Most travel technology budgets set to increase in 2017
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Most Travel Technology budgets are set to increase in 2017, Travel Technology Europe research reveals
Technology budgets are on the rise for 58% of buyers in the travel industry, according to a new survey by Travel Technology Europe. This reflects well from the previous year as 57% said their budget was greater in 2016 compared to 2015 and only 10% had a smaller budget.
The research, which is conducted by the largest travel technology show in Europe, also identifies key challenges the industry will face in 2017 and what the industry is most excited about.
Almost a third (31%) of the industry’s respondents said their budgets would stay the same in 2017 from 2016 and 12% said their budgets would reduce.
David Chapple, event director for Travel Technology Europe, commented: "Despite there being huge social, economic and political changes on the horizon, Travel Technology Europe’s research shows some optimistic predictions for 2017. Many technology budgets keep increasing and many keep investing in new technologies every quarter."
Despite widespread uncertainty over Brexit, just 13% of respondents said it will damage their budget. 43% claim it will have no impact, 37% weren’t sure how it could affect their budget and 7% believe it may even lead to a budget increase.
When it comes to investing in new technologies, 68% invest at least once a year. Nearly one third (29%) said they invest at least once a quarter, 10% invest every 3-6 months, 29% invest every 6-12 months and 28% invest every 1-2 years.
The most common challenges predicted for the industry in 2017 are mobile, competition, fraud, social, VR and Europe, whereas the industry is most excited about mobile, VR, AI/Chatbots, payments (Blockchain), social media and 3D.
Addressing these exciting factors and challenges will be varied conference sessions such as The new reality. Are VR and AR just games or a business tool? The session will explore why Google and Facebook are majorly investing in VR and how these tools can transform the industry. Panelists from Timelooper. Etihad Airways and Matmi will discuss how this can directly pose issues and opportunities for their companies and wider across the sector.
The 14th Travel Technology Europe will see up to 6,000 travel and technology leaders gaining insight from experts and peers of the industry. Over 130 exhibitors will showcase new products alongside 15 innovative start-up companies in the Launchpad area. Its conference programme includes over 120 speakers over more than 50 sessions split into streams covering Marketing, Hospitality, Travel and Innovation.
Online registration is now open for Travel Technology Europe. Visit www.traveltechnologyeurope.com/register to apply for a free visitor pass.
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