The global travel industry has grown tremendously over the last few years due to lower prices in flights, globalization, online services, and personalized experiences. This growth is expected to double in the next 20 years and create an additional 75 million jobs within the industry. Companies such as Airbnb and Google have already taken notice of this growth and are innovating and investing fast to solidify their place within the industry.
Winning over travelers in the future will require great effort. However, the companies willing to learn as much as possible about these travelers will earn long-term loyalty during an exciting time for the industry.
Increased competition, constant evolving trends, and technological innovation has created many issues for businesses in the travel industry. However, companies seeing success are the ones who understand customer habits and tastes and have the ability to customize products, services, and channel strategies despite the diverse demographics.