Latest news with #businesstravel
Skift
2 days ago
- Business
- Skift
Amex GBT, Amadeus: AI Usage is Getting Cheaper, Voice May Be a Gamechanger
Generative AI is becoming more accessible in several ways: At large businesses, costs per transaction are falling, and voice-to-voice interactions may provide an ease of use that brings AI to the masses. While building cutting-edge AI models remains an expensive proposition, the actual cost to use them is nosediving. That's the view of Rodrigo Acuna Agost, head of research and the AI Center of Excellence at Amadeus. "In 18 months, I think it's decreased ... 240 times less," Acuna Agost said, referring to the cost per token in GPT-4. He estimated the cost of using "voice-to-voice and phone" is roughly $1 per conversation. Marilyn Markham, vice president, AI strategy and automation at Amex GBT, agreed that the "cost per transaction is decreasing ... it's actually quite inexpensive," but pointed to other factors that need to be considered in the financial equation. "But the investment to transform the systems still needs an ROI," Markham said. "So because of that, it doesn't automatically decrease the price of service because of all it takes to actually get to that point and maintain it. And all of that is done by people, so it's kind of displacing where the cost actually is for servicing our customers." The two discuss these trends during an on-stage discussion at the Skift Data + AI Summit in New York Wednesday. Here are some other takeaways from the session. AI May Be More Useful in Leisure Than In Business Travel "I think business travel restricts us in using the full power of AI unless we decide to do more bleisure," Amex GBT's Markham said. She said leisure travel is more collaborative — you plan trips with your friends — than business travel, which has strict rules and policies. "So applying rules ... going to Gen AI for that is not going to be your best bet," Markham said. The Effort to Get Employees to Adopt AI Markham said sometimes when the company onboards generative AI, "the rumble in the room is there goes my job." It takes "a lot of human labor," including team meetings and town halls, "to bring people along," she said. "Sometimes just giving them a taste of the drug and getting them a little addicted, and going like this is amazing, it helps me in my work." Voice to Voice Interactions Could Be the Next Big Thing Acuna Agost of Amadeus said voice-to-voice interactions — talking to an AI agent and listening to its answer — may democratize AI because writing skills are not required. His research team is experimenting with voice-to-voice in multiple languages. "We switch from Spanish to French to English, and you get the response in natural language," Acuna Agost said. "So imagine all people, different nationalities, all will have access to AI." Data for Personalization 'Is Not Fully Exploited' Business travel is not taking advantage of the data it already has to enhance personalization. "You're not the only person who travels for this project," Markham said. "I have your data, and I have the data of all your colleagues who go back and forth. If we could extract and use that data, you would find that we can leap forward in personalization and get something that's pertinent, even if it's your first time traveling to the New York office. Others have done it. We know how it works. We can recommend. So I think there's this data. It's not fully exploited yet."
CNA
2 days ago
- Business
- CNA
China launches ‘ASEAN visa' for 10 ASEAN countries and Timor-Leste
SINGAPORE: China has rolled out a special multiple-entry 'ASEAN visa' for business personnel from the 10 ASEAN (Association of Southeast Asian Nations) countries and ASEAN observer Timor-Leste, its foreign ministry announced on Tuesday (Jun 3). The ASEAN member states are Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar and Cambodia. Eligible travellers from the 11 Southeast Asian countries visiting China on business - along with their spouses and children - will be offered the 'ASEAN visa'. This visa allows multiple entries within five years, with each stay lasting up to 180 days. With frequent visits between the people of China and Southeast Asian countries, the new scheme aims to 'further facilitate cross-border travel in the region', Chinese foreign ministry spokesman Lin Jian said during a routine press conference. The new 'ASEAN visa' scheme comes on top of existing visa-free agreements that China has with countries in the region including Singapore, Thailand and Malaysia. Singaporeans and Chinese citizens currently enjoy mutual visa-free travel arrangements for up to 30 days, under an agreement that took effect in February last year. Travellers from Malaysia and Thailand also enjoy similar visa-free travel arrangements with China. The 'Lancang-Mekong visa' scheme, launched in November 2024, offers business travellers from Cambodia, Laos, Myanmar, Thailand and Vietnam five-year multiple-entry visas with a maximum stay of 180 days. To attract more global tourists, China has ramped up visa-free travel arrangements with multiple countries. On Jun 1, China began implementing a trial policy granting unilateral visa-free entry to citizens of Latin American countries including Brazil, Argentina, Chile, Peru and Uruguay. Beijing has also recently rolled out visa-free access to all Gulf Cooperation Council (GCC) countries. In the first quarter of this year, China received over 9 million foreign visitors, an increase of more than 40 per cent compared to the same period last year, according to Lin. 'The growing list of nations granted visa-free entry into the country reflects China's strong commitment to advancing high-level opening up, while the continuous optimisation of measures to facilitate cross-border personnel exchanges underscores China's concrete efforts to help build an open world economy,' Lin said. 'China will continue to improve entry policies and add more countries to the visa-free list, to allow more foreign friends to visit China to experience our excellent and diverse products and services.'
