Technological innovations driving the Asian travel market

Capturing the travel market in Asia is an impossible task. After all, the region is home to nearly five billion people, roughly 60% of the world’s population.

In addition to its size and scale, Asia has been relatively slow to recover from the COVID-19 pandemic, with many countries imposing restrictions long after other parts of the world have opened up.

A challenge for travel providers, indeed. But a challenge that has done little to hinder – and in fact accelerated – innovation and technology adoption in the region.

Amid the crisis, if travel suppliers haven’t digitized, they’ve been left behind, said Chan Chee Chong, CEO of Singapore-based ticketing platform GlobalTix, during a panel discussion at Phocuswright Europe. .

For example, Asian consumers are leading the adoption of fintech, Chong said, which means digital wallets are part of their daily lives. “If my customers really want to break into the Asian market, they need to accept digital payments.”

Moderated by WebInTravel’s Yeoh Siew Hoon, the panel, consisting of Chong alongside Atlas Founder and CEO Mary Li, Wego Co-Founder and CEO Ross Veitch, and Agoda CEO-in-waiting Omri Morgenshtern, discussed how their respective brands have adapted to changing consumer behaviors and how they have approached product experimentation.

They also discussed emerging technologies that will impact the travel industry – crypto and metaverse among them – as well as their outlook for the Asian market over the next five years.

Watch the full discussion below.

WiT Europe: Around Asia in One Hour – Web in Travel – Phocuswright Europe 2022

Willie R. Golden