Summary
• Market issue:
EU tourism and travel sector (worth €300Bn and employing 9.7M people) faces new challenges to growth (incl. digitisation and diversification) that prevent SME growth:
1) Excessive fragmentation: high diversification (>30 verticals) and hyperlocal nature of the market prevent scalability and innovation (PCWI, 2014).
2) Digital divide: 90% travellers research holidays online (FairFX, 2012), but only 12% of providers have digital reservation systems, skewing demand (PwC, 2014).
3) Price inflation: SME providers are forced to rely on high and overlapping referrals for customer acquisition, causing price inflation (Rezdi, 2015).
The challenges are particularly acute for the guided tour segment, worth €7bn p.a.
• Proposed solution:
Touriocity has proven the concept of an Integrated Mobile Platform for Activity Commoditisation in the Travel market (IMPACT) to improve digital accesss for the long-tail of guided tour providers. IMPACT fits objectives of the Business Model Innovation work programme by supporting growth and innovation of 1.8M tour operators (81% have turnover
EU tourism and travel sector (worth €300Bn and employing 9.7M people) faces new challenges to growth (incl. digitisation and diversification) that prevent SME growth:
1) Excessive fragmentation: high diversification (>30 verticals) and hyperlocal nature of the market prevent scalability and innovation (PCWI, 2014).
2) Digital divide: 90% travellers research holidays online (FairFX, 2012), but only 12% of providers have digital reservation systems, skewing demand (PwC, 2014).
3) Price inflation: SME providers are forced to rely on high and overlapping referrals for customer acquisition, causing price inflation (Rezdi, 2015).
The challenges are particularly acute for the guided tour segment, worth €7bn p.a.
• Proposed solution:
Touriocity has proven the concept of an Integrated Mobile Platform for Activity Commoditisation in the Travel market (IMPACT) to improve digital accesss for the long-tail of guided tour providers. IMPACT fits objectives of the Business Model Innovation work programme by supporting growth and innovation of 1.8M tour operators (81% have turnover
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More information & hyperlinks
| Web resources: | https://cordis.europa.eu/project/id/697447 |
| Start date: | 01-10-2015 |
| End date: | 31-01-2016 |
| Total budget - Public funding: | 71 429,00 Euro - 50 000,00 Euro |
Cordis data
Original description
• Market issue:EU tourism and travel sector (worth €300Bn and employing 9.7M people) faces new challenges to growth (incl. digitisation and diversification) that prevent SME growth:
1) Excessive fragmentation: high diversification (>30 verticals) and hyperlocal nature of the market prevent scalability and innovation (PCWI, 2014).
2) Digital divide: 90% travellers research holidays online (FairFX, 2012), but only 12% of providers have digital reservation systems, skewing demand (PwC, 2014).
3) Price inflation: SME providers are forced to rely on high and overlapping referrals for customer acquisition, causing price inflation (Rezdi, 2015).
The challenges are particularly acute for the guided tour segment, worth €7bn p.a.
• Proposed solution:
Touriocity has proven the concept of an Integrated Mobile Platform for Activity Commoditisation in the Travel market (IMPACT) to improve digital accesss for the long-tail of guided tour providers. IMPACT fits objectives of the Business Model Innovation work programme by supporting growth and innovation of 1.8M tour operators (81% have turnover
Status
CLOSEDCall topic
INSO-10-2015-1Update Date
27-10-2022
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