The Amadeus Travel Technology Investment Trends study reveals a 14% increase in technology investment, accelerating the evolution of the travel sector. Airports, corporate travel managers and hotels lead plans to increase technology spending.
Which technologies is the sector investing in?
The sector is prioritising machine learning, data analytics, digital payments and extended reality to deliver a more efficient and personalised travel experience. One example is the adoption of biometrics at airports and by airlines.
The study, presented in March 2024, covers eight sectors of the travel journey in ten markets. According to its data, 91% of travel companies expected to increase their investment in 2024, focusing on technologies that improve retailing, personalisation and digital efficiency.
Who is increasing technology spending the most?
For 2024, the study forecast an increase in technology spending led by airports (17%), followed by corporations (15%) and hotels (14%). Other relevant figures:
- Full-service airlines expect an 18% increase in revenue thanks to modernising their retailing.
- 60% of airports plan to implement biometrics across the entire airport experience within the next five years.
- 85% of hoteliers see personalisation as a key driver of revenue.
- NDC is the main technology that leisure travel agencies plan to adopt in the next 12 months, according to 40% of respondents.
Decius Valmorbida, President of Travel at Amadeus, links the increase in digital investment to an improved traveller experience. Francisco Pérez-Lozao Rüter, President of Hospitality at Amadeus, highlights the role of technology in unlocking value across the travel ecosystem.
Machine learning is seen as the most important technology in 2024 and up to 2029, followed by data analytics and the cloud.
What it means for TravelTech companies
More technology investment means more technology contracts, more traveller data and more applicable regulation: data protection, the AI Act, the Data Act, and SaaS and API contracts. Backing that growth with a sound legal and tax framework is what lets you scale without surprises.
Frequently asked questions
How much is technology investment in the travel sector growing?
By 14%, according to Amadeus’s Travel Technology Investment Trends study, presented in March 2024.
Which technology is considered most important for travel?
Machine learning, followed by data analytics and the cloud, according to the same study.
This article is for information only and does not constitute legal or tax advice.
