Travel technology budgets expected to grow again in 2017

Travel technology budgets expected to grow again in 2017

Technology budgets are set to continue to rise according to research compiled ahead of this month’s Travel Technology Europe exhibition.

Research commissioned by the organisers of the two-day event, at Olympia London, found that 58% of buyers in the travel industry expect to have bigger budgets in 2017 than last year.

Only 12% are expecting to cut costs on technology while 31% say their tech budget will be roughly the same.

This continues the trend of travel tech spend, as 57% of buyers said they also increased their budget in 2016 while only 10% spent less.

Respondents were also asked whether Brexit will affect tech spending and only 13% said it would damage their budget.

The research also found that mobile is both the most exciting development in travel technology and the biggest challenge for 2017.

Respondents voted virtual reality, artificial intelligence-led chatbots, blockchain payments, 3D and social media behind mobile developments as technology that excited them.

In terms of challenges, mobile came out top ahead of competition, fraud, social media, virtual reality and ‘Europe’.

David Chapple, event director for Travel Technology Europe, said: “Despite huge social, economic and political changes on the horizon, Travel Technology Europe’s research shows some optimistic predictions for 2017.”

Up to 6,000 travel and technology leaders are expected to attend the 14th annual TTE exhibition on February 22 and 23.

The largest travel technology event in Europe, buyers and managers can check out thousands of products and services from more than 130 global travel brands and start-ups.

There will also be 15 start-ups with stands at the Launchpad section of the exhibition.

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