Issue 22: TravelTech
TravelTech — Going Beyond Discounts | The total contribution of travel and tourism to the global economy was US$8.27 trillion in 2015, according to Statista, while global tourism revenue was US$1.27 trillion. Worldwide, the tourism industry has experienced steady growth almost every year. International tourist arrivals increased from 528 million in 2005 to 1.19 billion in 2015. Figures were forecasted to exceed 1.8 billion by 2030. TravelTech is evolving rapidly, moving on from offering discounts to helping with travel planning, providing ways to make transfer money and purchases while visiting other countries, and enhancing the travel experience in a wide variety of ways including the use of virtual reality (VR) as well as augmented reality (AR). Asian TravelTech startups are keen and plentiful, the market and financial rewards are there, the investors are interested, and the consumers are set to reap the benefits. Enjoy reading this issue of Jumpstart magazine, and safe travels!