Hi Alicia, | People often call my attention that there is something a bit off about the travel industry - and once you know it, you just can't unsee it… | Despite women being the ones behind more than 70% of travel purchases and making up 55% of the industry, they barely snag more than 8% of those top-tier board and executive roles. It seems like orchestrating a perfect getaway but missing out on booking accommodation - it just doesn't quite match up. | While the travel industry knows how to book a trip to anywhere on Earth, it still seems to need help with booking a seat for women at the leadership table. | Here's a little-known fact: Studies consistently show that companies with a diverse mix of leaders tend to perform better. Think about it - McKinsey & Company found that businesses with a good mix of diverse leaders are 15% more likely to rake in higher financial returns. So, it's not just about fairness; it's about boosting innovation and making smarter decisions. | "Tourism as a sector offers women considerable options for entrepreneurship that do not require heavy start-up financing. However, women's tourism entrepreneurship is held back by a lack of access to technology, information, business skills, education and training." | | | | UNWTO, Global Report on Women in Tourism |
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| Having more women in leadership isn't just a win for companies; it's a win for travelers too, since women make up a big chunk of the people hitting the road. Having different perspectives at the decision-making table means a better understanding of what travelers really want and need. | Now, to the good side of things. There are people out there who are acting on this - rolling out initiatives left and right to give women in the travel industry the leg up they deserve. People paving the way for a more inclusive environment where women can thrive, by shaking things up and encouraging collaboration. | A prime example is wmnsWORK Tourism Accelerator, a 12-week virtual, global accelerator program designed specifically for women and non-binary entrepreneurs in the tourism industry (tour operators, travel advisors, inbound operators, and hotels) during the early stages of their businesses. The program was created to support foundational knowledge and essential mindset skills to navigate tourism entrepreneurship and was built on three pillars: Expert-Led Education, Mentorship, and Community Support. And hey - applications are open for their next cohort, which starts September 16, 2024. | The ultimate goal is to create businesses that are as diverse as the travelers they serve. In a world where travelers come in all shapes, sizes, and colors, the leadership of the travel industry should finally embrace the rich diversity that surrounds it. Let's add some more colors to the boardroom, shall we? | Half of the world's population is women, and the other half are their sons. So I hope you find a good reason to celebrate the women in your life this week <3 | | Here is this week's curation of the main news on innovation, trends, and startups from the travel industry. Let's go: | Snackbotting around the terminal. Munich Airport introduces the world's first "snackbot" robot, offering drinks and snacks for purchase via cashless methods. Developed by German-startup Robotise, the 110cm-tall robot moves autonomously and stops when passengers come near it or step into its path. This is part of Munich Airport's goal to improve logistics, research passenger acceptance, and create added value for travelers, reinforcing its status as a premium innovation hub. 🦄 New unicorn alert. Let's take a moment to celebrate the rise of a new unicorn? It's not just about a fancy valuation, but what it represents for an industry that was barely hanging on during the pandemic just a few years back. It's a sign of hope for all the players shaping the industry forward. This week Mews joined the "unicorn club" after raising €101 million in their latest funding round. Cheers to that! In addition, they also announced a new partnership with Amadeus, to empower hoteliers to customize their tech setups, enhancing guest experiences, streamlining journeys, and cutting administrative tasks. Digital identity in travel. SITA's investment in Indicio's Series A funding highlights how crucial digital identity solutions are for travel. They're teaming up to shake things up in how passenger data is managed and secured, making travel smoother and safer. Great to see players moving forward with digital identity solutions for travel. Bursting the chatbot bubble. Earlier this week Kayak has announced the launch of some interesting AI tools. One example is PriceCheck. Imagine snapping a screenshot of your flight info, and then their new tool goes to work, hunting down better deals for you? I think this is pretty cool. They've also rolled out "Ask Kayak" which makes it easy for travelers to get personalized results for their trips. the new tool lets users narrow down choices by typing in specific needs, like preferred airline, departure time and prices. This new rollouts reflect part of Kayak's ongoing work with AI, and we are curious to see how they will keep pushing the bar when it coems to using AI for better travel solutions. Hotels brands & hotel chains. One of my favorite business newsletters Morning Brew did a very easy-to-follow video explaining how different hotel chains launch various brands - and what it means for business. It's in really simple language, so anyone can grasp the ins and outs of the hospitality industry strategy. It's short, but definitely worth a watch!
| This is it for this week. As a final note, if you're a woman holding a leadership position in the travel and tourism industry: thanks for stepping in. I mean this sincerely, even with thousands of others reading this. One woman leader to another: thank you <3 | See you next week,
Ana | | | | | Checkpoint: Weekly Opinion Vote | Do you actively look for diverse perspectives when making decisions? | | → Click here to see the results of our last poll. |
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| Thank you for reading until the end. | The content of this newsletter is curated and published by Ana Metz, an innovation expert, passionate about technology and excited about the future of travel.
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