Hyper-personalization: Will it contribute to sales and the travel industry in 2024?

As hyper-personalization goes beyond the usual strategies that have been used so far to benefit travel needs, there are advances in artificial intelligence and machine learning that may be able to provide the necessary services that travelers need.

Martin Eade from travel search and booking technology provider Vibe believes there’s a lot riding on this. “This is the holy grail of personalization and the first company to get this right will have a real first mover advantage. After all, why would customers switch from a hotel or airline that can anticipate their needs before they even know them themselves?”.

“The aim is to create strategies that make each guest feel special and unique, instead of feeling like a faceless member of a generic market segment. But before companies can achieve hyper-personalization, they need to shift their focus from the product to the client, developing a customer-centric strategy. Harnessing data will help them to understand exactly who their clients are, how they behave, and what they expect when they come to stay at a hotel, or travel on a specific airline.” commented Rubén Sánchez, CEO of the leading hotel revenue management platform BEONx.

Another way artificial intelligence can enable hyper-personalization is via automation. “Valuable, quick ‘recipes’ for automation will allow hoteliers to create predictable, reliable processes so they take their hands off keyboards and create more unique human-to-human interactions. At Cloudbeds, we’re building toward a world where AI-powered automations check out guests, trigger emails for last-minute reservations, add notes for housekeeping when a VIP guest arrives, and create in-depth reports with insights that drive better decisions. When a hotelier’s days become less manual, their guests’ personalized experience will soar.” said Adam Harris, Co-Founder and CEO of Cloudbeds. At the same time, Mr. Harris believes that hospitality technology platform powers more bookings and happier guests for independent accommodation operators around the world.

Gareth Matthews, Chief Marketing Officer at global travel distribution provider Didatravel thinks the industry might finally be in a position to offer elements of this to travelers in 2024.  As a final thought Craig Everett, Founder and CEO from Holibob, the experiences tech provider to tourism boards and online travel sellers, comments that hyper-personalization might lead to a related new trend: hyper-localisation. “Not only do these new technologies empower travel companies to develop a more intricate knowledge of their traveller, but they also fast-track deeper contextual understanding of their interests in relation to their destination. This has the opportunity to unlock a level of hyper-local, hyper-relevant online recommendations that could finally push the experiences sector into the online realm.

Source: Money-Tourism.gr

British Airways Partners with Amadeus for Aviation Retailing Transformation.

Amadeus’ next-generation technology will deliver simplicity, agility and an improved customer experience.

The agreement is a milestone for the aviation industry on its path to modern retailing and the use of dynamic Offers and Orders

The agreement enables British Airways to deliver on its ambition to be at the forefront of retailing transformation.

British Airways has selected Amadeus as its technology partner and Amadeus Nevio, a new portfolio of modular solutions built on open and AI technology, to deliver the airline’s Offer and Order strategic goals.

The partnership will see British Airways and Amadeus collaborate on the design of Nevio’s Offer and Order capabilities, designed to meet the needs of modern airline retailers. Nevio’s Offer suite will facilitate more dynamic products and bundles, whilst Dynamic Offer Pricing is being rolled out to enable real-time contextual pricing options based on marketplace dynamics. A suite of Digital Experience tools will underpin a user-friendly booking experience and streamline servicing, including disruption, on any device or channel.

Working together these will produce highly relevant, personalized customer offers, and deliver a best-in-class retailing and servicing experience for customers.

Built around IATA Offer and Order principles, this totally new, open, modular platform benefits from the latest advances in AI and will help the carrier build demand, differentiate itself in the market and drive value across its entire business at speed.

Maher Koubaa, Executive Vice President Travel Unit and Managing Director EMEA, Amadeus, said: “We see Amadeus’ partnership with British Airways as truly transformative. We’ve been working closely with British Airways for more than 20 years and we’re delighted that the airline has once again agreed to be a driver customer to shape the future of the aviation industry. The milestone partnership unveiled today is a significant step in our journey to making modern retailing a reality, with the deployment of rich, dynamic, personalized offers and next-generation order management.”

