A White Paper by the World Economic Forum in collaboration with Accenture on shaping the digital agenda to drive growth in airlines and travel has been released and is available online. Below is some of the information extracted from the report…
Accenture expects the aviation, travel and tourism industries to look completely different in less than a decade.
“A growing customer base in emerging markets, as well as the rise of online travel aggregators and meta-search engines, is changing the competitive landscape. As $100B migrates from established players to new entrants, leaders are acting now to make digital transformation happen at speed. Who, ultimately, will own the customer relationship as ecosystem roles blur? And how will operating models have to change?”
Liselotte de Maar is the Managing Director – Accenture Strategy, Travel Industry and responsible for focusing on Digital Strategy for Travel clients.
The white paper report is available for all and it covers the Industry Context and Digital Trends. This also includes the aviation, travel and tourism ecosystem and the growing demand for travel (as per the graph below).
Other trends include the rise of the digital consumer and changes to the security landscape.
Technology trends include the rise of intelligent automation and the dominance of digital platforms.
These platform ecosystems are the foundation for new value creation. A new digital model brings new value creation opportunities and can drive improved operations and differentiated customer experiences by:
Figure below shows the comparison of market capitalization of OTAs versus traditional industry players.
According to Accenture, four themes are central to the industry’s digital transformation over the next decade as seen below:
Putting customers at the centre of travel services, and integrating physical and digital assets to deliver seamless customer journeys, are vital steps towards creating highly personalized, end-to-end travel experiences.
For those interested – the full white paper report can be found by clicking here.