Tourism is one of the sectors that grows most strongly in the world. It accounts for more than 10% of world GDP and everything points to it continuing to rise in 2018, thanks to a growing global economy. In order to analyse the strategies that can help companies to take advantage of this development, the consultant Deloitte collects in its report ‘Travel and hospitality industry Outlook’ the main trends of the industry for this year. The commitment to technology, innovation and personalization will be the main axes, while highlighting the importance of the human factor and betting on the employee, as a key element in customer satisfaction.

The report notes that each of the industry segments has its own obstacles to overcome but driving innovation and exploring new possibilities around the travel experience are some of the challenges that affect all sectors.

“The trends insist on innovation and technology, but always based on two main pillars. On the one hand, on the impact on the customer experience; on the other hand, in the improvement of the efficiency of the companies, in operations, logistics … “, indicates, Rocío Abella, director of Deloitte Digital and THLT sectors (Travel, Hospitality, Leisure & Transport).

Although technology largely focuses on investment and strategies for this year, the study highlights the value of the human factor. “Technology alone does not give brands all the tools they need to be successful in 2018,” according to the document, which states that it should help create authentic experiences, but without losing sight of the human connection.

In this line, in addition to putting the focus on the client, one of the novelties of the Deloitte study is its commitment to the employee. He points out that companies must invest more and acquire a greater commitment to it.

Human resources “are very important and the management of the employee is very complicated, a clear example is the world of restoration where rotation is very high,” says Rocío Abella, so “having a loyal employee is very important, it can help to improve the relationship with the client, “he adds.

The tourism industry contributes more than 10% of world GDP.

By segments, the hotel industry maintains a solid growth that is expected to continue this year. However, some analysts are concerned about a possible oversupply and do not rule out that there may be some difficulties. Deloitte’s study cites New York and Chicago as examples, where hotels try to increase rates in a large market where they have to compete with an increase in the rent of private accommodations. And he notes that some hoteliers are resorting to cuts in service or maintenance to reduce costs.

Airlines, which are undertaking major investments in technology and infrastructure, this year could face downward pressures on their margins due to lower fuel costs and competition, especially low cost, although, in return, low rates will drive the trips.

In the case of restaurants, the study highlights that they have to compete with non-traditional players and promote excellence, as well as boost employee participation.

On the other hand, the report points to a big upturn in corporate travel, as the strength of the economy boosts business activity.

Source: Hosteltur – 19.04.18