Colm Lacy, British Airways’ Chief Commercial Officer, said: “At British Airways we are on a journey to become a world leader in airline retailing and transform our digital customer experience, all underpinned by our £7bn investment to transform our airline. Alongside our partners at Amadeus, British Airways will be able to collaborate on the design of the latest technology to enhance our business processes with greater agility, and help us anticipate the needs of modern, digital travelers, providing them with exceptional experiences across their journey.”

Amadeus’ partnership with British Airways showcases a commitment to support an ambition on the part of the International Air Transport Association (IATA) to create a wholly Offer and Order based retailing environment by 2030. The open platform technology being developed by Amadeus enables the airline to be innovative in its approach to retailing and revenue opportunities and is designed to grow with the airline’s business ambitions.

Source:   Breaking Travel News

Dubai airport: Full schedule resumes after flooding chaos

Dubai’s major airlines say they have resumed a full flight schedule after torrential rain hit the United Arab Emirates and neighbouring countries causing chaos at Dubai airport.

Emirates and flydubai said operations were back to normal on Saturday but a passenger backlog remained.

The boss of Emirates said the airline’s response was not perfect.

The storm battered the UAE on Tuesday, causing flash floods and bringing travel through the airport to a halt.

Priority will be given to passengers whose travel plans had been disrupted.

A flooded taxiway meant planes were unable to reach the runway to take off and passengers were left stranded in the terminal building,at Dubai International Airport.

The president of Emirates, Sir Tim Clark said: “Passengers previously stranded in the airport transit area have been rebooked and are en route to their destinations.”

The open letter posted on the airlines’ website on Saturday, announced that regular flight schedules had been restored, but it would take them “some days” to clear the backlog of rebooked passengers. A taskforce has also been established to sort and deliver the around 30,000 pieces of luggage left behind.

“We ask for our customers’ patience and understanding,” Sir Tim said. Apologising to their customers, he acknowledged that their response was not “perfect”, citing a lack of information and confusion in the terminals.

Earlier this week, air passengers stuck at the airport told the BBC of the “pure chaos” they saw.

Sarah Jane Cahill from Dublin, had planned to board her connecting flight from Sydney to Dublin on Thursday afternoon, but was still at the airport on Friday night.

She said that “thousands are stranded” and that the airport was “a sea of bodies on every surface”.

“There were people in chairs, couches, on the floor outside bathrooms, sleeping on cardboard,” she told the Press Association.

Over the past three days, the airline has cancelled nearly 400 flights and delayed many more.

Some inbound flights resumed on Thursday, while outbound flights continued to be delayed. They later announced that check-in was open at Terminal 3 for Emirates and flydubai flights.

Flydubai’s travel update on Saturday said they had returned to operating its full flight schedule from Terminal 2 and 3, with priority over the next few days to be given to their “passengers whose travel plans have been impacted.”

Similarly, Emirates said their focus was on those who have faced travel disruptions.

Sir Tim added they had suspended check-in for departing passengers, embargoed ticket sales and stopped connecting passengers from arriving to make sure the focus was on affected customers.

With flights running on their regular schedules, Paul Griffiths, the head of Dubai airports, said departure flow is “improving”.

Dubai International Airport is the world’s second busiest airport, serving more than 80 million passengers in 2023. This year, nearly 90 million are expected to pass through the hub, which is a major connecting point between Europe and Asia.

Source: BBC

Navigating Payment Turbulence — Unraveling Payment Processing Challenges in the Travel Industry!

In an era where technology has seamlessly woven itself into the fabric of our daily lives, the travel industry stands at the intersection of innovation and complexity. Amidst the excitement of planning vacations and exploring new destinations, the intricate web of payment processing challenges often go unnoticed. In this comprehensive blog, we will delve into the nuances of payment processing in the travel industry, unraveling the complexities that both businesses and consumers encounter.

  1. Cross-Border Payment Friction —

One of the foremost challenges faced by the travel industry in payment processing is the complexity of cross-border transactions. As travelers jet off to explore new horizons, payments traverse international borders, encountering diverse currencies, regulations, and financial systems. This intricacy often leads to currency conversion issues, delayed transactions, and additional fees, leaving both consumers and businesses grappling with a less-than-optimal payment experience.

