Internet travel booking revenue has grown by more than 73% over the past five years , and the travel and tourism industry is one of the world’s largest industries, with a global economic contribution of over 7.6 trillion U.S. dollars in 2016.
For travel organisations operating in this sector, technology is continuing to play a key role in the growth and capabilities of market expansion, and this is especially true when it comes to payment processing.
A number of new rules and regulations set to impact the travel industry have potentially damaging implications on travel organisations’ operating profit and market competitiveness. However, there are solutions available which have the capacity to turn the profit loss into profit gain – by leveraging technology and payment capabilities as a route to open up new revenue streams.
This whitepaper will explore in detail both the regulations that will be imposed upon travel organisations, and how to mitigate the risks and channel them into new business opportunities.