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2019 Travel and Hospitality Industry Outlook

Deloitte Development LLP 1 February 2019
A strong economy, rising global consumer purchasing power, and digital innovation have all fueled record growth in the travel and hospitality industry. But there are still several challenges that could throw the industry off course in 2019. What are the biggest trends likely to shape hospitality, airlines, cruises, and ground transportation in the year ahead?Key US travel and hospitality industry trends for 20192019 marks a decade since the US travel industry emerged from the depths of economic recession. And what a decade it's been. Over the past 10 years, the surge of recovery collided with an economic turning point in global emerging markets--fueling a historic burst in travel demand felt by segments across the travel industry.But growth wasn't limited to traditional players. It's also been a remarkable decade for travel tech. Digital innovation helped form a lattice for entirely new segments to not only enter the market--but thrive. Some private accommodation and ride-hailing brands just finding their legs in 2009 already sit side by side with the titans of travel.It's easy to lose perspective on just how much technology has shaped the travel and hospitality industry in such a relatively short time. In 2009, the first hotel and airline apps were just hitting the market. Instagram and iPads didn't exist. Most travelers scoured newspapers and magazines for vacation rentals. Taxis were hailed by hand, and small luxury hotels were among the only businesses that could attempt to create a personalized experience for every guest.To learn more about technology's role and other trends likely to impact the travel and hospitality industry in 2019, download our full report.

Deloitte Global Technology, Media & Telecommunications Predictions 2019

Deloitte Development LLP 14 December 2018
Smart speakers, already a rapidly growing market in English-speaking countries, are poised to invade the non-English-speaking world in 2019 and beyond - setting the stage, in the long term, for making computing accessible to all.Deloitte Global forecasts smart speakers will be worth US$7 billion in 2019, becoming the fastest-growing connected device category. This is according to Deloitte's 18th edition of Technology, Media & Telecommunications Predictions.Smart speakers are continuing to fly off shelves, selling 164 million units at an average selling price of US$43 per unit. Total industry revenues will be up 63 percent, compared to $4.3 billion in 2018. However, the industry will have to overcome looming obstacles to reach its full growth potential. Speech recognition technologies continue to improve, but wider language support will need to be developed for the technology to be inclusive and experience global adoption.The democratization of AIDeloitte also predicts that in 2019 companies will further accelerate usage of cloud-based artificial intelligence (AI) software and services. Among companies using AI, 70 percent will obtain AI capabilities through cloud-based enterprise software, 65 percent will create AI applications using cloud-based development services, and by 2020, the penetration rate of enterprise software with AI built in, and cloud-based AI development services will reach an estimated 87 and 83 percent respectively."So far, AI's initial benefits have been predominantly accrued by 'tech giants' with extensive financial resources, strong IT infrastructure, and highly-specialized human capital," says Paul Sallomi, Deloitte Global Technology, Media & Telecommunications industry leader. "However, the cloud will power increased efficiencies and better returns on investment, and we expect these benefits to rapidly extend beyond AI's pioneers to the wider enterprise."The new network arrivesFifth-generation (5G) wireless networks are expected to arrive in scale, providing faster connections for consumers and enterprises, and opening revenue opportunities for telecommunication companies.Wireless operators have been pouring resources into 5G network development--in fact, 72 operators are currently testing this offering - and Deloitte forecasts that in 2019, 25 wireless operators will launch 5G service, a figure that will likely double by 2020. In total, over one million 5G handsets are expected to be sold in 2019, and that number should expand to 15-20 million units by 2020. A further million 5G pucks/modems are also predicted to sell in 2019."Wide-scale adoption of 5G devices will take time, but we believe 2019 will be the starting point for sweeping change for the wireless industry," says Craig Wigginton, Deloitte Global Telecommunications sector leader. "5G can provide hundredfold increases in traffic capacity and network efficiency over 4G, and this has transformative potential on the future of connectivity worldwide."Additional topics from Deloitte's 2019 TMT Predictions include:China's connectivity nurtures new digital business models: Deloitte predicts China will have world-leading telecommunications networks in 2019 and most likely in the medium term. Its communications infrastructure will provide a foundation for at least three significant new industries, each of which could generate tens of billions of dollars in revenue annually by 2023.Betting on sports broadcasting - Deloitte predicts that 60 percent of North American men ages 18-34 who watch sports on TV will also bet on sports. As a result, about 40 percent of all US-based TV watching by men 25-34 years old will be driven by sports betting.3D printing breaks through - Sales of enterprise 3D printers, materials, and services from large public companies will surpass $2.7 billion in 2019 and top $3 billion in 2020, growing 12.5 percent annually each year. The list of possible 3D-printable materials has more than doubled in the last five years, which (along with other improvements) has led to a rebound in the industry's growth potential.eSports continue to surge - The North American eSports market will expand by 35 percent powered by advertising, broadcast licensing, and franchise sales. North American eSports franchise leagues will expand into specific cities, following the professional sports model.Radio remains relevant - Deloitte predicts that over 85 percent of the adult population will listen to radio at least weekly in the developed world (the same proportion as in 2018), although reach will vary in the developing world. Combined, nearly 3 billion people worldwide will listen to radio weekly. In the US, Deloitte expects that more than 90 percent of 18 to 34-year-olds will listen to radio at least weekly in 2019, and will likely spend more time listening to radio than watching traditional TV by 2025.Evaluating quantum computing - Quantum computing will emerge as one of the largest new technology revenue opportunities over the next decade, but are unlikely to replace classical computers. The future quantum computing market is expected to be comparable to that the supercomputer market - around $50 billion per year by the 2030s.China expands technological prowess - Revenues for Chinese-manufactured semiconductors will grow by 25 percent to $120 billion, solidifying China as a globally-significant player in manufacturing and AI development. China will also have world-leading telecommunications in 2019, expanding possibilities for enterprise capabilities and interpersonal communication."2019 will be defined by how new technologies steadily reshape how we live and work," says Mark Casey, Deloitte Global Telecommunications, Media & Entertainment sector leader. "From smart speakers to 5G networks, and everywhere in between, accessibility to advanced technologies is quickly improving. As the barriers continue to fall, the potential for greater connectivity and further innovation will increase exponentially."Now in its 18th year, Deloitte Global's annual TMT Predictions provide an outlook on key trends in the technology, media, and telecommunications industry sectors worldwide. Visit Deloitte.com/predictions to learn more and connect with us on Twitter: @DeloitteTMT and #DeloittePredicts.

Moving the global travel industry forward - A Deloitte special article produced for the 2018 World Travel & Tourism Council (WTTC) Global Summit.

Deloitte Development LLP 16 May 2018
Executive summary : The global travel industry today has reached unprecedented size and momentum, as disposable incomes grow larger across the world. Although there are factors that make the industry vulnerable, the travel space continues to thrive in 2018. Investments in travel start-ups capable of offering novelty, data derived from emerging technologies, and employee engagement will elevate personalization for consumers. How can these personalized interactions unlock a myriad of new revenue streams? This insight reviews the current state of the global travel industry and focuses on issues that will drive the industry forward. It also discusses how travel suppliers can build a bigger ecosystem by tapping into the value created by adjacent industries such as hotels, tours and activities, and health and wellness. The article also discusses a collaborative approach for online travel agencies and hotels as the path to securing a competitive advantage.

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