Solutions:

Multi-Currency Support: Implementing payment systems that seamlessly support multiple currencies can mitigate the impact of currency conversion issues, providing users with a transparent and hassle-free payment experience.

Regulatory Compliance: Staying abreast of and adhering to international financial regulations is crucial. Collaborating with payment processors well-versed in cross-border compliance can help navigate the complex regulatory landscape.

  • Fraud Risks and Security Concerns —

As online transactions surge, so do the risks associated with fraud and security breaches. The travel industry, with its high-value transactions and vast array of customer data, becomes a lucrative target for cybercriminals. From stolen credit card information to identity theft, the potential consequences of inadequate payment security measures are significant.

Solutions:

Tokenization: Employing tokenization technology can enhance security by replacing sensitive payment information with unique tokens. This minimizes the risk of data breaches and ensures that customer data remains protected.

Two-Factor Authentication (2FA): Implementing robust authentication processes, such as 2FA, adds an extra layer of security, making it more challenging for unauthorized individuals to gain access to sensitive information.

  • Dynamic Pricing and Transparent Payments —

The dynamic nature of pricing in the travel industry, with fluctuating fares and real-time availability, poses a unique set of challenges in payment processing. Consumers expect transparency in pricing, and any discrepancies or hidden fees can lead to dissatisfaction. Ensuring a seamless payment experience amidst the constantly evolving pricing landscape requires innovative solutions.

Solutions:

Real-Time Price Adjustments: Implement systems that dynamically adjust prices in real-time, ensuring that customers are charged accurately based on the latest information, and transparency is maintained throughout the booking process.

Clear Communication: Providing clear communication on pricing details, including taxes and fees, helps build trust with customers. Transparent payment processes contribute to a positive user experience and can lead to increased customer loyalty.

  • Mobile Payments and User Experience —

The ubiquity of smartphones has transformed the way people interact with businesses, including travel services. Mobile payments have become a cornerstone of the industry, but optimizing the user experience on mobile platforms presents its own set of challenges. From responsive design to intuitive interfaces, ensuring a seamless mobile payment experience is imperative for customer satisfaction.

Solutions:

Mobile-Optimized Interfaces: Designing user interfaces specifically tailored for mobile devices enhances the overall payment experience. Intuitive navigation and responsive design contribute to smoother transactions on smartphones and tablets.

Mobile Wallet Integration: Embracing popular mobile wallets and payment apps streamlines the payment process. Integrating options like Apple Pay, Google Pay, and others caters to the preferences of mobile-savvy travelers.

  • Integration with Emerging Technologies —

The rapid evolution of technology introduces both opportunities and challenges for the travel industry. Integrating with emerging technologies such as blockchain, artificial intelligence (AI), and machine learning (ML) can revolutionize payment processing but requires careful consideration and strategic planning.

Solutions:

Blockchain for Security: Leveraging blockchain technology can enhance security and transparency in payment transactions. Blockchain’s decentralized nature reduces the risk of fraud and ensures the integrity of financial transactions.

AI and ML for Fraud Detection: Implementing AI and ML algorithms can strengthen fraud detection mechanisms. These technologies can analyze patterns, detect anomalies, and adapt to evolving threats, providing a proactive approach to security.

  • Regulatory Compliance and Legal Complexities —

The travel industry operates on a global scale, subject to a myriad of regulations and legal frameworks. Ensuring compliance with diverse international and local laws poses a significant challenge for payment processors and businesses alike. Failure to navigate these regulatory waters diligently can result in legal consequences, fines, and reputational damage.

Solutions:

Legal Consultation: Collaborating with legal experts specializing in international payment regulations can provide invaluable insights. Establishing a robust legal framework ensures that payment processes align with the various compliance requirements across regions.

Regular Compliance Audits: Conducting regular compliance audits helps identify any gaps or changes in regulations. Staying proactive in adapting to evolving compliance standards minimizes the risk of legal complications.

  • Chargebacks and Dispute Resolution —

Chargebacks, often stemming from customer dissatisfaction, unauthorized transactions, or fraud, are a common concern for the travel industry. Disputes can lead to financial losses, strained customer relationships, and added administrative burdens. Resolving chargebacks efficiently is crucial to maintaining a positive payment ecosystem.

