[Press Release] TOURVIS unveils 2024 Cultural Travel Project

[press release_202404]     Enjoy the Recital of Yunchan Lim and Embark on a Journey to Singapore!TOURVIS unveils 2024 Cultural Travel Project-        - Collaborating with renowned pianist Yunchan Lim for a recital in Singapore-        - Specialized offerings including premium seat tickets, backstage tours, and exclusive programs-        - Launching cultural travel packages that integrate performances and sightseeing at destination venues-        - Introduction of TOURVIS package services in April as part of differentiation strategy-        - Strengthening brand trust and competitiveness via partnerships with various artists   Recently, the popularity of K-classical music has risen to the same level as K-pop. Given the nature of classical music, which often entails performances on international stages, there has been a growing trend of combining performance and travel. In response to this trend, Tourvis, an online travel platform, now offers packages that go beyond just concert attendance. These packages include recitals by the world-renowned pianist Yunchan Lim, allowing travelers to fully immerse themselves in cultural travel experiences at performance venues. Unveiling a New Culture of Combining Performances and Sightseeing In Destination On June 28, 2024, the Esplanade Concert Hall in Singapore will host Yunchan Lim's piano recital. Yunchan Lim, the youngest champion of the Van Cliburn Competition in 2022, has won the hearts of classical music lovers, earning a massive fan following like an idol. His upcoming release of the Chopin Études album, available for pre-order, is already a hit, with sold-out performances domestically and internationally. Although tickets for Yunchan Lim's upcoming June concert sold out quickly, they are available for purchase through TOURVIS. TOURVIS organized travel packages for cultural travelers, including airfares, accommodations, and local attractions, aligned with the concert schedule. Despite limited availability, reservation rates were slower than individual ticket sales; yet, cancellation rates remained exceedingly low, at less than 1%. As a result, there is an increasing expectation about the demand of cultural travelers, who prioritize attending performances or sporting events before choosing their travel destinations. Differentiation with Specialized Programs, Including Backstage ToursTOURVIS has strived for differentiation by providing more than just tickets; it also offers specialized programs and services. TOURVIS recognizes the concert as the central focus of its offerings and has secured top-tier seating for Yunchan Lim's performance of Chopin to ensure a vivid appreciation of the performance. Moreover, to foster intimacy with the artists and expectations for the performance, TOURVIS has arranged guided backstage tours the day before the concert and special lecture programs led by experts on the performance day. The itinerary for activities beyond the performances has been carefully crafted based on data and preferencesanalysis on cultural/ artistic themes-related travel products. The result is the inclusion of various attractions such as 'National Gallery' - renowned for holding the largest collection of modern artworks in Singapore and Southeast Asia, guided tours of 'Botanic Gardens' and 'Gardens by the Bay,' iconic landmarks like the 'Marina Bay Sands Skypark' and 'River Cruise,' as well as famous shopping districts like 'Orchard Road.' These recommendations cater to diverse interests and ensure a fulfilling travel experience. Promoting Brand Competitiveness with Tourvis' Exclusive-Themed ProductsSetting to officially launch package services in April this year, TOURVIS has adopted various approaches to products development. One of the strategies is cultural travel, which seeks to experiment with possibilities by prioritizing potential over immediate profitability. TOURVIS initially entered the cultural travel space with a 3-night, 5-day package featuring tickets to Seong-jin Cho's recital, the first Korean to win the Chopin Competition in July 2019. Unfortunately, the package was suspended due to the COVID-19 outbreak in the same year. However, after reevaluating its product offerings this year, TOURVIS has reintroduced and expanded its themed packages, beginning with Yunchan Lim's recital. To enhance its brand trust and competitiveness, TOURVIS plans to continue collaborating with various artists to create unique packages and consistently release cultural travel products centered around music, art, and sports.Jeong-du Han, Team Lead of TOURVIS Package Service Team, stated, "TOURVIS is always attentive to emerging cultural trends. Culture and travel complement each other, creating greater values together. In the future, TOURVIS will continue to develop exclusively themed products, such as premium travel packages linked to classical performances like Yunchan Lim's recital, and explore various perspectives for business transformation."  *TOURVIS(www.tourvis.com)An online travel platform operated by travel technology company TIDESQUARE. Launched in 2000, TOURVIS provides worldwide airline, hotel, tour and ticket products through a strong network of direct local contracts and partnerships. Through differentiated technology TOURVIS aims to provide best in class products and services to customers and grow as a trusted brand as the first ARMS-index certified Korean travel agency to offer NDC content directly to customers, select services in partnership with luxury hotel memberships, 99% of Japan/Europe transportation passes and mileage accumulation partnership with Korean Air.   

