Competitive Travel Marketplace Essential During Inflationary Times Statement from Travel Technology Association

Competitive Travel Marketplace Essential During Inflationary Times Statement from Travel Technology Association

The Travel Technology Association (Travel Tech), the voice of the travel technology industry, released a statement today to continue to advocate for competition in the marketplace.

With demand for travel remaining extremely high combined with rising fuel prices and other inflationary pressure, travel industry leaders facilitate a competitive and transparent marketplace for consumers. Reducing consumer costs and stretching their dollars allow for extended stays or spending more while at a destination.

Statement from Travel Tech CEO, Steve Shur

“With pent-up demand from pandemic lockdowns, along with covid-era restrictions easing, the desire to travel is increasing. The return of business travel is also on the rise.

As consumers face higher prices across the board for all goods and services they must prioritize value – and search for deals. As prices rise – it takes marketplace competition to drive them down. Industries with a robust competitive marketplace (like travel) force suppliers such as airlines, hotels, car rental companies, and short-term rental operators to compete for consumers on price, value, services, and offerings.

When consumers have access to this competitive marketplace, empowered with information, transparency, and options, they can prioritize and make the best decisions for their specific itineraries.

Consumers, businesses, and governments want and need a thriving travel industry. Thousands of businesses supported by travel and tourism benefit greatly from discretionary funds spent while traveling. In an era of inflation, a robust travel marketplace can help keep consumer costs low and support businesses, jobs, and the economy. The world’s leading online travel agents, metasearch platforms, travel management companies, global distribution systems, and short-term rental platforms are leading the way toward economic recovery by facilitating and maintaining the marketplace for travel.”

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About US Travel Tech

The Travel Technology Association (Travel Tech) is the voice of the travel technology industry, advocating for public policy that promotes transparency and competition in the marketplace to encourage innovation and preserve consumer choice. Travel Tech represents the leading innovators in travel technology, including global distribution systems, online travel agencies and metasearch companies, travel management companies, and short-term rental platforms.

 

 

To schedule an interview with Steve Shur of Travel Tech contact Dan Rene of kglobal at 202-329-8357 or daniel.rene@kglobal.com.