DATA and insights gathered during TravelRave 2015, a week-long travel trade showcase spearheaded by the Singapore Tourism Board (STB), and comprising events such as ITB Asia, Asia Travel Leaders Summit and Hotel Technology Conference, is now available as a 24-page downloadable report.
During the event’s sixth annual run last year, experts provided thought leadership on what is shaking up the travel industry and how all segments of tourism, whether business, leisure or MICE, are to fare in the future. Topics such as nurturing human capital and impact of the sharing economy are also discussed.
One of the highlights of the report is on online travel and technology, where the ever-evolving distribution business comes under close scrutiny. In 2015, all technology trends pointed to the streamlining of the guest experience in an effort to provide customers conveniences that would lead to loyalty in an incredibly crowded market.
But the issue gets increasingly convoluted in today’s world, where the biggest accommodation provider has no real estate and where the world’s largest taxi company owns no vehicles. If China’s 94 per cent approval rating for using sharing economy services is any indication, the peer-to-peer market is here to stay.
Another spotlight falls on human capital, bringing to the forefront issues of gender parity, nurturing of future talent, and on leadership succession.
When asked how severe the hospitality manpower crunch is, Neeta Lachmandas, executive director, Institute of Service Excellence at Singapore Management University, said: “I would say it is pretty immense. There are gaping shortfalls in talent. A fair number graduate from tourism and hospitality courses at tertiary institutions but we tend to lose a large proportion of the cohort.
“These students are highly intelligent, and they are passionate about the industry. But in the course of four years, they lose their passion and love for the industry. Why does this happen?”
Catalysing Travel and Tourism in Asia: A TravelRave 2015 Report can be downloaded on STB’s website here.
