What are the things we wish AI could solve, and which will it never solve? Plus, what are the trends no one’s talking about yet? More answers in this third instalment of our series of Trends and Predictions for 2024 from our community of travel leaders as we ask them to share their reflections of the year and their outlook for the coming one.
Laura Houldsworth, Managing Director, Asia Pacific, Booking.com
Looking back – one word to describe 2023.
Limitless
One word you wish would disappear from the vocabulary
Overtourism
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2024?
8
Looking forward – one word to describe 2024
Integrity
Looking at your data, how would you describe the start of 2024?
Resilient
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
Ensuring team resiliency. Even with the travel industry’s ongoing strength, we know there will always be obstacles to tackle and we need to ensure that our teams are best placed to manage everything coming their way. When teams work as one, they are unstoppable… which in turn makes our business stronger.
What is the biggest opportunity for your business in 2024?
The further recovery of China’s outbound travel as well as the continued rise of the Indian intrepid traveller.
What part of your job would you like to do more of in 2024?
I would love to spend more time with our partners around the Asia-Pacific (APAC) region next year. I would like to do ‘slower’ and conscious travel in 2024, to immerse myself deeply in fewer destinations.
What’s the most interesting thing you read or watched in 2023?
A podcast on Leading with Dignity by Dr Donna Hicks, where she elaborates that unlike respect which is earned, dignity is a right that we sometimes give away too easily. When dignity is damaged, conflict arises and this is bad for business, politics and any type of relationship.
What’s the trip you want to make in 2024 to add to your memory bank?
I’m eager to revisit South Africa. It’s been a favourite destination of mine for many years and I have not been back since January 2020.
What’s the one thing you wish AI could solve?
My time management – there are never enough hours in the day.
What’s the one thing you think AI will never solve?
My Time management – a challenge that seems tough even with AI
One important trend that no one is talking about yet?
Sleep tourism – traveling to get a good night’s sleep. I can fully relate to this one!
A buzzword that will disappear this time, next year
Hybrid working – I think
Beh Siew Kim, Chief Financial & Sustainability Officer/Managing Director Japan and Korea – CapitaLand Investment, Lodging/The Ascott Limited
Image credit: Business Times
Looking back – one word to describe 2023
Unpredictable
One word you wish would disappear from the vocabulary
Covid
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2024?
8 (for travel industry)
Looking forward – one word to describe 2024
Transformative
Looking at your data, how would you describe the start of 2024?
Positive
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
Technology
What is the biggest opportunity for your business in 2024?
Experience-led/social living
What part of your job would you like to do more of in 2024?
Sustainability
What’s the most interesting thing you read or watched in 2023?
Unreasonable Hospitality by Will Guidera
What’s the trip you want to make in 2024 to add to your memory bank?
Maldives (yes, I haven’t been to Maldives!)
What’s the one thing you wish AI could solve?
All paperwork!
What’s the one thing you think AI will never solve?
Authenticity
One important trend that no one is talking about yet?
Climate Funds
A buzzword that will disappear this time, next year
Rizz
Karen Bolda, Senior Vice President of Product & Technology, Expedia Group
Looking back – one word to describe 2023
ChatGPT
One word you wish would disappear from the vocabulary
Covid
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2024?
10
Looking forward – one word to describe 2024
Opportunity
Looking at your data, how would you describe the start of 2024?
Growth
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
Helping our travel partners be successful
What is the biggest opportunity for your business in 2024?
Data
What part of your job would you like to do more of in 2024?
In person meetings
What’s the most interesting thing you read or watched in 2023?
Going Infinite by Michael Lewis
What’s the trip you want to make in 2024 to add to your memory bank?
See the Northern Lights
What’s the one thing you wish AI could solve?
Faster airplanes/shorter flights
What’s the one thing you think AI will never solve?
Ease of traveling on a flight with a dog. Also no more layovers or flight delays
One important trend that no one is talking about yet?
Need for better airport lounges
A buzzword that will disappear this time, next year
Gamification
Johannes Reck, CEO & Co-founder, GetYourGuide
Looking back – one word to describe 2023
Momentum
One word you wish would disappear from the vocabulary
Revenge Travel – experiences are here to stay, and our research shows that avid travellers are driving that trend. It’s not about making up for lost time anymore, it’s about seeking adventures at any time as inspiration strikes.
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2024?
9
Looking forward – one word to describe 2024
Digital
Looking at your data, how would you describe the start of 2024?
The experience industry is undergoing a digital revolution – as we head into 2024, we know that digitization is shaping trends and users’ needs like never before. In fact, our inaugural Travel Experience Trend Tracker is designed to help experience creators understand how consumers will spend this year and who is driving the trend to get ahead of the curve during this shift.