Solutions:

Effective Communication: Establishing clear communication channels with customers can prevent misunderstandings that may lead to chargebacks. Timely and transparent communication regarding policies, refunds, and dispute resolution can foster trust.

Robust Documentation: Maintaining thorough documentation of transactions, including booking confirmations, terms of service, and customer communications, strengthens the merchant’s position in case of disputes.

  • Infrastructure Scalability and Reliability —

The travel industry experiences fluctuations in demand, especially during peak seasons and special events. Payment processing systems must be scalable to handle sudden spikes in transactions without compromising speed and reliability. Downtime or processing delays can have severe consequences, affecting customer satisfaction and revenue.

Solutions:

Cloud-Based Solutions: Utilizing cloud-based payment processing systems allows for scalability and flexibility. Cloud infrastructure can handle increased transaction volumes during peak periods, ensuring a seamless payment experience for customers.

Redundancy and Failover Mechanisms: Implementing redundancy and failover mechanisms in payment systems ensures uninterrupted service. Redundant servers and backup systems can mitigate the impact of hardware failures or other technical issues.

  • Collaboration and Interoperability —

The travel industry consists of a complex ecosystem of service providers, including airlines, hotels, travel agencies, and payment processors. Ensuring seamless collaboration and interoperability between these entities is essential for a cohesive payment experience. Incompatibility or communication breakdowns can lead to inefficiencies and errors in transaction processing.

Solutions:

Standardized Protocols: Adhering to industry-standard protocols for data exchange facilitates interoperability between different components of the travel ecosystem. This ensures that information flows seamlessly across various platforms.

Collaborative Partnerships: Establishing strong partnerships and collaborations between travel service providers and payment processors enhances communication and interoperability. Shared platforms and integrated systems can streamline payment processes.

Conclusion —

In conclusion, the payment processing challenges faced by the travel industry are multifaceted, requiring a holistic and strategic approach. From cross-border complexities to security concerns and regulatory hurdles, addressing these challenges demands a combination of technology adoption, regulatory compliance, and a commitment to customer satisfaction.

The industry’s future success hinges on its ability to adapt to emerging technologies, foster collaboration, and prioritize the security and transparency of payment processes. As we navigate the ever-evolving landscape of global travel, overcoming these challenges will not only enhance the efficiency of payment processing but also contribute to a positive and memorable experience for travelers worldwide. The journey toward a seamless payment horizon in the travel industry is ongoing, marked by innovation, resilience, and a dedication to elevating the overall travel experience.

Source: Pulse

UN Tourism ranks East Africa among most open regions for travelers.

East Africa has been ranked among the most open sub-regions in the world in terms visa openness as global travel recovers to pre-pandemic levels, a new report by UN Tourism shows.

The United Nation’s tourism agency in its Visa Openness Report 2023 said East Africa stands out as the most welcoming subregion globally particularly due to its visa-on-arrival policy, which allows 46 per cent of the travellers of the world to obtain a visa upon entry, and its eVisa system, which is available to 36 per cent of international tourists.

“Visa-on-arrival policies are comparatively common in East Africa (46 per cent), South Asia (38 per cent), South-East Asia (36 per cent) and West Africa (32 per cent). eVisa programmes are prevalent in West and East Africa (36 per cent) and South Asia (31 per cent), while North Africa, Central America, Northern and Western Europe do not offer eVisas,” UN Tourism said in the report.

Kenya and Rwanda last year removed Visa requirements for all African travels, decisions that were lauded as a step towards opening African borders. Kenya has also launched a new eVisa platform for travellers from elsewhere.

As part of a new visa regime, travellers from countries that require the document to enter Kenya are now required to have an electronic visa (e-visa) before boarding a plane.

Overall, the lifting of Covid-19 travel restrictions have seen improvement in destinations’ openness.

“Destinations’ openness to international travel has rebounded to pre-pandemic levels following the lifting of COVID-19 related travel restrictions. As a consequence of the pandemic, new forms of travel facilitation, such as “nomadic visas”, also appeared,” the report said.

Ease of accessing visa is important to promoting tourism growth. According to the report, fewer people worldwide now require a traditional visa to travel, falling from 77 per cent in 2008 to 59 per cent in 2018, and then to 47 per cent in 2023.

