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By Author
Published on December 31, 2023
In a data-driven overview, the travel and tourism industry is poised for a robust return to pre-COVID-19 levels, marking a remarkable comeback despite persistent challenges in staffing, cybersecurity concerns, and the integration of artificial intelligence (AI).
International tourism, a significant indicator of recovery, is expected to reach 90% of pre-pandemic levels by the end of 2023, according to data from the United Nations World Tourism Organization (UNWTO). The period between January and September witnessed a 38% increase in international tourist arrivals, totaling an estimated 975 million.
UNWTO Secretary-General Zurab Pololikashvili commented, "International tourism has almost completely recovered from the unprecedented crisis of Covid-19, with many destinations reaching or even exceeding pre-pandemic arrivals and receipts. This is critical for destinations, businesses, and communities where the sector is a major lifeline."
The global market share of the travel and tourism industry has bounced back impressively, accounting for 7.6% of global GDP in 2022, with projections indicating a rise to 9.2% by the end of 2023. In 2019, this figure stood at 10.4% of global GDP.
As the industry experiences this resurgence, three main challenges have emerged in 2023 and are expected to persist into 2024, as highlighted by analysts from GlobalData.
1. AI Takes Center Stage
Artificial intelligence (AI) has become a transformative force across industries, and the travel sector is no exception. AI applications in tourism include monitoring hotel room maintenance, optimizing energy usage, demand forecasting, and adjusting room availability accordingly.
Nicholas Wyatt, Head of Analysis at GlobalData Travel and Tourism, notes, "Hotel operators are still trying to get to grips with this emerging yet possibly transformative technology, but many within the industry see great potential in it." Generative AI, particularly for labor-intensive and repetitive tasks, is gaining traction, allowing staff to focus on enhancing guest experiences.
AI chatbots, capable of making recommendations and addressing FAQs effectively, are becoming commonplace, inspired by successful models like Expedia's generative AI chatbot.
2. Chronic Staff Shortages
The travel industry grapples with a persistent issue of staff shortages, further exacerbated by the challenges of luring back workers who left during the pandemic. AI is positioned as a potential solution by freeing up staff time, allowing personnel to focus on customer service.
From 2022 to 2032, the travel and tourism sector is projected to add 126 million new jobs, according to the World Travel and Tourism’s Staff Shortages report. However, the industry faces obstacles, including political decisions affecting immigration policies, potentially shrinking the talent pool.
3. Cybersecurity Concerns
In 2023, cybersecurity breaches have become a growing concern for the travel and tourism sector. High-profile incidents, such as the cyberattack on MGM Resorts in September, and the data breach at Hilton in January, highlight the vulnerability of the industry.
Megan Cross, Associate Analyst at GlobalData Travel and Tourism, emphasizes the need for robust cybersecurity measures, especially given the industry's possession of highly valuable and sensitive guest data. The rise of digital platforms necessitates advanced cybersecurity practices to maintain customer trust in 2024.
Despite these challenges, the average stock prices of leading travel and tourism companies have remained steady throughout 2023, signaling resilience in the face of adversity. As the industry continues to recover, staying ahead in cybersecurity practices and embracing AI will be pivotal for sustained growth and customer trust.
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Published on February 12, 2025
SKIL Events, a leader in India's event management industry, set a new benchmark with the flawless execution of MedTekon 2025, the flagship event of the Medical Technology Association of India (MTaI). Hosted at the iconic Taj Palace, New Delhi, the event gathered an elite audience of 350 delegates, 55+ CEOs, and key policymakers, reaffirming its position as a premier platform shaping the future of India’s MedTech sector.
Graced by Anupriya Patel, Minister of State for Health and Family Welfare of India, MedTekon 2025 highlighted the government's commitment to healthcare innovation and strengthening the MedTech ecosystem. A state-of-the-art 60-ft curved LED screen set the stage for a day of transformative discussions and high-impact networking.
Under the theme "Galvanizing MedTech: Equipping Hospitals, Driving Investments, Developing Synergies, and Facilitating Reforms," the conference united industry pioneers, investors, and thought leaders to drive actionable solutions for the sector.
MedTekon 2025 facilitated discussions on:✅ Boosting domestic and foreign investments in MedTech✅ Empowering hospitals with cutting-edge technologies for better patient outcomes✅ Facilitating reimbursements to ensure universal patient access✅ Revolutionizing health insurance to meet emerging healthcare needs✅ Simplifying regulations and harmonizing industry standards✅ Upholding ethical marketing practices in the medical device industry✅ Shaping the future of medical device skilling in India
The event also featured an exclusive exhibition of breakthrough medical technologies, bringing together government officials, procurement agencies, investors, hospital leaders, and industry disruptors.
Renowned for delivering seamless, high-impact experiences, SKIL Events ensured that MedTekon 2025 was engaging at every touchpoint—from world-class production and logistics to flawless behind-the-scenes coordination. The grandeur of Taj Palace, New Delhi, provided the perfect backdrop, blending sophistication with efficiency.
Mr. Nadeem Anam, Associate Director, MTaI, praised SKIL Events’ execution:"SKIL Events did a commendable job in executing MedTekon 2025 with efficiency and professionalism. Their attention to detail and smooth coordination contributed to the success of our event."
