Destinations and their hospitality and tourism businesses have become more and more dependent on global market dominating value chains to which up to 60% to 80% of their profits are given away.
While the global traveler community has become digital and 80% of travel is being researched online and 60% of travel is being booked online, destinations and the majority of hospitality and tourism businesses are still not using available technology to run their business. They have been cut off from their customers, the travelers and have left the field wide open to disruptors such as Online Travel Agents and Meta Platforms.
This results in the destination’s tourism hospitality businesses passing on a large portion of their profits to these disruptors and their shareholders all of whom are located elsewhere and not in the destination country. They achieve this without owning and bearing the cost and risks associated with the tourism and hospitality business. This is money leaking out of the destination and not contributing to the businesses, people and communities and their prosperity.
The Digital transformation initiative, democratizing of technology and the rainmaker destination open platform and ecosystem will disrupt this not sustainable business model and help create an economical sustainable tourism development, contributing to the UN sustainability goals.
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