2024-04-11

[Press Release] Tourvis x Consumer Insight analysis on cost-effective travel trends

[press release_202403]     Korean traveller's top picks for value for money travel Tourvis x Consumer Insight analysis on cost-effective travel trends- Japan: #1 destination for first six months of 2024, consecutively - March and April focus on Tokyo, Osaka and other Japanese cherry blossom destinations        - May and June strong for Cancun and Honolulu, due to Golden Week long haul travel - Similar trends reported in Consumer Insight’s “Japan and Thailand: Top Cost-Effective Travel Destinations... and Korea?” report - Preference for value-oriented travel with high value for money     *Source: - Hotel check-in data from January to June 2024 on Tourvis  - Consumer Insight's 2023 analysis of overseas travel value for money by country     Where should we travel as the weather warms this spring? Where are Korean travellers going during the Golden Week holiday when you can get five days off by using two vacation days? For those planning a trip ahead of the cherry blossom season and the Golden Week holidays, online travel platform Tourvis has released a forecast on Korean outbound travel trends for the first half of 2024 based on hotel check-in data.  Japan tops the list for six consecutive months, with Cancun and Hawaii strong in May and June According to Tourvis' analysis of travel trends based on data from the first half of 2024, Japan was the top country for the sixth consecutive month, accounting for 42% of all bookings from January through June. This was followed by Vietnam at 9%, the US at 8%, Thailand at 6%, and Guam at 4%. There was minimal variance in results by city but there was a slight variation in the strongest areas depending on the month. In January and February, Fukuoka, Tokyo, Osaka, and Yufuin were all in the top five, accounting for 31% of all bookings. This is likely due to the popularity of New Year's and Lunar New Year travel to these hot spring destinations, which are popular when the weather gets colder. In March and April, Fukuoka, Tokyo, and Osaka were also in the top five, accounting for 25.5% of all bookings. Travelers seem to be concentrating on these popular destinations to see the Japanese cherry blossoms, which begin blooming in mid-March and peak in April. In May and June, Cancun and Hawaii showed strong growth, ranking first and second in terms of bookings for the second consecutive month. In addition, European cities such as France, Italy, and Spain, as well as vacation destinations such as Bali and Guam, saw 7-10% month-over-month increases in bookings. With two long holidays in May that allow travelers to take up to five days off if they use two days of vacation, and a long weekend in June, many people are planning long trips, including honeymoons and early bird summer vacations. Japan, Thailand ranked as best value for money destinations     Japan, Vietnam, Thailand, and other Asian destinations continue to remain popular through 2024. This is due in part to their proximity, but also to the low cost of travel due to low inflation, such as the yen. ConsumerInsight, a travel research firm released a report in February comparing overseas travel costs and satisfaction by country in 2023. Japan and Thailand are the top destinations for "low cost and high satisfaction," followed by Australia, Indonesia, Vietnam, and Spain. "Considering the contrasting phenomena of economic downturn and the boom in overseas travel, it is anticipated that there will be an increase in the selection of low-cost, value-for-money destinations in Asia in the future," said Dr. Minhwa Kim of Consumer Insights. Jae-man Jung, Head of Digital Marketing at Tourvis, said, "We agree that cost-effectiveness affects the choice of travel destinations, and we will continue to identify customer preferences and trends based on various data to provide optimal services.    *TOURVIS (www.tourvis.com)An online travel platform operated by travel technology company TIDESQUARE. Launched in 2000, TOURVIS provides worldwide airline, hotel, tour and ticket products through a strong network of direct local contracts and partnerships. Through differentiated technology TOURVIS aims to provide best in class products and services to customers and grow as a trusted brand as the first ARMS-index certified Korean travel agency to offer NDC content directly to customers, select services in partnership with luxury hotel memberships, 99% of Japan/Europe transportation passes and mileage accumulation partnership with Korean Air. *CONSUMERINSIGHT (www.consumerinsight.co.kr) ConsumerInsight offers specialized and scientifically rigorous research services across diverse industries, including automotive, telecommunications, retail, tourism, and finance, leveraging an efficient online panel tailored for non-face-to-face surveys. Our emphasis is on elevating the value of data by seamlessly integrating various big data sources with panel research, and we are dedicated to applying these insights across multiple sectors. Notably, we have recently introduced `KD Panel,` a survey platform with nationwide representation, exclusively operating on a 100% mobile basis. This platform is now open for use by professionals throughout the research industry.

2024-03-07

[Press Release]TidesquarexConsumer Insight predicts 2024 travel trends for outbound Korean travers

