The future of travel: artificial intelligence could replace travel agents
Tourism is booming around the world, especially in Asia, where a growing middle class is spending more on leisure travel. According to a recent study by the Boston Consulting Group (BCG), global spending on travel could triple from $5 trillion a year to more than $15 trillion by 2040. However, travel agents may not be the main beneficiaries of this growth – emerging markets are already turning to artificial intelligence (AI) to help them plan their trips.
More than half of people in China, India, Vietnam and Saudi Arabia – 65 percent in China – use AI-powered tools or chatbots to plan and book their trips. These countries are increasingly outpacing traditional tourism powerhouses, as the demographics and needs of travelers are radically changing.
Trends show that millennials and millennials dominate the travel market, traveling more alone and combining business and leisure travel – especially in the Asian countries mentioned above. The need for digital convenience, mobile-enabled services and personalized experiences has become a defining factor. Social media and the opinions of other travelers have become a much more important factor than traditional advertising.
Despite all this, BCG research shows that 79-85 percent of travelers still consider human contact important when organizing travel – a contradiction that leaves room for traditional agencies to adapt. The future is open: if the environment changes, the actors can change with it. Travel is becoming more personal, more digital – and increasingly driven by artificial intelligence.
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