Tourism is the world’s largest industry, one worth over $300 billion annually. As the travel market grows, so does its inefficiencies. From booking to checkout and everything in between, today’s processes are scattered and fragmented. As a result, tourism operators must produce multiple packages for guests who have different needs and expectations. Furthermore, managing services such as reservations and payments for various accommodations, activities and transportation providers is time-consuming. Removing these layers of redundancy would reduce costs for operators while providing a better user experience for guests. New package holidays are helping to streamline this fragmented marketplace by unifying the supply chain through blockchain technology and smart contracts. This article highlights four ways that package holidays make tourism easier.
Booking and payments are transparent
The first way that package holidays make tourism easier is by making booking and payments transparent. On the blockchain, every interaction, and its related terms, conditions and agreements, is logged and timestamped. This creates a permanent and unchangeable record that allows guests to see exactly what they’re paying for and how much they’ll pay. The booking process is also more streamlined. With blockchain-enabled booking platforms, guests can search for activities and accommodations and make one single payment for their entire trip. The entire process is transparent, which empowers travelers to make informed decisions. This level of transparency is especially important for package holidays that include services from other providers. For example, with an excursion to a nearby beach, the guest will book through their tour operator, but the payment will go directly to the beach.
Travelers have more control over their trip
Another way that package holidays make tourism easier is by giving travelers more control over their trip. Rather than relying on a single operator for all of their itinerary, guests can book different activities and accommodations from different providers through a single platform that’s powered by blockchain technology. Unified booking and payment portals mean guests can tailor their trips to their specific needs and preferences. For example, someone who is allergic to certain foods can select a restaurant that can accommodate their dietary restrictions or travelers can book transportation that meets their needs based on age or disability. This level of customization provides guests with a better experience while lowering costs for operators. By removing the need for multiple communication platforms, blockchain-based platforms centralize information and make it easier to manage. Likewise, it also provides travelers with complete transparency, so they know exactly where their money is going.
There’s less fraud and risk of loss for travelers
The travel industry loses billions of dollars each year due to fraud and improper payments. Unscrupulous operators take advantage of the fragmented marketplace by cashing checks before the trip is booked or booking guests for the wrong dates. Instead of working with a single operator, guests purchase each service, from food to transportation, separately, which increases the risk of fraud and loss. By bringing all of these services onto a single blockchain-based platform, guests can book and pay for everything on a single platform. Once everything is booked, the smart contract ensures that all payments are released only when the trip is confirmed and that all services have been delivered as promised. For example, a guest who books a trip to the beach with a tour operator who has an excursion to the nearby rain forest. The tour operator would book the beach excursion on a single platform and the rain forest tour on another. The ocean trip would be paid for on the beach tour operator’s platform and the jungle excursion would be paid for on the tour operator’s platform. There would be no interaction between the two operators.
Tourism operators save money
The last way that package holidays make tourism easier is by saving operators money. With blockchain technology, operators can centralize services and create a single platform where they can manage their entire operation. This includes inventory management, payments and guest relations. For example, operators can use an integrated communications platform to survey guests to better understand their experiences and preferences. This information can be used to refine their offerings and improve future experiences. Operators can also use an integrated payment platform to receive payments for a variety of services. By receiving payment on one platform, operators can avoid the cost of setting up other payment portals. Additionally, operators can use an integrated inventory management system to streamline their services.
Overall, package holidays make tourism easier because they bring services together into one place. Tourists can book transportation, attractions, hotels, and other services from a single website, with everything linked together by a blockchain system. With one place to book everything and one payment for everything, the booking and payment process is more streamlined and transparent. This can help travelers avoid booking mistakes, save time, and avoid extra costs. While this can be helpful for consumers, it also makes it easier for operators to run their businesses. When everyone is on one platform, it’s easier to manage communications with customers and suppliers.