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Travel technology, a sector with a lot of potential

2 min. reading
Travel technology / 3 August, 2021

Karla García Gil Journalist

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Technological advances are forcing many companies to be at the forefront of travel trends. Travel technology is being used from traditional and online travel agencies, tour operators, intercity transportation companies, rental companies to end users.

Travel solution providers have R&D professionals who design, develop and maintain complex information systems, accessing hundreds of thousands of users.

Technology in the travel sector is making headway with 5G, which promises much faster data upload and download speeds, wider coverage and more stable connections, opening up a range of possibilities in terms of technologies.

Advantages and disadvantages of travel technology in the Information Society

Advantages and disadvantages of travel technology in the Information Society

Learn about the advantages and disadvantages of travel technology, as well as the investment opportunities it represents.

Technologies applied to travel

  1. Big data

One of the most effective uses of Big Data is linked to revenue management, a management technique for setting prices, managing reservations and closing sales, making it a great ally in maximizing the financial results of tourism companies.

  1. Virtual reality

Allows you to visit any place in the world without having to travel. This can be very useful for choosing hotels, since sometimes photos are not reliable.

The virtual reality market is expected to reach 814 billion dollars by 2025, so it has great potential for application in the tourism sector.

  1. Geolocation and augmented reality

Geolocation can be useful to offer guests different services once they are in a hotel, since it will be possible to know when they are in the facilities.

Meanwhile, augmented reality could be useful to translate a sign written in a language that the traveler does not understand.

  1. Chatbots

Chatbots do the work of humans. Such tools are already in operation in airline ticket and lodging booking portals, with the aim of simplifying and speeding up the user experience, thanks to the robotic assistant.

  1. Cloud computing

Enables SMEs in the tourism sector to have greater storage flexibility, comply with security standards, generate reports, import/export data, ensure compliance, secure documentation management, and greater integration and connectivity for users.

  1. Predictive analytics

Such technology allows travel managers to track flights and bookings to find the best priced ones, through artificial intelligence, without a human having to take any action.

As technology is the inescapable future of humanity, we can glimpse a great potential in all those that are emerging today, of course, applied to an industry as important as travel.

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How to invest in Travel technology?

From BBVA New Gen we have compiled the companies and investment funds that are dedicated to Travel technology?. Find out how to invest in the companies that are revolutionizing the sector

How to invest in Travel technology?

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