Amadeus sets out vision for future of travel
Amadeus IT, the company that provides the back end information technology capability of the overwhelming majority of players in the online travel space, has released a report on the future of the travel industry. The report, designed to help the industry “steer its strategy in the right direction” is entitled “What if? Imagining the future of the travel industry”. A serious amount of work has gone into the report – consultants A. T. Kearney has conducted a series of industry workshops and interviews from across the technology and travel sectors.
Amadeus’ share price is up by 39%, year to date
SOURCE: Yahoo Finance
Researchers used the data gathered to draw up four possible future scenarios for the travel industry that accounted for a wide range of internal and external influences. Over the next five to seven years, the report stresses that “personalization and seamless travel” will be key trends. Regarding things to watch out for, it also states that “the emergence of protectionism and populism” might put a damper on the industry, hindering commercial opportunities.
Noting that – with the exception of standouts – many players in the industry are failing to adapt to an uncertain environment, Amadeus’ vice president of corporate strategy, Alex Luzarraga, said:
“"There is a lot of noise affecting the travel industry. There is widespread mistrust and populism. Things we used to take for granted, such as the right to travel across Europe without passports for example, may be less likely in the future. Companies will have to be clear on their niche or market, the needs of that market, identify their clear competitive advantage, and be consistent with that, but also flexible and agile so they can adapt as a situation evolves."
Dominion holds Amadeus IT in its Global Trends Ecommerce Fund.
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