A new survey from Travel Technology Europe shows that travel and hotel technology buyers will be prioritising spend on new technologies that improve the customer experience in 2018.
Content marketing, payments and guest-facing experiences look set to be the biggest areas of new technology expenditure for 2018.
The top areas prioritised for new tech spend are:
Content marketing
Payments
Guest-facing experiences
Mobile/omni channel
Security systems
Artificial intelligence
Blockchain
Virtual reality
GDPR the biggest technology challenge
The research suggests that GDPR compliance will be the biggest technical challenge of 2018. This is followed by managing NDC processes, keeping up with competitors and keeping travel and hotel websites dynamic and up-to-date. A third of buyers are unsure about their GDPR technology and strategy.
With the deadline for GDPR compliance fast approaching, three in ten travel technology buyers (29%) are still unsure or not feeling confident that they have the right technology and strategy in place. However, seven in ten (71%) are confident or very confident that they are on track to comply with the new regulations.
Hurdles to achieving new technology goals
The biggest hurdles that buyers face in achieving their ideal new technology roadmap are budget and resources. Existing infrastructure and slow adoption levels of new technologies are also common issues that need to be overcome.
The hurdles holding buyers back from their ideal new technology roadmap are:
Budget
Resources
Existing infrastructure
Slow adoption levels of new technologies
Getting senior level buy-in for new technologies
Buyers are getting serious about Bitcoin
While 5% of buyers have already invested in Bitcoin, a further 24% say they are considering investing in technologies to support the cryptocurrency in the next five years. 10% believe they may invest in the next ten years and 61% say they have no plans to invest whatsoever.
David Chapple, event director, Travel Technology Europe, said: “While travel companies face some fairly big regulatory challenges in 2018 it’s positive to see that they are still planning to invest in the customer experience and haven’t lost sight of the longer term goals. GDPR is undoubtedly a challenge and while some buyers are unsure of their strategy, there is still time to get it right. We have plenty of time dedicated to GDPR at Travel Technology Europe with speaking sessions and advice clinics available for anyone who wants to discuss or be reassured about their strategy.”
135 travel buyers took part in the Travel Technology Europe annual survey in December 2017. 66% of respondents worked in the UK, 20% in continental Europe and the 14% were from outside Europe.
Online registration is now open on the new Travel Technology Europe website: www.traveltechnologyeurope.com where free passes can be requested.
