Agoda CEO, Omri Morgenshtern, outlines five key trends that are expected to shape the travel sector in 2024, emphasizing the transformative role of technology.
In a recent address at the ASEAN Tourism Forum in Laos, Omri Morgenshtern, CEO of digital travel platform Agoda, forecasted a promising landscape for the travel industry in 2024. Citing a strong start to the year and the momentum built from 2023, Morgenshtern highlighted Asia’s significant year-on-year growth, with Japan, South Korea, and India as leading contributors.
The first of five key trends Morgenshtern predicts for the travel sector is the acceleration of visa-free travel. Countries are anticipated to ease visa restrictions to stimulate inbound traffic — a trend reflected by the increase in searches for Malaysia after it relaxed its visa rules.
Connected travel bookings are expected to sustain their upward trajectory. Travel providers are integrating flights, hotels, experiences, and activities into a single platform, offering a comprehensive solution for globetrotters.
Morgenshtern identified artificial intelligence (AI) as a game-changer in the travel industry. GenAI, for instance, significantly enhances team performance at Agoda, providing a glimpse of AI’s potential to revolutionize the travel experience.
The fourth trend highlighted is the increasing influence of B2B loyalty programs. Travelers are showing more interest in rewards for wellness and sustainable practices, suggesting a shift toward more conscious travel.
Finally, Morgenshtern pointed out the increasing prominence of travel fintech. By offering seamless payment solutions, the private sector is driving technological innovation in this area, playing a pivotal role in the evolution of the travel industry.