At the same time, 21 per cent of the world population do not need any form of visa, an increase from 17 per cent in 2008 and 20 per cent in 2018 while 14 per cent of the world population can apply for visa on arrival, an increase from 6 per cent in 2008 and 15 per cent in 2018.

About 18 per cent of the world population can apply for eVisas, an increase from 3 per cent in 2013 and 7 per cent in 2018.

Source: Standard Media  

Navigating the Future: Empowering Travel and Tourism Through Online Payments

18 Apr 2024 – By Bryan Obala.

In the fast-evolving landscape of travel and tourism, the role of online payments has become more vital than ever before. Projections indicate that by 2033, the industry will soar to a staggering $15.5 trillion, contributing significantly to the global economy bloomberg. Particularly in developing markets across Africa, where new destinations are emerging as hotspots, the potential for growth in the travel industry is immense.

To capitalize on this growth, travel merchants must align with consumer expectations by offering seamless and reliable payment systems, with online sales projected to constitute 74% of total revenue by 2027. Here are five essential strategies that can help travel merchants meet these increasingly high consumer demands:

  1. Transparency: Be clear and specific about the payment options available to consumers. Transparency builds trust and enhances the buying experience.
  2. Security: In an era of burgeoning travel e-commerce, robust cybersecurity measures are indispensable. Offering secure payment options helps instill confidence and protects against fraud, which saw a concerning 156% increase in the global travel and leisure industry in 2021.
  3. Convenience: Tailor payment options to meet consumer preferences. Personalized services, including currency options and bundled offerings like travel insurance, enhance convenience and satisfaction.
  4. Reliability: High authorization rates are key indicators of success. Optimizing authorization rates not only drives incremental revenue but also fosters customer loyalty and repeat business. Even a slight improvement in authorization rates can translate into significant additional revenue, enabling businesses to fund expansion and innovation initiatives.
  5. Flexibility: Embrace Buy Now, Pay Later options to accommodate the diverse financial needs of travelers. Offering flexible payment solutions encourages purchase completion and enhances the overall shopping experience.

Looking ahead, the future of travel and tourism is brimming with possibilities. As businesses chart their course forward, prioritizing transparency, security, convenience, reliability, and flexibility will be paramount. By embracing these principles, merchants can navigate the dynamic landscape of global travel and ensure that everyone reaps the economic benefits of this thriving industry.

High flight ticket taxes and fees slowing air transport in Africa.

Taxes and fees charged on African air tickets are higher than what airlines in other continents charge and are inhibiting air transport on the continent. According to the African Airlines Association (Afraa), a leading trade association of airlines based in Ghana that researches aviation, the average amount paid in taxes and fees by passengers in Africa is more than twice what air travelers in other continents pay.

Taxes and fees on African air tickets averages $64 while in Europe it averages $30 per ticket while it is even lower in Middle East at $29.65.

The high add-on fees have inhibited the growth of air travel on the continent that is grappling with high poverty rates.

Regionally, Western and Central Africa rank as the most expensive regarding international passenger charges averaging $94.59 and $93.74.

Unfriendly Environment

However, passengers from Northern Africa pay the lowest in taxes and fees averaging $26.27. The charges have been blamed on the unfriendly business environment, poor governance and less subsidies given to airlines in Africa compared to those abroad.

East African Business Council in a study on air space liberalization in the EAC shows average departure charges account for 13 percent of the ticket prices for flights in EAC and eight percent for flights to other African countries. Afraa notes that despite efforts by airlines to offer passengers low fares, taxes and fees cause total ticket prices to more than double of the base rate.

“The low purchasing power in Africa calls for interventions to evaluate the issue of high taxes and fees to stimulate demand and make air transport affordable to African citizens”, Afraa recommends.

Apart from passenger taxes levied directly on the ticket, airlines incur other charges connected to their operations in airports such as aircraft charge, landing, parking, passenger bus, and hangar among others.

Operational Costs

In 2019 as noted by Afraa, the International Civil Aviation Organization, a United Nations agency, regulations stipulated fuel that accounted for 24.7 percent of operational costs by African airlines was not to be taxed.