[PRESS RELEASE_202312]Millennial and GenZ male travelers are on the rise and contactless travel is here to stayTidesquare x Consumer Insight predicts 2024 travel trends for outbound Korean travelers -       Millennial and GenZ male travelers to become a key demographic  -       Contactless travel continues to be high priority as travelers prioritize safety and relaxation -       Narrower travel destination choices due to global unrest and high fuel prices-       Increased role of exchange rate and prices on destination selections  -       Continued development of products and promotions to meet these trends *Source- Consumer Insight “Tracking Koreans’ Travel Behavior Changes 2017-2023” (Presented at ‘Wit Seoul 2023’ on Nov. 2, 2023)- Tidesquare (Tourvis, Kyte) 2023.01 – 2024.03 booking data  Travel technology company TIDESQUARE has forecasted Korean outbound travel trends for 2024 based on 2023-2024 booking trends and data from research firm Consumer Insight.Based on data presented by Consumer Insight at ‘WiT Seoul 2023’ on Nov. 2, 2023 and internal booking trends, TIDESQUARE analyzed traveler behavior and purchase journeys to predict major changes from the pre-COVID 19 era, including the continuation of contactless travel, narrow scope of travel destinations due to global unrest and high oil prices as well as stronger mobility services. Predicting a rise in small-town travel destinationsAccording to Consumer Insights' analysis of T.R.A.V.E.L. - the six key factors that shape traveler behavior and attitudes - the most significant change in the “Target” audience in 2024 will be men in their 20s. There will also be some shifts in travel patterns as single women in their 20s and 30s and families with infants and toddlers, who were key pre-COVID-19 travelers, become less common and the older population declines.“Resource” predicts that the "contactless" travel trends that have been established during the pandemic will continue for the foreseeable future, with people seeking safety and relaxation. Tidesquare data shows that while major cities with popular tours and experiences have consistently been the most popular destinations, since the second half of 2023 bookings for small towns and lesser known destinations have increased. In Japan, small town hotel bookings accounted for more than 22% of all hotel bookings in the country, with winter hot spring destinations also increasing, not only in the more popular hot spring areas such as Yufuin, Haneda, Jozankei and Noboribetsu, but also lesser-known hot spring areas such as Arima, Gero and Kurokawa. In Vietnam, the proportion of accommodation bookings in smaller cities other than Da Nang and Hanoi more than doubled year-on-year, demonstrating a new direction in contactless travel. Strong growth in short-haul destinations with strong impact of exchange ratesIn terms of “Accessibility”, international travel will continue to grow as COVID-19 becomes an endemic in most destinations, but in 2024, global unrest and high fuel prices will narrow the choice of destinations. In 2023, the most popular overseas air routes were Tokyo (13.77%), Osaka (11.89%), Fukuoka (10.64%), Da Nang (3.25%), and Bangkok (2.88%), and the top five were all in East Asia, with the commonality being short-haul destinations of around 5 hours. Booking trends for Q1 2024 are expected to be similar to those for Q1 2023, with short-haul destinations around 5 hours continuing to be strong for the foreseeable future.“Value for money” as a criteria in selecting destinations is going to increase in importance. While in the past, travel plans were made by comparing ticket prices on metasearch platforms such as Skyscanner and Naver, next year they are expected to be influenced by other factors such as exchange rates and local prices. In the case of Japan, with its close proximity as well as fall of Japanese yen against Korean won (100 yen : 800 KRW in November 2023), flights to Japan accounted for 30% of airline ticket bookings this year and into the first quarter of next year.  Increased use of mobility services and luxury goodsAlong with changes in travel trends, changes in “E-connect” (information channels) are also expected. While OTAs and SNS will remain influential in pre-trip bookings and information searches, the number of people looking for information in destination will increase, and mobility services such as Google Maps, Uber, and KakaoT, which allow users to check travel routes and book taxis, electric bicycles, and kickboards, will be widely used. “Loyalty” seems to be the at the core of the shift in consumer spending. As the standard of satisfaction focuses more on recreation and healing, the tendency to pursue “value-for-money” travel, which emphasizes efficient use of time is likely to increase rather than “value-for-money” travel focusing unconditionally on cost-saving. As a result, demand for products that prioritize safety and private packages such as VIP tours and luxury hotels is expected to increase. With the declaration of COVID-19 being an endemic in May 2023, Korean outbound travel sentiment rebounded once again and 2024 will be a time to take a leap forward with travel trends that have changed before and after COVID-19. Min Yoon, CEO of TIDESQUARE stated “Travel trends change every year but the competitiveness of travel platforms is the differentiated technology and specialized services they offer. We plan to continue to lead the way utilizing the latest technology and provide trend-customized services in 2024 by collaborating with various mobility services such as Kakao Mobility and launching a new premium travel platform." *TIDESQUARE (www.tidesquare.com)TIDESQUARE is South Korea’s leading technology focused travel agency and operator of OTA brand “Tourvis” and #1 premium OTA brand “Privia Travel”. Established in 2009, TIDESQUARE is a top 3 BSP travel agent (Nov. 2022 BSP ranking) with a strong network of global and local partnerships with industry-leading platform operators including Kakao Mobility, SK Telecom and Naver. TIDESQUARE stands at the forefront of the South Korean travel landscape leading NDC and direct airline connectivity as the first Korean agency to obtain NDC certification.   