Al Bawaba
2 days ago
- Business
- Al Bawaba
Tourism spending in the Middle East is projected to reach US$350 billion by 2030, according to a new travel industry report
A new report compiled by Tourism Economics on behalf of Arabian Travel Market (ATM) predicts that by 2030, total tourism spend in the Middle East will be 50% higher than in 2024, generating expenditure of nearly US$350 ATM Travel Trends Report 2025 reveals insights into the trends and transformations redefining the travel sector in the Middle East and worldwide, including the surge of business travel, the growth of the luxury segment, and the boom in regional sports tourism. The report highlights exceptional growth in Middle East travel spending, projected to exceed 2019 levels by 54% this year and anticipates an annual growth rate of over 7% from 2025 to Curtis, Exhibition Director ME, Arabian Travel Market, said: 'The report's findings confirm that travel growth in the Middle East is incredibly strong, with annual growth averaging more than 7% through 2030. Bold national visions, game-changing developments, and enhanced connectivity are some of the key factors driving this momentum.'Underscoring the Middle East's strong position in global tourism, inbound travel from outside the region is set to grow by 13% annually up to 2030 and outbound business travel forecast to surge at 9% per source markets make up 50% of all leisure travel to the Middle East, with India and the United Kingdom the top two inbound international leisure source markets. China is also a critical market, ranking third by value with leisure spend expected to increase by 130% by 2030. Furthermore, tourism nights by visitors from Asia Pacific and Africa, are expected to increase by over 100% between now and outbound travel, Saudi Arabia and Egypt dominate regional flows, while Thailand and the United Kingdom lead as preferred long-haul four largest airlines in the region – Emirates, Etihad Airways, Qatar Airways and Saudia – have placed nearly 780 aircraft orders with Boeing and Airbus, representing major expansions to their existing fleets. This significant investment underscores the region's strategic focus on becoming a global aviation hub and meeting rising passenger demand over the coming Middle East's rise as a global hub for business events is another key highlight of the report, which states that spending on Middle East business travel will grow 1.5 times faster than the global average through to 2030. The region's strategic location at the centre of Asia, Africa, and Europe supports business and leisure travel, with the latter on a particularly strong trajectory for sector plays a vital role in developing the region's reputation for hosting major events. It is expected to experience the second-fastest rate of business travel growth among all global regions, underscoring the increased potential for combining business and leisure travel, or 'bleisure'.Curtis commented: 'At ATM 2025, we recognised the industry's hunger for innovation in travel technology as well as the rising demand for business travel across the region. In response, we launched two dynamic new zones, IBTM@ATM and the Innovation Zone, designed to empower our growing audience to shape the future of travel with the speed and scale our exciting industry demands.'The region is also witnessing unprecedented growth in luxury and lifestyle tourism, attracting a new generation of high-net-worth travellers, drawn to exceptional Middle East hospitality, curated experiences and premium cultural events. According to the report global spending on luxury leisure hospitality is expected to continue growing briskly reaching over US$390 billion by 2028.'Travellers drawn to the Middle East tend to spend more on travel overall, nearly 60% habitually spending on luxury experiences while travelling compared to under 40% among travellers who favour other destinations,' added the more than 170 luxury hotel properties in the Middle East, nearly 100 are situated Abu Dhabi and Dubai, with 22 currently in development. With several luxury properties in the pipeline among Saudi Arabia's Giga projects, the region will continue to serve as a preferred destination for luxury and leisure in the footsteps of the Qatar 2022 World Cup and Dubai Expo 2020, the Middle East region has a proven track record for successfully hosting high-profile entertainment and sports events. According to the ATM Travel Trends report, the strong appetite for sports tourism in the region will lead to a potential growth rate of 63% in the coming years, with the 2034 FIFA World Cup in Saudi Arabia set to continue this to the report, golf, motorsports, football, cycling, and esports are all benefiting from heightened visibility and investment in the region. This surge in sporting and entertainment events is significantly boosting the travel industry, driving increased demand for hotel stays, flights, and related services, creating a ripple effect that supports broader tourism growth. ATM is the leading international travel and tourism event held annually in Dubai. It plays a vital role in shaping the future of global travel. Held at the Dubai World Trade Centre, the 2025 edition welcomed over 55,000 industry professionals from 166 countries, achieving year-on-year growth of 16%. The next edition will take place from 4-7 May 2026.