However, other particular taxes and fees are applied to passengers.

Source: Business Daily Africa  

Accessible Tourism Emerges as A Vital Growth Opportunity for Africa’s Travel Industry.

The untapped potential of inclusive tourism to drive the growth of Africa’s travel industry was in focus at this year’s Africa Travel Week 2024 part of WTM Africa. A diverse panel of advocates, experts, and tourism suppliers engaged in a discussion, highlighting the significant economic benefits that travelers with disabilities can bring to the continent.

Inclusive travel is a billion-dollar industry that Africa can tap into, and the panelist’s emphasized the unique spending patterns of this market segment. Travelers with disabilities often spend more, travel with companions, and stay for longer periods, making them a lucrative target for the industry.

According to the World Health Organization, over 1 billion people worldwide, or 15% of the global population, live with disabilities. This vast demographic encompasses a range of visible and invisible conditions, from mobility issues to cognitive and sensory challenges. As the world’s population ages, with the number of people over 60 expected to double by 2050, the need for accessible travel is only expected to grow.

“It’s not just a social imperative, it’s a financial one,” said Tarryn Tomlinson, CEO of LiveAble. “The onus is on property owners to make their facilities as accessible as possible.”

Panelists highlighted the unique challenges faced by travelers with disabilities, from a lack of information about accessible amenities to physical barriers that limit their ability to fully enjoy their travel experiences. “Disability doesn’t mean the same for everyone,” said Lois Strachan, host of podcast A Different Way of Seeing. “Needs are different, and we need to engage with them to find out what they need. Information about how you can accommodate their needs is the most important thing for travelers with disabilities.” She stated that guesthouses and hotels should incorporate this into their marketing to attract differently abled travelers. 

Jabaar Mohamed, the Provincial Director for DeafSA Western Cape, shared the specific challenges faced by deaf travelers, such as being offered wheelchairs at airports despite their hearing impairment. “It’s important for all those that work in hospitality to be trained to ask individual travelers what their needs are, rather than making assumptions,” he said. 

Panelists shared inspiring success stories and best practices from destinations and businesses that have embraced inclusive tourism. Briony Brookes, representing the City of Cape Town, highlighted the city’s “Limitless CT” initiative, which includes features like braille QR codes at street art and audio options on the tourism website.

“We want to appeal to all travelers, not only those that are fully abled,” Brookes stated. “We’ve seen fantastic results since we made small changes to showcase how we are a welcoming and inclusive destination.”

The session concluded with a call to action for the African tourism industry to recognize the significant opportunities presented by the accessible travel market and to work towards making the continent a more inclusive and welcoming destination for all.

Source:   Africa.com

Bridging the Gap between Fintech and Traveltech.

The integration of finance and technology, known as fintech, has revolutionised traditional banking and payment systems, transforming how we live, work and travel. Similarly, travel technology, or traveltech, has empowered travellers with convenient booking platforms and personalised experiences. It makes sense then that significant opportunity exists to bridge the gap between these two sectors to unlock their full potential — particularly in Africa.

Africa’s travel and tourism sector has immense growth potential. But a major hurdle that first needs to be overcome is the large percentage of the continent’s population who remain unbanked, particularly when it comes to facilitating payment for travel and tourism services. Additionally, there is a need to digitise existing products and services to enhance market access and the experience for all travellers and improve operational efficiencies for businesses operating in the sector.

From a fintech perspective, it is crucial to identify ways to facilitate transactions between businesses in the tourism sector and payment oversight entities. One successful example of this is mobile money, which has gained significant traction across Africa with platforms like M-Pesa in Kenya leading the way. Integrating mobile payment solutions into traveltech platforms can cater to the large unbanked population and provide convenient payment options for travellers throughout the continent.

Cross-border remittances already play a critical role in many African countries, as they heavily rely on payments made from the diaspora. Fintech can help here by facilitating affordable and convenient cross-border money transfers for travel purposes. Blockchain-based solutions, for instance, can reduce costs, improve transparency, and accelerate the speed of transactions, benefiting both travellers and their families.

