Published on : Wednesday, November 11, 2020
Digitalization and innovation are key for SMEs survival as the travel industry emerges from COVID-19’s impact according to a report by the Pacific Asia Travel Association (PATA), conducted by Twenty31 Consulting Inc. and supported by Agoda, revealed at the World Travel Market today. PATA’s research report “The role of Online Travel Agencies (OTAs) in supporting Asia-Pacific SMEs in Recovery” aims to provide insights to benefit small and medium enterprises (SMEs) in the hospitality and tourism space that make up a large proportion of travel providers, as they pivot and adapt in the face of COVID-19.
With the pandemic dramatically changing how and where consumers travel, it is essential for hospitality businesses, especially SMEs, to adapt their operations to thrive within a digital global ecosystem. The report highlights key areas where digital travel platforms and governments can support tourism SMEs in the Asia Pacific region.
The study also looks at the changing landscape of the travel and tourism industry and how OTAs have rapidly accelerated the growth in the region where APAC-based OTAs represent more than a third of global gross bookings.
“Online Travel Agencies (OTAs) play a crucial role in the recovery process, where SMEs can leverage their data and digitize in order to adapt and build long term resiliency. We are optimistic that the industry will eventually recover with governments and private sectors coming together to ensure that no one gets left behind. We look forward to working with our partners, such as Agoda, as we continue to hear from SME operators and how we can advance the discussion around the future of travel and tourism in the Asia Pacific region, one that is sustainable and inclusive for all,” says Dr. Mario Hardy, CEO of Pacific Asia Travel Association.
“Successful hoteliers use data and technology for price and marketing optimization. Increasingly, many SME tourism enterprises find themselves on the wrong side of the tech moat – unable to do complex data analytics and global marketing in-house. This report shows how SMEs successfully leverage platforms like Agoda to enjoy the benefits of technology to reach laser-targeted audiences in the far corners of the world. Agoda also helps SME hotels participate in several government partnership programs in Asia. SMEs are calling for further collaboration between governments and tech platforms to help revitalize the hard-hit tourism industry.” says Greg Wong, Managing Director of Global Affairs at Agoda.