Web In Travel

On this week's #WiTBroadcast, we reflect on the past year in travel tech and look to our industry friends for insights going into 2025. Experts like T2Impact, LLC's Timothy O'Neil-Dunne anticipate addressing tech deficits, while Thayer Ventures’ Chris Hemmeter highlights ongoing data challenges. Agoda’s Rob Rosenstein raises concerns about managing economic crises, and Trip.com Group’s Amy Wei points to AI-driven predictive travel curation. We've also got a new video highlighting key takeaways from #WiTSingapore 2024. Meanwhile, WiT founder Siew Hoon Yeoh reflects on the irreplaceable human value in 'mundane' tasks and why AI doesn't have to solve everything. Find out more ⬇️

Three days packed into 5 minutes - check out the highlights of #witsingapore2024 #nextgeneration in this video - thanks Arvindh Yuvaraj Web In Travel https://lnkd.in/g8FBq-hS

New years always begin with such anticipation while we end each year with a tinge of nostalgia, a mood of reflection and sometimes, a sigh of relief that another year is over. Well, this is it – we’re coming to the end of 2024 and as we wind down for what was yet another tumultuous year, it’s time to look back, be grateful for the good things that happened and take the bad in our stride and move onwards and upwards. As part of our annual tradition, we asked our friends what they thought of 2024 and what they are looking forward to in the new year. Here’s the first instalment featuring Robert Rosenstein, Timothy O'Neil-Dunne, Amy Wei, stephan ekbergh, Laura Houldsworth and Chris Hemmeter. https://lnkd.in/gepSUKrJ

Most of us have spent the last two decades using Google as the ultimate source of information, and it’s difficult to argue that Google hasn’t done a fantastic job of implementing their mission statement: “organizing the world’s information and making it universally accessible”. It’s easy, it works, and in many ways, it feels like it might be the most intuitive way to find information. Nobody has been crying out for some alternative format, and if some other interface or data structure was superior, Google would have evolved to it aÍÇlready. Because Google has been able to monetize the formula with Ads that don’t significantly detract from the user experience, they have largely been able to stay true to the mission of getting the customer to the information as quickly as possible. But is it optimal? https://lnkd.in/g8f_nUpg

A great case study of how Klook localised for a market like South Korea “which needs special localisation”, according to James (Zunho) Lee, who's been leading the team there since 2016. It helps to have a savvy and motivated leader like Lee who, before joining as its first employee in Seoul, went on a two-year round-the-world trip and got to appreciate how travellers of his next generation wish to explore the world. Learn how he thinks about translation, product nuances and future trends in South Korea, Asia's second largest outbound market in this piece from an interview at #witseoul with Blanca Menchaca of BeMyGuest - Tours & Activities. Have a read. #nextgeneration #toursandactivities #destinationexperiences #witseoul https://lnkd.in/gfvp4xdR

While inbound numbers to Korea are not yet back to 2019’s level of 20 million, most of it is being fuelled by the huge interest in everything K – K-pop, K-drama and K-beauty – with travellers from Asia forming the majority of visitors. But underneath the surface, there’s an indie movement taking place – by entrepreneurs passionate about Korean traditions, from hospitality to culinary, and desirous of interpreting them for the next generation of travellers seeking local stories and authentic experiences. Continue reading: https://lnkd.in/gFMv92yZ

On this week's #WiTBroadcast 🔈 #WiTSingapore and #WiTSeoul 2024 highlighted the future of travel by blending tradition and technology. At WiT Seoul, Bo Young Song, newly appointed CEO of Asiana Airlines, discussed the Korean Air-Asiana merger and its potential to transform Incheon into a global hub. Meanwhile, South Korean entrepreneurs like Dr. Michael Jiwon Ahn of Rakkojae Hanok Collection, Yuna Sun of MOULIN de SÉOUL, and Sulbi Lee of Tara Consulting are preserving Korea's heritage through boutique stays, culinary traditions, and agrotourism. Simultaneously, platforms like Klook are leveraging AI and social media to enhance travel discovery. Find out more ⬇️

Before this year winds to an end, we’re getting set to deliver a spectacular start to 2025, with our first event of the new year.  Look at who we’ve gathered to kick off the Next Generation at WiT Africa, March 12 & 13, 2025. Co-hosted by Travelstart & Innovation City Cape Town, our first event of the new year will be quite the reunion and gathering of the tribe in the beautiful setting of Cape Town. Programme and speakers: https://lnkd.in/gSs9-6Zr Joining us? Let us know below!

Hear from Mi Sun Song, CEO of 하나투어(HANATOUR), on how Hanatour is shaping a new era of travel in Korea. Through "Mingling Tours," Hanatour is tapping into the rising demand for #community-driven and special interest experiences, catering to the aspirations of young and emerging travelers with unique, hobby-focused journeys. TIDESQUARE #WiTSeoul #TravelTechConference #nextgeneration

Eugene Ko, Director of Marketing & Communications at Phocuswright shared that travel startups have faced significant challenges, with funding dropping to a 10-year low of $5.2 billion in 2023. As of Q3 2024, funding stands at $4.3 billion, indicating another year of historically low investment levels. However, there’s hope on the horizon: - Asia’s Resurgence: Countries like India are leading the way, with their funding share growing from 4% in 2019 to 14% in 2024, driven by a young, rapidly expanding middle class. - Shift to B2B: For the first time, B2B funding has surpassed B2C, accounting for 51% of total funding, driven by the rise of generative AI applications in corporate travel, data analytics, and workflow automation. - Signs of Recovery: Despite the downturn, many major VC firms have raised new funds in 2024, signaling a potential reboot in the investment cycle. On average, travel startups take 6.7 years to reach acquisition. However, with emerging technologies disrupting the travel industry, the path forward is becoming increasingly complex. Travel startups face an exciting yet highly unpredictable future. With new venture funds on the horizon, this capital will be up for grabs—whether by small #startups with bold ideas or established players with even bigger growth ambitions. TIDESQUARE Korea Tourism Organization #WiTSeoul #KTravelTechSummit2024 #TravelTechConference #nextgeneration