2023-12-22

[Press Release] Tourvis x Air Premia, Creating synergies with Korea’s first API integration

[Press Release _202311_3]     Competitive airfare and differentiated servicesTourvis x Air Premia, Creating synergies with Korea’s first API integration   -  Korea’s first direct API connection with Air Premia launched-  Access to lowest fares for all routes as well as booking and ticketing services  -  Enhanced fare competitiveness on mid- to long- haul routes such as Los Angeles and Hawaii -  Plans to expand ancillary services including seat reservation, baggage purchase and online check-in-  High expectations for synergies based on technology and services     Tourvis, an online travel platform, will be the first in Korea to connect via API with hybrid airline Air Premia and provide differentiated services to the market.  The API integration, which was completed Nov. 21, 2023, allows users to find the lowest fares in real time when searching for all Air Premia routes on Tourvis, and also enables instant booking and ticketing. Fares on mid- to long- haul routes such as Los Angeles, New York and Hawaii are particularly competitive after API integration, it is possible to book a flight to Los Angeles at the lowest price of KRW 516,500 (Dec. 6, 2023 departure, one way). Users will also be able to receive discounts of up to 15% when paying with Tourvis partner cards or Kakao Pay, which is expected to help reduce travel expenses.  There are high expectations of positive synergy between Tourvis and Air Premia. Tourvis has connected to 5 of the 8 domestic low-cost carriers and is the first in Korea to connect with Air Premia via API. Air Premia has positioned itself in a niche market as a hybrid airline by providing 42-inch seats that are as spacious and comfortable a business class and offering inflight meals in their premium economy class. Tourvis will focus its technology on services that can maximize Air Premia’s features including ancillaries such as seat reservation, baggage purchase and online check-in.  “This API integration with Air Premia is part of Tourvis’ efforts to provide the best airfare to our customers”, said Park Jung Soon, Executive Director of the Aviation Business Division. “We will continue to expand our business by partnering with domestic and international airlines with our unique technology and provide enhanced customer service as a strategic partner.”  *Tourvis(www.tourvis.com)Online travel platform launched in January 2000. Operated by travel technology company Tidesquare and the first in Korea to provide differentiated services by having its own technology for airlines, hotels, tours and tickets. In 2019, TIDESQUARE was the first in Korea to launch NDC (renamed ARM index from Nov. 2021) content and 2020, it was the first in Korea to simultaneously participate in government-organized “Korean Accommodation Exhibition” and “Domestic Travel Product Discount Support Project.” In 2021 TIDESQUARE continued to strengthen its services including a mileage accumulation partnership with Korean Air.     

2023-12-01

[WiT Seoul 2023_#3] Tech Trends and Customization

[WiT Seoul 2023_#3]Airline Revolution: Traveler Relations, Technology and Distribution Trends WiT Seoul 2023 shone a spotlight on how airline tech and distribution are changing to meet the needs of today's traveler. As Seoul’s Incheon Airport became the largest international airport in APAC by international passenger traffic, in August 2023 - surpassing Singapore Changi Airport - the event featured in-depth discussions with airline representatives, including those from Korean Air, Air Premia and T’way Air. They provided valuable insights into the strategies deployed to forge a closer relationship with their travelers.  Airline-Traveler Relationships Airlines are reassessing their strategies to enhance the traveler booking experience. Korean Air, emphasizing personalized service, has its sights on new distribution capabilities (NDC) to broaden customer choices. Kwang Ho Ko, Managing Vice President at the Regional Headquarters in Korea, notes, “Our investment in NDC aims not just at cost savings, but at diversifying the options available to our customers with more tailored selections. We anticipate the launch of NDC-powered offerings by next year." In a highly competitive market like Korea, hybrid service carrier (HSC) Air Premia is focused on expanding their network and enhancing customer choices through codeshare and interline agreements. CEO Myungsub Yoo highlights the airline’s collaboration with local powerhouses Kakao and Naver to bolster their own content distribution and service recovery framework. “Our goal is to transform our website into a platform that not only serves our needs but also interlinks with other providers and solutions, extending Air Premia’s reach,” he explains.  NDC and Airline Distribution When it comes to distribution, Global Distribution System (GDS) giant, Amadeus, has made headway with NDC, having onboarded over 22 airlines onto the NDC standard. Their view is that NDC isn't just a new distribution channel. “It's an opportunity to provide a better travel retailing experience, offering better product fit, better customization and higher satisfaction,” Renaud Nicolle, Senior Vice President, Travel Sellers, addressed Korean travel agencies in the audience. “This is how you get loyalty, encourage repeat business and drive higher return rates.” It's clear that airlines are keen on diversifying their reach. Lufthansa Group is actively expanding their NDC initiative. Head of Global Distribution, Jose Pereira shared that two-thirds of their tickets are now distributed through NDC channels. They're committed to stabilizing the NDC standards in collaboration with IATA, aiming for full NDC distribution by 2030. KLM’s Boris Darceaux expressed his dissatisfaction in distributing content through traditional GDS ways, “GDS offerings are too inflexible. Our customers need change. That’s why we have removed some product offerings from the GDS channels.” Instead, KLM has set a goal to establish direct connections with partners. Their first direct connection with TIDESQUARE is due to be ready by the end of 2023, a step signaling their adoption of direct booking capabilities. In contrast, instead of NDC, T’way, like many other LCCs have opted for direct API connections with digital channels like OTAs, which serves the same purpose of streamlining distribution.  Route Connectivity T’way Air is gearing up to launch new routes to Europe, riding the wave of excitement from the recent approval of the Korean Air and Asiana Airlines merger. Steve Sukwan Kim, Strategy and Marketing Director of T’way Air, expressed his enthusiasm for this development, which presents a unique opportunity for T’way Air to carve out its distinct identity among eight other Korean LCCs. Air Premia’s routing strategy underwent an adaptation from its initial plan. The airline began by providing connections between smaller cities before realizing its potential to carve out a niche as a hybrid carrier focusing on hub-to-hub routes. CEO Yoo remarked on the success of their Incheon to Los Angeles International Airport (LAX) route, noting it received positive feedback for its comfort and affordability. Air Premia looks set to continue this long-haul strategy, aiming to operate a fleet of 15 active aircraft before considering further strategic shifts.  Tech Trends and Customization Tech has always been the enabler for the industry’s growth. Throughout the event, the ongoing theme was clear: airlines are not just adopting new technologies; they are also integrating them into the fabric of their operations to foster greater connectivity and customization. Lufthansa Group's commitment to NDC exemplifies this, aiming to harness the capability for better dynamic pricing. With advancements in distribution technologies such as NDC, airlines are not only meeting the evolving expectations of today's tech-savvy travelers but are also redefining travel retailing. The push towards personalized services and the pioneering of direct connections shows a shift towards agility and customer-centricity. The future of air travel, as envisioned by the leaders at WiT Seoul 2023, promises a more connected, personalized, and dynamic journey for all. 