Hospitality Net
3 days ago
- Business
- Hospitality Net
Modena by Fraser Wujiaochang Opens in Shanghai
Modena by Fraser Wujiaochang Shanghai offers a well-balanced lifestyle for business travellers and academics, blending inspiration, connectivity, and community in one of the city's most bustling neighbourhoods. Located in the heart of Yangpu District, in close proximity to the Wujiaochang commercial hub, Modena by Fraser Wujiaochang Shanghai is situated close to global tech companies, premium shopping centres, and top educational institutions, Fudan University and Tongji University. The property soft opened on 20 May 2025 and offers 307 fully furnished studios, one- and two-bedroom apartments with sizes ranging from 23 to 66 sqm. Designed to enhance productivity and relaxation, the property features a range of thoughtfully curated facilities - from a tranquil landscaped garden at the entrance and a serene relaxation room to a yoga studio and gym equipped with state-of-the-art smart mirrors. Guests can host business and social events in versatile meeting spaces and the stylish Common Room with amphitheatre seating. For gourmet meals, the property's restaurant serves up a delectable mix of Cantonese and local Shanghai cuisine promising a rich culinary experience. Within easy access to multiple bus routes and Metro Lines 10 and 18, the residence fuses the energy of a creative academic community with exceptional urban convenience. Hotel website
Hospitality Net
28-05-2025
- Business
- Hospitality Net
IHG Hotels & Resorts and Singapore Airlines Launch Partnership to Support SMEs with Business Travel Across Asia-Pacific
Singapore – IHG Hotels & Resorts (IHG) and Singapore Airlines (SIA) announced today a partnership to enhance business travel for small and medium-sized enterprises (SMEs) as they expand, innovate and grow. The partnership brings together IHG's Business Edge and SIA's HighFlyer business travel programmes which are both designed to suit the travel needs of SMEs, which make up 90 per cent of businesses worldwide. From 1 May 2025, eligible SIA HighFlyer members who register for IHG Business Edge will receive a complimentary Gold Elite upgrade, within the IHG One Rewards programme, after the first qualifying stay. This upgrade opens access to a suite of travel benefits including guaranteed discounts, late check-out, flexible cancellation, and exclusive partner offers across IHG's global portfolio. Working with globally renowned partners such as Singapore Airlines is an important part of continuously developing our offer and providing more value across a range of travel segments. These strategic partnerships enable us to reach a wider group of travellers, create differentiated experiences and ensure IHG and our brands stand out as the preferred choice. We are delighted to be working alongside Singapore Airlines to support the growing number of SMEs across the region to achieve their business goals and ambitions. Vivek Bhalla, Managing Director, South East Asia & Korea, IHG Hotels & Resorts IHG Business Edge was launched in 2018 and was created to provide SMEs with a tailored hotel booking solution which includes a one-stop-shop portal, flexible bookings, guaranteed discounts and loyalty upgrades. SIA's HighFlyer programme is a corporate travel rewards scheme that offers businesses preferential airfares and allows them to earn HighFlyer points when employees travel for business. These points can be used to offset future travel costs or redeemed for rewards. As businesses progress through the HighFlyer tiers, the rewards become more valuable — from bonus points and milestone benefits to premium travel services such as priority waitlists, standby, and upgrades — all designed to enhance the corporate travel experience and deliver greater value with every flight. This partnership announcement follows the successful 12-month partnership between IHG and Virgin Australia, demonstrating IHG's commitment to expanding its IHG Business Edge programme and offering best-in-class travel solutions to SMEs. About IHG® IHG Hotels & Resorts [LON:IHG, NYSE:IHG (ADRs)] is a global hospitality company, with a purpose to provide True Hospitality for Good. With a family of 17 hotel brands and IHG Rewards, one of the world's largest hotel loyalty programmes, IHG has over 6,000 open hotels in more than 100 countries, and a further 1,800 in the development pipeline. InterContinental Hotels Group PLC is the Group's holding company and is incorporated and registered in England and Wales. Approximately 350,000 people work across IHG's hotels and corporate offices globally. Visit us online for more about our hotels and reservations and IHG Rewards. For our latest news, visit our Newsroom and follow us on LinkedIn, Facebook and Twitter. Christopher Dancer Manager, Corporate Affairs - South East Asia & Korea IHG