Reflecting on the event's impact, Ramanpreet Singh, Vice President – Events at SKIL, stated:"MedTekon 2025 is more than a conference—it’s a catalyst for change in India’s MedTech landscape. We designed this event to foster real collaborations, drive policy conversations, and unlock investment opportunities. Hosting it at the prestigious Taj Palace, New Delhi, only added to its significance. It was an honor to curate this landmark gathering for India's Lifesciences sector."
With MedTekon 2025 setting new benchmarks, India’s MedTech industry is now poised for unprecedented growth, innovation, and impact.
By Nishang Narayan
Published on January 28, 2025
As AI becomes increasingly integral to the travel industry, it brings immense opportunities for smarter pricing and enhanced customer experiences. However, challenges around fairness and transparency have emerged, requiring travel providers to adopt ethical practices to maintain trust and loyalty.
AI-powered pricing uses consumer data—such as past spending habits and demographics—to create personalized offers. While this enhances value for travelers, it raises concerns about fairness. Transparency in pricing is critical to ensure customers feel valued and not unfairly targeted.
Moreover, perceptions of price as an indicator of quality play a significant role in decision-making. Many customers are willing to pay a premium for perceived superior service, influencing their travel choices and raising expectations for personalized experiences.
The travel industry has long relied on seasonal trends and basic supply-demand principles to set prices. However, fluctuating demand, rising competition, and evolving customer expectations make these static models ineffective in today’s dynamic environment.
AI-powered pricing strategies are emerging as the solution, offering real-time adaptability and data-driven precision to optimize rates based on shifting market conditions and customer behavior.
One of AI’s most valuable contributions is its ability to process massive datasets and generate actionable insights.
This allows travel providers to offer personalized deals that enhance customer satisfaction while boosting profitability.
AI’s predictive models are transforming how pricing trends are forecasted. By analyzing market shifts, consumer sentiment, and disruptions like pandemics, AI helps:
For instance, during high-demand periods such as Diwali or Chhath Puja, travelers increasingly plan ahead for longer journeys, while shorter trips with higher supply encourage last-minute bookings. AI anticipates these behaviors, ensuring smoother experiences for all.
AI enables flexible pricing models, allowing travelers to access rates that adapt to real-time demand and promotions.
While the benefits of AI in travel pricing are vast, ethical challenges remain. Travel companies must commit to:
By addressing these concerns, the industry can maintain customer loyalty and foster a sense of fairness in pricing strategies.
The integration of AI into travel pricing is reshaping the industry, offering:
However, the road ahead requires thoughtful adoption of ethical AI practices to ensure that the benefits are shared by both travelers and providers. By embracing innovation responsibly, the travel industry can unlock its full potential and thrive in a dynamic, competitive landscape.
About the Author:
Dr. Anshu Jalora, Founder & Managing Director of Sciative Solutions, is a leading expert in AI-driven dynamic pricing and revenue optimization for the travel and hospitality industries.
By Manu Vardhan Kannan
Published on January 22, 2025
Ola has announced an exciting partnership with Maha Kumbh 2025 to deliver a seamless digital and green mobility experience for millions of devotees attending the world’s largest spiritual gathering. Leveraging its ecosystem, including कृत्रिम (Krutrim) - India’s first AI unicorn, Ola Electric, and Ola Consumer, the partnership integrates AI, electric mobility, and enhanced travel services to provide a connected and sustainable experience during the Maha Kumbh Mela.
Bhavish Aggarwal, Founder of Ola, shared, “Maha Kumbh 2025 reflects India’s rich traditions and the nation’s aspirations for a tech-driven future. Our partnership exemplifies how AI, green mobility, and digital-first solutions can manage large gatherings efficiently and sustainably. We are committed to building India as a global leader in technologies of the future.”
Earlier this month, कृत्रिम (Krutrim) launched the Kumbh Sah'AI'yak app, the first-ever AI-powered chatbot for the Maha Kumbh Mela. This AI-driven platform, developed by the Prayagraj Mela Authority in collaboration with the Uttar Pradesh government, offers personalized navigation, cultural insights, and key information about the Mela. The app supports multiple languages, including Hindi, English, Tamil, Telugu, and more, offering a user-friendly interface with voice commands and media-enriched content to enhance the visitor experience.
Ola Electric has further boosted the mobility experience by deploying 1,000 electric scooters at the Mela grounds. These e-scooters provide an eco-friendly and cost-effective solution for pilgrims, facilitating sustainable travel across the expansive Mela area.
Additionally, Ola Consumer has launched affordable transit services, including cabs, at airports, railway stations, and on-site rentals, making travel to and from the Mela seamless. Ola also operates EV shuttle services within the Mela grounds, ensuring convenient and accessible travel for attendees.
The Kumbh Sah'AI'yak app is a significant milestone in Krutrim’s mission to boost AI capabilities in India. The app helps visitors navigate the Mela, learn about its history and rituals, find accommodation, and explore attractions around Prayagraj. The AI-powered chatbot provides real-time information and ensures the privacy and security of user data.
Maha Kumbh 2025, which will run until February 26, 2025, is being hosted in Prayagraj, Uttar Pradesh. It is recognized as the world’s largest public gathering, attracting millions of ascetics, pilgrims, saints, and devotees from across the globe. This event celebrates India’s cultural and spiritual essence, offering a unique blend of faith, tradition, and innovation.
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