Travel technology budgets to rise in 2017

Published on : Monday, February 6, 2017

travel-technologyTechnology budgets are on the rise for about 58% of buyers in the travel industry, as revealed by a new survey by Travel Technology Europe.


This reflects quite well from the last year since 57% of people said that their budget had been higher in 2016 as compared to 2015. A meager 10% had a smaller budget.


The research was completed by the largest technology show in Europe.


It brings to light key challenges in the travel industry that might probably surface in 2017. Additionally, it also speaks about the topics that the industry is really excited about.


About 31% of the respondents of the industry said that their budgets would stay the very same in the year 2017 from 2016. 12% said that their budgets would actually get minimized.


David Chappel who is the director for Travel Technology Europe said that though there have been a huge economic, social and political alterations on the horizon, the research of Travel Technology portrays some positive predictions for this year. Several technology budgets are continuing to increase and many people have started investing in new technologies.


Though there has been uncertainty associated with Brexit, about 13% of respondents said that it would damage their budget.


As many as 43% say that it would have no impact and 37% were not certain about how it might have an impact on their budget. And, 7% think that it might even result in an increase of the budget.


About 68% invest at least once a year. As much as 29% said that they invest at least once a year, 10% invest in every 3 to 6 months. 29% invest in every 6 to 12 months and 28% invest in every 1 or 2 years.


The travel technology is really excited about VR, social media, 3D, AI, Chatbots and so on.


These challenges and factors would be discussed in different conferences.


Panelists from Matmi and Etihad Airways would be discussing these issues in these events.


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