Fintech platforms can introduce micro-investing or savings features specifically designed for travel purposes. By enabling individuals to save small amounts of money regularly, these platforms can help people build travel funds over time. Fintech solutions can also address the challenges of financial inclusion in Africa by leveraging alternative data sources for credit scoring and providing access to credit for individuals with limited formal banking history. This can empower more people to travel and support the growth of domestic tourism within the continent.

To better incorporate fintech into existing traveltech solutions, online travel agencies and digital travel platforms should consider integrating fintech solutions to streamline payment processes, provide secure transactions, and even offer financial services like micro-insurance or access to credit for travel expenses. Platforms like Airbnb, for instance, which have already disrupted the traditional accommodation industry could benefit from fintech integration to facilitate seamless and secure payment processes between hosts and travellers.

Africa’s rich natural and cultural heritage presents opportunities for sustainable tourism initiatives. Fintech can support impact investing in sustainable tourism by providing crowdfunding or investment platforms that connect travellers, local communities, and investors interested in supporting environmentally friendly and socially responsible travel projects. This could be realised through peer-to-peer lending or crowdfunding that supports the growth of alternative accommodation providers or local travel start-ups in Africa.

Loyalty programs are an essential tool for fostering customer loyalty and engagement in the travel industry. By leveraging fintech solutions, data analytics, and social impact initiatives, loyalty programs in Africa can enhance the customer experience. Personalised rewards based on local preferences can be integrated into mobile-first solutions, further driving customer retention, repeat bookings, and overall industry growth.

While there are significant benefits to integrating fintech and traveltech, it is crucial to address potential risks. Data breaches, identity theft, and unauthorised access to financial accounts are serious concerns that must be mitigated through robust security measures. Seeking guidance from mentors or professionals, implementing backup plans and alternative payment methods, prioritising data privacy, and complying with regulations are essential steps in managing these risks.

Regulatory compliance is another critical aspect to consider. Fintech and traveltech platforms must understand and adhere to relevant financial regulations, such as anti-money laundering (AML) and know-your-customer (KYC) requirements, to ensure compliance and build trust among users.

Moreover, the travel industry is susceptible to market volatility, geopolitical events, and natural disasters. To offset these risks, platforms must diversify their offerings, have contingency plans, and stay updated on market trends and advisories.

Access to capital can also be a challenge for fintech and traveltech solutions. Limited credit history or collateral may hinder entrepreneurs and businesses from accessing the necessary funds. It is important then to carefully evaluate fintech lending platforms and ensure alignment with financial capabilities.

Bridging the gap between fintech and traveltech holds immense potential for Africa’s travel and tourism sector. By incorporating fintech solutions into existing traveltech platforms, we can enhance payment processes, facilitate secure transactions, promote financial inclusion, and support sustainable tourism initiatives. However, it is vital to address potential risks and challenges through robust security measures, regulatory compliance, and contingency plans. With careful implementation and collaboration, fintech and traveltech can work together to unlock the full potential of Africa’s vibrant travel industry..

Source: bbrief.co.za

Etihad Airways Unveils Daily Service to Nairobi reconnecting East Africa with the UAE.

12 Apr 2024 – By Bryan Obala.

Etihad Airways is gearing up to reconnect East Africa with a brand-new daily service to Nairobi, slated to kick off on May 1, 2024.

In partnership with the Kenya Association of Travel Agents (KATA), Etihad Airways is pulling out all the stops for a spectacular launch event. This exclusive occasion will take place at the newly inaugurated JW Marriott Hotel, the tallest hotel in Kenya boasting an impressive 35 storeys.

This non-stop flight will whisk passengers from Etihad’s hub in Abu Dhabi to Nairobi, with departure scheduled for 9:05 and arrival at 13:15 local time. Return flights will depart Nairobi at 18:10, arriving back in Abu Dhabi at 00:20.

Operating this route will be the Airbus A320 aircraft, boasting both business and economy cabins to cater to diverse passenger needs.

Beyond simply facilitating travel, this service heralds a vital reestablishment of direct commercial connections between these two vibrant cities. It’s poised to catalyze a surge in cross-business collaborations and trade opportunities between the United Arab Emirates and Kenya.

Excited to embark on this journey? Tickets are already available for purchase via Etihad Airways’ website. Secure your seat now and get ready to explore the wonders of East Africa like never before!