Megatrends 2020

All-in-one software doesn’t just simplify the event planning process. It transforms the way planners track and learn from events. How these all-in-one tools evolve is starting to shape the future of the meetings industry.

There is no turning back on the transformation of low-budget hotels from the “uncategorized” class into a legitimate segment of the global hotel industry. Future technology and the rise of Gen Z will further fuel innovation and change in the design of economy accommodations — especially in Asia.

Connecting to the ends of the Earth with nonstop flights is an increasingly attractive prospect for flyers. The growing popularity of nearly day-long flights, however, is set to disrupt the economics of the airline business. Adapting will be crucial as demand from the travel industry grows.

The short-term rental ecosystem is getting bigger, which means many winners are set to emerge from the pack. Expect further brand-driven professionalization, more outside investment, and vendor consolidation. Those getting on board will benefit, but is a backlash in the cards?

Responding to the burden that tourism can bring requires more than tacking on the idea of management to tourism boards’ activities; it requires a paradigm shift in how destinations operate. That shift is under way.

Global payments technology and rules are changing swiftly, led by seamless innovations in Asia that are making life easier for consumers. Travel companies of all sizes are finally taking action in order to stay competitive.

Cities have always been incubators for innovation, but with two-thirds of the world’s population expected to live in urban areas by 2050, developments being rolled out today to accommodate that new density will serve the travel industry in positive ways.