We’re creating a more connected travel industry, underpinned by sustainability and long-term investor relations.
The need for business travel is ever present - whether it’s building customer relationships, bringing teams together to strengthen an organizational culture, developing your business or expanding your network at an industry conference, face-to-face interactions make a difference. In fact, the education and research foundation of the Global Business Travel Association (GBTA), predicts a $1.7 trillion business travel market by 2022.
It's against this background, we recently signed an extension of our agreement with Mundo Tour, a travel agency based in Santiago, to optimize operations and digitalize its processes. What is special about this relationship is that we have been working with the agency for nearly 25 years of its 30-year existence. We have seen the agency grow from primarily focusing on the sports segment to other lucrative segments such as corporate travel.
Agencies that focus on the corporate segment have needed to scale up to meet the increased demand. But more than that, today's business travel agencies (BTAs) are working hard to offer business travelers increased choice, price transparency and personalization, while delivering better value to corporations for their travel spends.
At Amadeus, we are focused on the needs of business travel agencies and helping them achieve their goals. The first step has been our move from a global distribution system to becoming a Live Travel Space, where all players can connect and collaborate to address the desires of travelers. Our technology, underpinned by the Amadeus Travel Platform, has been designed to support travel agencies such as Mundo Tour to access alternatives to all the content they need, with NDC as a pivotal part of our strategy. Additionally, our people have worked hand-in-hand with Mundo Tour to provide consultancy and expertise based on global travel trends and local market knowledge.
Thanks to Amadeus technology and expertise, Mundo Tour has continually been able to improve its services. Through various system enhancements, the quality control, scheduled changes and cancellation of bookings has become easier. This lasting partnership has enabled the agency to automate and centralize operations which has resulted in an increase of operational efficiency and competitive offers for its customers.
While we continue the digital transformations journey, we are opening the doors for increased personalization. Amadeus is ready to help more business travel agencies leverage innovative tools such as AI and machine learning to stay ahead in an industry as competitive and fast changing as the travel one. To find out how Amadeus can help you, click here for more information.