2023-11-17

[WiT Seoul 2023_#2] Transforming Travel: Trends Shaping the Travel and Tourism Industry

[WiT Seoul 2023_#2] Transforming Travel: Trends Shaping the Travel and Tourism Industry(Key Insights from WiT Seoul 2023) As the travel and tourism industry continues its recovery post-pandemic, this year's WiT Seoul 2023 shed light on valuable insights and emerging trends shaping the landscape. Hosted by WiT and Tidesquare annually since 2016, this year saw the largest ever WiT Seoul event with a total of 450 attendees across two days.The conference served as a platform for thought leaders and industry giants to explore the evolving travel landscape. From the changing role of OTAs to significant trends in the hospitality sector and the experiences space, here's a comprehensive look at what's driving innovation in the industry.The Evolving Role of OTAs   The demand for Fully Independent Travelers (FITs) and small group travel experiences is on the rise, with travelers seeking more personalized adventures that take them off the beaten path. Jay Lee, Director, South Korea of Agoda highlighted the growing preference for smaller travel groups exploring new destinations. As travel becomes increasingly about unique experiences than cookie-cutter tours, OTAs are adapting by offering diverse and tailored options.   According to Hanna Sim, from Trip.com, the mobile generation is a driving force behind this shift. OTAs are no longer just about booking flights and accommodations; they are evolving into one-stop platforms that offer a wide array of experiences, activities, and services. This diversification reflects the industry's response to evolving customer preferences.   Klook's insights reveal the growing influence of social media platforms like TikTok and Instagram on travelers' decisions. James Lee, General Manager of South Korea, emphasized, "Social was just an inspiration channel, but now they are becoming review channels that can actually drive conversions." Travelers are increasingly relying on user-generated content and recommendations from their peers, emphasizing the need for OTAs to harness the power of social media in their strategies.Transforming the Hospitality SectorSustainability remains a high priority for the hospitality industry. Many hotels are adopting eco-friendly practices, making conscious efforts to reduce their carbon footprint. This aligns with the preferences of travelers who are increasingly choosing accommodations that reflect their environmental values. Representing KGH Group, Rajan Sakya said, “People book rooms based on how environmentally conscious we are.” Sustainability is no longer just a buzzword. Accor’s Ollie Ansell aptly pointed out, “What we do with sustainability has driven some business travelers to choose our hotels.” Technology is becoming an integral part of the hotel experience, enhancing customer convenience. From contactless check-ins to in-room automation, hotels are leveraging AI and personalization to make stays more comfortable and tailored to individual preferences.   As hotels embrace technology, Seungdo Woo from Amazon Web Services (AWS) suggested tackling labor shortages through enhancing the automation of specific operations, like guest assistance, while ensuring that the human touch remains a crucial element of guest experiences.  Travel builds bridges between humans TIDESQUARE’s CEO, Min Yoon, said “We gravitate towards human stories that make us feel at home.” Travelers are now eager for local-driven activities. As YoonYoung Choi of BeMyGuest also pointed out, "Inbound travelers want to do the same as what the locals do." The rising demand for inbound travelers to Korea to engage in activities like “queuing at local stores or enjoying chicken and beer at local spots” underscores the shift towards more culturally immersive travel. According to research and data firm, Consumer Insight, since the pandemic, travelers tend to stay longer in destination and spend 13% more than before. We have also seen unique travel packages gaining popularity. OTAs are partnering with local businesses and niche providers to offer specialized packages. For instance, Klook partnered with a K-pop dance studio to create a 5-day package, catering to fans of Korean pop culture. Food experiences and culinary tourism are also on the rise. Travelers want to explore local cuisines, and OTAs are making it easier for them to book food tours, cooking classes and other culinary adventures. In Korea, Hanbok rentals and cultural experiences are also trending, allowing travelers to engage with the heritage of their destination.  Key Opinion Leaders (KOLs) are playing an increasingly influential role in promoting travel experiences. For Trip.com, content created by KOLs and influencers can reach viewerships of over 100 million. Both Klook & GoCity’s Will Choi agreed, "KOLs have become a conversion tool" as their content not only inspires, but also influences travel choices.   Corporate Travel Recovery and Airline NDC   Corporate travel is gradually recovering. Based on Global Business Travel Association (GBTA), Asia Pacific was the region with the slowest business spend growth at only 15%, compared to global spending growth of 80%. However, Sabre’s Brett Thorstad noted that in 2023, the recovery in South Korea and the Asia Pacific has already surpassed the levels seen in 2019, pre-pandemic.   Renaud Nicolle of Amadeus shared how they’ve developed a new prototype with Accenture, using the power of natural language processing to better cater their offerings for corporate travelers.   The growth of this segment hasn't gone unnoticed by travel suppliers. Atlas’ Clive Ashmore Butler discussed how low cost carriers (LCCs) have begun targeting corporate travelers by introducing more focused product bundles. Jose Pereira of Lufthansa shared that the airline has invested in a technology partner, Spotnana, to help them capture a share of the corporate travel market.   Technological investments made during the pandemic have also led to more airlines embracing New Distribution Capability (NDC) to modernize their distribution channels and simplify complex bookings. This move is aimed at providing a more efficient and customizable experience for travelers.     Embracing the Future of TravelAs travelers continue to seek more personalized and enriching experiences, the travel industry is responding with agility and innovation. However, in an industry that caters to people’s desires to explore the world and create lasting memories, there has to be a delicate balance between technology and the warmth of human interactions. As Jason Chan from Cinewave noted, "Imagination and kindness" are essential human traits that distinguish us from machines and robots. WiT Seoul 2023 provided a glimpse into the future of travel, where technology, sustainability, and personalization will collectively shape the way we explore the world.