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
One of our focuses in the next year will be investing in our brand, especially in Europe and North America. You probably have already seen our ads across multiple channels – TV, digital, etc. And we are excited to continue to scale those investments.
What is the biggest opportunity for your business in 2024?
Beyond expanding in North America, we are looking to capture our momentum and harness our growth in 2024. We are in a strong financial position, having reached profitability this year, having gained significant market share from our industry peers. Looking to 2024, we are continuously identifying how to harness our deep understanding of experiences to better equip our supply partners and reach an even broader global customer base of engaged travelers.
What part of your job would you like to do more of in 2024?
Product development. There are so many exciting opportunities ahead of us to build world-class products for our customers and supply partners. Artificial intelligence has truly changed the game and there is a lot more coming in 2024.
What’s the most interesting thing you read or watched in 2023?
I was lucky enough to listen to a talk by Dave Luan, the founder of Adept AI and former VP of Engineering of OpenAI. He succinctly summarised the technological foundation of the current paradigm shift and gave a fascinating outlook on the future of AI.
Personally, I was able to read Anna Karenina by Tolstoy, which I had at the top of my reading list for many years. It was a phenomenal book.
What’s the trip you want to make in 2024 to add to your memory bank?
I plan to visit Saudi Arabia for the first time, which will be very interesting.
What’s the one thing you wish AI could solve?
While many see AI’s impact on travel as a tool to help travelers plan trips, we are trying to harness AI to empower our global supplier network, solve their most pressing pain points, and help them scale. Most of our supply partners are small businesses with 5 or fewer employees. Their expertise is in providing unforgettable experiences – not programming or prompt engineering.
We are integrating AI into our supply partner experience so they can manage and grow bookings seamlessly, accurately price their experiences, improve their products with actionable insights and advice, and help communicate more about their experiences at scale.
What’s the one thing you think AI will never solve?
Today, AI is being implemented to optimize our consumer-facing product, improve our productivity, and help our partners navigate our platform.
But AI will never be a replacement for the passions that drive travelers to seek experiences in the first place. Even in a world wherein AI significantly improves the discovery and fulfillment of experiences, it will never replace the human connection at the heart of the experience.
One important trend that no one is talking about yet?
We see a shift from experiences being an add-on product to becoming the reason for one’s travel, and we have seen an increased demand for unique, immersive experiences that spark travelers’ passions. The future of travel is guided, and the data shows that the best way to connect guides with engaged travelers is through a convenient, flexible digital marketplace.
A buzzword that will disappear this time, next year.
I sincerely hope we’ll talk less about inflation and recession and more about innovation and the travel industry’s shared values.
Hermione Joye, Head of Travel, APAC, Google
Looking back – one word to describe 2023
Unprecedented. Enough said!
One word you wish would disappear from the vocabulary
Hate
On a scale of 1-10, rate how optimistic (10 being most) do you feel about 2024?
7 – it’s a year to be optimistic, embrace change, and capitalize on the exciting opportunities that lie ahead.
Major opportunities:
- AI & Automation
- Emerging Destinations
- Economic growth – Growing digital population & GDP headroom
Looking forward – one word to describe 2024
Dynamic
Looking at your data, how would you describe the start of 2024?
Promising. According to the latest e-Conomy SEA report by Google, Temasek and Bain, we see a 80% recovery in outbound travel volume and a +40% increase in travel demand. This is fueled by the rising middle class, rapid adoption of digital technologies, and continued economic growth, technological advancements, global leadership, and social and cultural development
What’s the one key thing you’re doing to prepare your business for whatever lies ahead?
Investing in education, myself & my team
What is the biggest opportunity for your business in 2024?
AI – the upside will come from productivity gains & more seamless (less friction) services & experiences. Getting people to be where they want to be, more quickly be it when they are searching or travelling.
What part of your job would you like to do more of in 2024?
Spending time with clients
What’s the most interesting thing you read or watched in 2023?
The novel, Tomorrow, and Tomorrow, and Tomorrow by Gabrielle Zevin
What’s the trip you want to make in 2024 to add to your memory bank?
Personally, Canyon Point, Utah. It’s such a beautiful place. And I like the idea of going and completely disconnecting for a 5 days
Family: Skiing, I am so excited to take them to see and experience Snow & learn a sport as a family.
My most interesting trip of 23’ was visiting Shanghai, China in October. It was incredibly to be back in China, see the changes full details here
What’s the one thing you wish AI could solve?
Political instability
What’s the one thing you think AI will never solve?
Political Instability
One important trend that no one is talking about yet?
Bioregionalism: A growing movement emphasizing local food systems, sustainable resource management, and community resilience within local regions
A buzzword that will disappear this time, next year
Quiet quitting
