With 2018 around the corner, Phocuswright and PhocusWire are presenting snapshots of the 12 trends we think will be significant next year across six installments.
The final piece today examines travel Oligarchs and Incubators. (Click here to read the full series.)
This series forms the backbone of the PhocusWire Forecast 2018.
These 12 trends will be summarized in greater detail in a future Phocuswright Innovation report.
In addition, Phocuswright's analysts will take a deep dive on each of the trends we are showcasing in analyses to be published throughout 2018.
Are the oligarchs of the digital age stifling competition in travel commerce?
The biggest technology companies exert tremendous market power.
They wield unprecedented control over the scope and pace of innovation in the travel marketplace.
In the next year we’ll see how the current concentration limits the pace of change by reducing innovation/benefits for consumers, raising barriers to innovative startups and limiting new business models and standards for suppliers.
Democratization of travel distribution will be a boon to both new entrants and opportunistic intermediaries.
Is the explosion of travel-focused incubators and accelerators producing real innovation?
Over the past 10 years, countless travel-focused investors, incubators, accelerators and entrepreneur support programs have launched to connect promising startups with capital, mentorship and resources.
As with the larger startup ecosystem, some are independent, others are corporate-backed; some focus on specific verticals, others on phases of growth.
Virtually all claim to support innovation in the travel industry.
Simultaneously, they must meet internal investment or innovation objectives.
But many unanswered questions linger. How real are the opportunities they are pursuing? What are the tangible benefits and trade-offs for travel startups that choose to work with them?
And, of course, are they performing? Are they really supporting new and useful innovation? Are they, or will they, produce a positive ROI?