Tech budgets on the rise for buyers in travel industry

Technology budgets are on the rise for more than half (58%) of buyers in the travel industry, according to a new survey by Travel Technology Europe

The percentage has continued to increase for the second year running, with 57% confirming their budget has increased in 2016 compared to 2015.

When questioned about the frequency of technology investment, almost a third (29%) said they buy at least once per quarter, 39% every three to 12 months, and 28% every one to two years.

“Many technology budgets keep increasing and many keep investing in new technologies every quarter,” said David Chapple, event director for Travel Technology Europe.

“The biggest challenges for the industry are mobile, competition, fraud, social, VR and Europe, whereas the industry is most excited about mobile, VR, AI/Chatbots, payments (Blockchain), social media and 3D.”