2023-11-17

[WiT Seoul 2023_#1] Unlocking the Future: Key Trends and Insights from Korea's Travel Startup Scene

[WiT Seoul 2023_#1] Unlocking the Future: Key Trends and Insights from Korea's Travel Startup SceneKorea's travel startup landscape is in the midst of a transformation and the recent inaugural K-Travel Tech Summit provided valuable insights into the key trends shaping the industry. Aimed at connecting startups with investors and industry leaders, the event was an open space for knowledge sharing, as well as elevating the global presence of Korean travel brands.This event was the first of its kind in Korea, targeting the travel startup community. Organized by Korea Tourism Organization (KTO), in collaboration with TIDESQUARE and WiT, thought leaders, startups, and industry giants cametogether to discuss the latest developments in the travel sector.In his opening statement, Director General, Tourism Industry Policy Bureau of the Ministry of Culture, Sports and Tourism, Hoseong Yong, talked about how in this post-pandemic era, “Tourism businesses have had to innovate in order to stay competitive.” Moving from traditional business practices, many have invested in upgrading their technical capabilities and the ministry is “fully supportive” of these initiatives to drive the industry forward.  Data and Technology for Enhanced Experiences Technology and data-driven insights, as highlighted by Kakao Mobility and Naver, emerged as key tools forenhancing travel services and customer experiences. Kakao Mobility shared insights into their plans to establish a global Mobility as a Service (MaaS). Currently, Kakao Mobility serves as a multi-modal distribution platform, allowing users to book all forms of transportation from typical ride hailing services to pre-booked transfers and micro-mobility facilities like bike or e-scooter sharing. They even provide flight booking capabilities, powered by travel partner, TIDESQUARE.  To transform the mobility landscape further, Kakao Mobility’s MaaS vision centers on using their access to global mobility data and the latest in AI to drive personalization and deliver a seamless, user-friendly experience for all transportation users. Naver’s language research team at NAVER AI Lab, demonstrated the role of generative AI and natural language processing (NLP) in content creation, offering a glimpse into the future of creating personalized content for travelers. With these great developments, they also cautioned against the potential ethical concerns that could bring about malicious use of this new-age technology.    Redefining The Way We Travel“The future lies in the hands of ‘crazy’ people who think they can change the world,” said Onda’s CEO, Kevin Hyunseok Oh. The industry is now seeing more startups redefining the way we sell and experience travel by addressing niche markets and catering to diverse needs.Amuse Travel specializes in offering customized services to vulnerable groups, such as senior citizens and children, aiming to make travel more accessible for everyone. Solo women travelers can turn to NomadHer for support whenever they want to travel.Hanseek is the tool of choice for inbound travelers who need local food recommendations, while Farmpartia sources local food ingredients while providing culinary experiences, emphasizing the importance of understanding the origin of what we eat.Travelholic, with its impressive 3.7 million followers, has redefined content creation by co-creating short-form content and travel products with its community.  Scaling Up Through Partnerships and Investments   Yanolja, a prominent player in the Korean travel industry, shared the significance of investments and partnerships in scaling up its business. By leveraging partnerships and acquisitions both within and outside the travel industry, Yanolja has been able to expand its geographical reach, contributing to Yanolja's rapid international growth. With the popularity of K-dramas like King The Land bringing about the rise of Korean travelers to Thailand and Thai travelers to Korea, Thai travel experience providers, TraveliGo and TakeMeTour took the opportunity to announce their new partnership on a Korean stage. Launched as Gother, this collaboration received THB 50 million (approximately KRW 1.8 billion) investment from Kasikorn Bank to expand their growth beyond Thailand, into Korea, Japan and Singapore.   Global Expansion in Focus Based on a Phocuswright study, 2023 saw a sharp drop in investment funding for travel startups globally. However the same study identified short-term rentals and the business-to-business(B2B) sectors as the verticals with the highest investment growth potential.  Renowned Korean entrepreneur, Donggun Lee, CEO & Founder of MyRealTrip, shared how he started MyRealTrip started as a tours and activities platform for South Korean travelers and has now evolved into a full-fledged online travel agency (OTA) with a physical store. The move has allowed MyRealTrip to expand their market reach and include a new segment of travel buyers who are more comfortable making “more expensive” purchases offline.   “As an OTA we run a traditional business, connecting travelers to travel suppliers. But to give an unforgettable experience, we need to customize and design unique experiences for our travelers.” Lee's insights showed the newer entrepreneurs that adapting to changes and being flexible are key qualities for navigating the industry.  An Ecosystem on the RiseIn the words of Jiha Jung, CEO & Founder of Tripbtoz, “Without communication, there can be no innovation.” The K-Travel Tech Summit represents the beginning of a vibrant community that includes startups and forward-thinking industry leaders. This community can be expected to grow and play a crucial role in driving innovation within Korea's travel startup ecosystem. The discussions held highlighted the importance of adopting technology, forming industry partnerships, and nurturing global ambitions to shape the future of travel in South Korea.  

