Conquering the Asia travel market is something of an impossible task. After all, the region is home to nearly five billion people, or about 60% of the world’s population.
On top of its sheer size and scale, Asia has been relatively slow to recover from the COVID-19 pandemic, with many countries imposing restrictions long after other parts of the world opened up.
A challenge for travel providers, indeed. But a challenge that’s done little to hinder – and has in fact accelerated – technology innovation and adoption in the region.
Amid the crisis, if travel providers didn’t digitize, they were left behind, said Chan Chee Chong, CEO of Singapore-based ticketing platform GlobalTix, speaking during a panel discussion at Phocuswright Europe.
For example, Asian consumers lead on fintech adoption, Chong said, meaning digital wallets are a part of their everyday lives. “If my clients are serious about getting the Asia market, they have to accept digital payments.”
Moderated by WebInTravel’s Yeoh Siew Hoon, the panel, comprising Chong alongside Atlas founder and CEO Mary Li, Wego co-founder and CEO Ross Veitch and Agoda CEO-in-waiting Omri Morgenshtern, discussed how their respective brands have adapted to changing consumer behaviors and the ways in which they’ve approached product experimentation.
They also debated which emerging technologies will have an impact on the travel sector – crypto and the metaverse among them – as well as their outlook for the Asia market over the next five years.
Watch the full discussion below.
WiT Europe: Around Asia in One Hour - Web in Travel - Phocuswright Europe 2022