects of the broader industry. The travel experience though now needs to be safer and smoother, plus more reliable. Technology such as the use of biometrics needs to be made greater use of. Alignment between transportation and environment officials to the tourism department is a must in several parts of the globe. The public and private sectors too need to come together in this initiative.

Source:https://www.forbes.com/sites/richardlevick/2018/11/27/this-industry-has-pioneered-disruption-now-it-must-alleviate-it/#280118995080

Uploaded Date:28 December 2018

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