2023-11-16

[Press Release] TIDESQUARE hosts

[202309_1] Korea's Only Global Travel Marketing ConferenceTIDESQUARE hosts The Human Revolution>       - Held November 2, 2023 at the Fairmont Ambassador Seoul Hotel- Learn about new trends in the travel industry and the role new technology including AI will have on the future of travel - Attended annually by travel industry leading experts including Yanolja, My Real Trip, Agoda and more. - Save 20% with the Early Bird Rate if you book by Oct. 10    Travel tech company TIDESQUARE hosts South Korea’s only global travel marketing conference at the Fairmont Ambassador Seoul Hotel on November 2, 2023. WiT Seoul is actively attended by leading domestic and foreign industry experts every year as they discuss new trends and share ideas on the global travel industry. This year, the theme is “The Human Revolution”, which emphasizes the need for a human revolution in the age of AI with various sessions, panel discussions and networking events planned focusing on human-centered innovation and change. Yanolja, MyRealTrip, Korea Tourism Organization, Naver Cloud and more will be leading 20+ themed sessions including ▲ Trends Driving Online Travel in Asia ▲ K-pop, Top of the Pops, Things To Do: It's All In The Experience ▲ Content Creation In The Age of AI. The conference is expected to be a meaningful time to explore human-centered innovation strategies and future direction in the rapidly changing travel market, share industry trends and prospects through networking, and build new business partnerships. Min Yoon, CEO of TIDESQUARE, said, "By holding a global travel marketing conference in Korea, we continue to contribute to the development of the travel industry and provide an opportunity to share the latest trends and future strategies with global experts." Tickets can only be purchased online. Save 20% with early bird fares if you book before Oct. 10. More information can be found on TIDESQUARE’s official website. This year event participants will also be able to attend Korea Tourism Organizations , held at the Fairmont Ambassador Seoul Hotel on Nov. 1. Organized in collaboration with the conference, the event is designed to introduce key trends and the status of global travel technology companies to tourism startups selected and supported by the Korea Tourism Organization, and provide opportunities for global expansion and investor connections. Major domestic and international venture capitalists and travel technology companies will participate in sessions to share their experiences and present their vision for the travel market. WiT Seoul has been co-organized by TIDESQUARE * and WiT (Web in Travel)* since 2016. Last year's WiT Seoul 2022: Hello, New World was attended by 300 industry leaders, experts, and related industry workers, including Korean Air, Hana Tour, Yanolja, and Agoda. *INQUIRY - Application and registration: https://event-us.kr/munwhaInfomation/event/69820- Contact: witseoul@tidesquare.com WiT / www.webintravel.com WIT is a content, events and community platform for anyone passionate about the online travel space in Asia Pacific.  It comprises the signature WIT Conference in Singapore, WIT editions in Tokyo (Japan & North Asia), Seoul (South Korea), Dubai (Middle East), Cape Town (Africa) and Amsterdam (Europe), a news portal, WiT Podcast and WiT Virtual.  Founded in 2005 by Yeoh Siew Hoon, it is now part of the Northstar Travel Group. Since its establishment in 2016, WiT Seoul has continued to grow, with more than 120 travel related companies and 37 domestic and foreign influential speakers attending each year.  * TIDESQUARE / www.tidesquare.com  TIDESQUARE operates South Korea’s #1 premium OTA brand “Privia Travel” and is one of the leading travel technology companies in the region. Spearheading technological advancements and achievements through a network of strategic local and global partnerships, TIDESQUARE aims to drive travel technology connectivity and distribution to provide best in class products and services to partners and customers both domestically and internationally. TIDESQUARE stands at the forefront of NDC and airline direct connectivity in Korea and also maintains an exclusive distribution network to industry leading companies such as Hyundai Credit card, Kakao Talk, Kakao Mobility, SK Telecom and more.   

