
The travel industry is in a league of it’s own.Uncontested.Unstoppable.Developing complimentary markets like acomodation, transport,food, wellness,finance in addition to it’s own. Funding and taking them to new heights.
Such has been it’s impact that nations have now started to realize the importance of “destination marketing” to attract more tourists. Not simply for financial rewards but also for cultural diffusion.
In the last decade tourism has been the biggest driver of digital growth. Bold claim? You decide.
Why do people use Instagram? What category of posts are most popular on Facebook? How are hotel rooms being sold? How are airline tickets being booked? How do you research for a new place to go?
It seems paradoxical that an industry that is experiential, natural and physical should be seen as a poster child for the adoption of digital/electronic technology. But that’s exactly what it is.
What has the travel industry gotten right that it’s digital transformation journey became so seamless.
Was it the lack of regulatory hurdle? Certainly not. As is evident from stringent visa and passport application requirements in addition to geo political complexity.
“Maybe it was due to external capital infusion by lenders?”
Maybe. But then can you point to any one investor that invested in travel to transform the market for the whole world? Our search proved futile. And infact we discovered that most investors were averese to investment in travel.
“Then surely it has rided on the wave of technology”
That is a more moderate claim. But if that is true then how come travel has adapted so well where as others like say education, finance,agriculture, medicine, manufacturing, energy have responded meekly.
What is it about travel that seems to turn all the technological trends in it’s favor? Smart phones,social media,airlines,civil construction, the internet.
How has travel managed to elicit such an enthusiastic participation from the consumers and partners?
What can we learn from the travel industry and apply it to others businesses to simplify their digital transformation journey?
A lot of things. But a few aspects stand out.
1. An open embrace of social media and other internet technologies.
2. A consumer oriented approach. Not just in what you sell but also how you sell it. A practice of going to where the customers are rather than waiting for them to come to you. An inclination to serve rather than to earn.
3. But most importantly an open mind and open heart. A belief in the spirit of discovery. The flexibility of mind to accept and welcome change. And an understanding that new breakthroughs can lead to something better.
The success of travel industry is not an accident contingent upon the presence of acquisition of natural, breathtaking locations. Rather it is its principles, practices and beliefs that puts it heads and shoulders above the rest.
Digital transformation is not so much about digital technology as it is about the state of mind. Travel industry had the right inclination that allowed it to gain the benefits of technology.
That is what other industries should look to emulate.