VIDEO: How travel companies can move toward “future-proofing”

Talk to any travel industry CEO – even those with the best laid crisis management plans – and they will tell you they never anticipated a global disaster on the scope of COVID-19.

As they look to the future, thoughts turn to what their companies can and should be doing today to become more resilient.

At The Phocuswright Conference 2020, Andrea Kates, managing director of consulting firm Futureproofing: Next, says now is the time for travel executives to “think about where we can be a year from now and work backwards and be bold.”

Kates outlines what she calls “the pyramid of possibility,” which illustrates layers of action that can move companies toward a more innovative future.

At the top of that pyramid is the goal of “futureproof,” which Kates says is achieved through actions such as working with competitors to achieve common goals, reimagining the customer experience and developing new, cross-industry business models. 

“We are not victims of the future. We are leaders of organizations that can shape our future,” Kates says.

“This is the moment to get ahead of the changes in our market and redirect toward a new path to growth.”

Watch the full presentation below.