2023-09-11

[Notice] ‘WiT Seoul 2023: The Human Revolution’

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2023-08-17

[Press Release] TIDESQUARE, Dubai Tourism Board 2023 Promotion(Kor ver.)

[보도자료_202305_1]    두바이 여행 최신 정보 업데이트     타이드스퀘어X두바이관광청, ‘2023 두바이 여행 전용관’ 오픈                 - 두바이 대표 관광지, 쇼핑센터 등 최신 여행 정보 제공    - 럭셔리, 아이 동반 등 테마별 추천 호텔 및 혜택 제공- 사계절 내내 즐길 수 있는 투어&티켓 추천 및 혜택 제공      트래블테크 기업 타이드스퀘어가 두바이관광청과 협력하여 ‘2023 두바이 여행 전용관’을 오픈했다.  두바이는 사막과 바다가 공존하는 지형과 미래 도시에 있을 법한 독특한 건물의 조화로 색다른 경험이 가능해 매년 많은 여행객이 찾는 곳이다. 코로나19가 완화되고 해외여행 및 비즈니스 출장 수요가 증가에 따라 타이드스퀘어는 현대카드와 제휴하여 운영하는 ‘현대카드 PRIVIA 여행’ 사이트에 전용관을 구성하고 주요 관광지, 테마별 호텔, 추천 투어&티켓 등 다양한 상품 정보와 혜택을 풍성하게 담았다. 전용관 내 [주요 관광지] 섹션에는 세계에서 가장 높은 부르즈 할리파부터 축구장 50개 규모에 달하는 두바이몰까지 인기 명소 9곳을 엄선하여 준비했다. [추천 호텔] 섹션에서는 인피니티 풀이 있는 5성급 중심의 럭셔리 호텔, 어린이 전용 편의시설이 갖춰져 있는 가족동반 추천 호텔, 가성비 높은 호텔까지 테마별로 호텔을 준비해 취향대로 편하게 선택할 수 있도록 구성했다. [추천 투어&티켓] 섹션에서는 두바이 올인원 패키지, 세계에서 가장 큰 실내 테마파크인 두바이 IMG 월드 오브 어드벤처 입장권, 레고랜드 입장권 등 사계절 내내 즐길 수 있는 액티비티를 한눈에 볼 수 있어 여행 계획 시 유용하게 활용할 수 있다. 또한 전용관의 추천 상품 예약 시 회원 전용 특별 혜택을 받을 수 있어 두바이 여행 활성화에 도움이 될 것으로 기대된다.       타이드스퀘어는 독보적인 자체 기술을 중심으로 온라인 여행 플랫폼을 운영하고 있으며, 두바이 여행 전용관 같은 전문적이고 세분화된 프로모션을 포함하여 새로운 서비스와 혁신적인 아이디어로 국내외 여행 시장에 선도적인 역할을 할 예정이다.   *타이드스퀘어 (www.tidesquare.com)프리미엄 브랜드 ‘현대카드 PRIVIA 여행’을 운영하며 특화된 상품 제공으로 차별화된 영역을 구축하고, 2017년 인수한 SK투어비스를 온라인 여행 플랫폼 ’투어비스’로 확장하여 OTA 및 비즈니스여행 관리 영역에서 시장 점유율을 확대하였다.2021년에는 대한항공과 마일리지 적립 제휴 및 카카오모빌리티와 손잡고 항공권 검색/예매/발권이 가능한 카카오 T 항공을 론칭하여 여행 서비스를 다각도로 강화했으며, 국내에서 유일하게 정부 주관 <대한민국 숙박대전><국내여행 할인지원사업>을 동시에 진행하며 국가대표 여행플랫폼으로 입지를 다졌다.또한 설립 7년 만에 국내 종합여행사 5위권(BSP 기준)에 진입하며 빠르게 성장하는 것은 물론, 국내 최초 ‘NDC Capable Level 3’ & ‘NDC Aggregator Level 4’ 인증을 획득하며 독보적인 트래블 테크(Travel tech) 기업으로 자리매김하고 있다. 

2023-05-19