The next digital revolution is at our doorstep. What impact
will it have on the opportunities for Tourism and Hospitality?
The Internet of Things (IoT) has been labelled as "the next
Industrial Revolution" because of the way it will change the
way people live, work, entertain, and travel, as well as how
governments and businesses interact with the world.
But in actual fact, the revolution has already started. New cars
run on sophisticated computers with connectivity options and apps;
smart home devices are accessible from anywhere using any device or
voice control; fitness trackers track your fitness levels and also
update your friends and family on your progress. These connected
devices, connected 'things' are what IoT is all about.
Over the last couple of years, hotels and entire cities have
already been exploring smart, connected devices that enhance the
client experience or provide operational efficiencies. According to
a study by Tata Consultancy Services, the Travel, Transportation
and Hospitality industry was expected to spend an average of $128.9
million on their IoT initiatives in 2015 alone.
Whether it's monitoring the performance of airline engines
or a hotel via an integrated energy efficient building management
solution; enabling keyless entry to hotel rooms or beacons helping
tourists find their way around cities, the internet of things is
creating exciting opportunities for the travel and hospitality
Besides new opportunities and improving the traveller
experience, IoT presents numerous opportunities for operational
efficiency gains. By connecting smart devices, systems, processes
and people in new ways, it is streamlining the back-end operations
and the connectivity presents the industry with a new connected
tourism and hospitality eco-system. At the same time, data from
these connections is helping marketers deliver highly targeted and
more personalised campaigns and enhanced traveller experiences.
Simply put, the IoT is helping this highly competitive industry
turn information into action.
The Internet of Things is here to stay, and this landscape will
become even more interesting...and complex. How the travel and
hospitality industry embraces this "technology" will
ultimately centre on revenue generation and client and skill
According to Gartner, by 2020 there will be over 26 billion
connected devices. According to a Business Insiders Research Report
$6 Trillion will be spent on IoT solutions over the next 5 years;
with an ROI of $13 trillion by 2025!
With Tourism being a key contributor to our economic success,
can we afford to lag behind?
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