Rising globalization, increasing trade volumes, and positive economic outlook are a few of the major macroeconomic factors driving the growth of the tourism market. Growing digitalization of payments and travel bookings is another important reason that is increasing the demand for travel solutions across the world. In the past 5 years, the launch of new tourist destinations offered lucrative opportunities in the global travel and tourism industry. With rising number of tourism operators, there is an increasing demand for fascinating tours packages. Travel technology software are used across the hospitality and travel industry to provide information along with communication technology to the user, which is driving the growth of the tour operator software market. Xola, Inc.; Travefy, Inc.; Rezdy Pty Ltd; TRYTN; TrekkSoft AG; and Checkfront, Inc. are among the key players that have been profiled during the study of the tour operator software market.
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Impact of COVID–19 Pandemic on Tour Operator Software Market
The emergence and outbreak of COVID-19 is adversely affecting numerous developed and developing countries. As of December 2020, the US, India, Brazil, Russia, and France are among the worst affected countries in terms confirmed cases and reported deaths. The outbreak is hindering economies and numerous industries in various countries due to lockdowns, travel bans, and business shutdowns. Lockdown across many countries is hampering the travel and tourism sector. The temporary restrictions on the domestic and international travel by the government of different regions is also showcasing negative trend in the tourism sector. The continuity of the COVID-19 spread, would be severely dangerous for the tour operator software market players in the coming years.
With the presence of several scenic destinations in the developing economies, there is a growth in the tourism sector. For instance, Nepal is leveraging the tourism sector owing to the presence of Himalayan and Mt. Everest ranges. Nepal tourism offers robust services for Dolpo and Simikot Trek, and to sightsee various hidden valleys in Nepal. Additionally, India’s Goa Tourism Development Corporation (GTDC) announced its plan to have a heli-tours. The project was commissioned by the Government recently. These tourism developments boost the adoption of tour operator software, which facilitates tour operators to offer attractive tour packages to these places. It is anticipated that the introduction of tour operator software will be adding another attraction to the adventure tourism portfolio in the developing economies. Pakistan also has an enormous tourism potential, and it provides a huge infrastructure network for international tourists owing to the development of the China–Pakistan Economic Corridor (CPEC). Such initiatives are anticipated to be opportunistic for the tour operator software market growth.
The players operating in the tour operator software market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
- In March 2020, GP Solutions GmbH and ComBtas established a strategic partnership. This alliance is intended for customers present in the Israeli market. With this collaboration, ComBtas would promote GP Solutions’ turnkey products including GP travel enterprise and GP travel hub.
- In April 2019, Rezdy and SeaLink Travel Group announced a strategic partnership. Rezdy would connect SeaLink Travel Group’s suite of products to distribution partners globally delivering a seamless booking process.
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