With the current travel chaos across airports, rail stations and ports, there’s a strong argument for travel suppliers to just get the basics right.
However, the peak travel period will end soon enough and the industry should consider how it innovates, drives efficiency and genuinely puts customers first.
The looming threat of recession won’t help, and startups are already being told to prepare by cutting costs.
So, where is the innovation going to come from? What are the opportunities, and who is likely to receive investment?
Christine Wang, managing director of Lufthansa Innovation Hub (LIH), says later-stage investments are still coming in, adding that it’s a reflection of the fact investors want to see startups with a proven market fit.
In an interview in the PhocusWire Studio at Phocuswright Europe 2022, Wang discusses how the LIH, with Lufthansa Group as a backer, can help startups.
She also talks about how airlines are looking to diversify their services according to changing consumer behavior.
The recent launch of Global Spaces, which provides co-working and meeting space for travelers and is a partnership with Meetingsbooker, is one example.
Wang is also keeping an eye on the growth of live-streaming in travel as travelers, especially younger generations, turn to social platforms for inspiration.
Watch the full interview with PhocusWire senior reporter Linda Fox:
Executive Interview: Christine Wang of Lufthansa Innovation Hub