Travel tech budgets on the rise
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Technology budgets are on the rise for 58% of buyers in the travel industry, according to a new survey by Travel Technology Europe. 
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More than half (58%) of tech buyers in the travel industry will have bigger budgets in 2017. This reflects well from the previous year as 57% said their budget was greater in 2016 compared to 2015 and only 10% had a smaller budget.
| Change in 2017 budget | Percent of people |
| Greater | 58% |
| The Same | 31% |
| Smaller | 12% |
Despite uncertainty over Brexit, 88% said it won’t affect their budget (43%) they weren’t sure (37%) or it may even increase their budget (8%). Only 13% said Brexit will damage their budget.
| Brexit effect | Percent |
| None | 43% |
| I don’t know | 37% |
| It will damage my budget | 13% |
| It will increase my budget | 8% |
When it comes to investing in new technologies, 68% invest at least once a year.
| Frequency of investment | Percent |
| Once a quarter (or more frequently) | 29% |
| Every 3 – 6 months | 10% |
| Every 6 – 12 months | 29% |
| Every 1-2 years | 28% |
David Chapple, event director for Travel Technology Europe, commented: “Despite there being huge social, economic and political changes on the horizon, Travel Technology Europe’s research shows some optimistic predictions for 2017. Many technology budgets keep increasing and many keep investing in new technologies every quarter. 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.”
| Rating | Industry is most excited about | Most predicted 2017 challenges |
| 1 | Mobile | Mobile |
| 2 | VR | Competition |
| 3 | AI / Chatbots | Fraud |
| 4 | Payments (blockchain) | Social |
| 5 | Social media | VR |
| 6 | 3D | Europe |
At Travel Technology Europe, up to 6,000 travel and technology leaders have a chance to gain insight from experts and peers of the industry, gaining valuable knowledge and contacts to keep up with the pace of the rapidly changing industry.
150 travel buyers took part in the 14th Travel Technology Europe annual survey in December 2016. 57% of respondents worked in the UK, 25% in continental Europe.
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