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Risk, resilience & reinvention: The entrepreneur’s guide to thriving in the travel industry – ET TravelWorld

6 Min Read

Liberatha Kallat, CMD, DreamFolks

The travel industry has always been shaped by visionaries who embrace change, innovate, and redefine possibilities. It is a sector that thrives on resilience—one where entrepreneurs must anticipate trends, adapt swiftly, and reinvent experiences to meet evolving traveller expectations. As we celebrate women in leadership, it’s inspiring to see more female entrepreneurs stepping into this dynamic space, breaking barriers, and creating impact. The journey of entrepreneurship in travel is much like the journeys we curate—one of transformation, discovery, and persistence.With Skift Research’s 2025 Travel Outlook predicting a 24 per cent surge in planned trips compared to 2024, the demand for elevated, seamless travel experiences have never been higher. travellers today no longer just seek a destination; they seek purpose, personalisation, and effortless convenience. This creates a fertile ground for businesses to innovate—those who can integrate technology with authenticity, sustainability with ease, and comfort with exclusivity will lead the charge in shaping the future of travel.

Customer-centric innovation: Elevating travel beyond expectations
The era of standardised travel is long gone. Personalised experiences are now the defining factor, with demand for tailored journeys projected to grow at a CAGR of 17.8 per cent from 2022 to 2032, reaching USD 620.71 million by 2032. Luxury, wellness, and experiential travel are gaining traction, and entrepreneurs are responding by creating ecosystems that cater to these evolving needs.

Travel privileges have evolved beyond exclusive lounge access via bank-issued cards, with today’s travellers seeking richer, more personalised experiences. The industry has expanded to offer curated experiences that elevate the journey itself—be it VIP airport services, bespoke wellness retreats, golf privileges, or premium dining and entertainment options. These shifts reflect an entrepreneurial opportunity to build ecosystems that offer seamless, value-driven experiences, ensuring travellers feel cared for at every step.

A robust digital core is imperative to building resilient business operations, boosting employee productivity, tapping new revenue streams, and most importantly, creating memorable experiences for travellers. Gupta feels that travel businesses must design and develop their digital core and technology strategy in line with their unique requirements. Interoperable platforms and modular systems, cloud-native operating models, a strong data foundation, artificial intelligence capabilities, and security embedded in everything are all essential elements of this strategy.

The digital leap: Reinventing travel through technology
Technology, while being a powerful enabler, has also become the backbone of modern travel. Digital-first businesses are redefining service delivery, enhancing convenience, and setting new benchmarks in customer engagement. With 91 per cent of travel businesses planning to increase their tech investments, the industry is undergoing its most profound transformation since the rise of online bookings.Artificial intelligence is at the forefront of this shift. Seventy-three percent of travel leaders are integrating generative AI to improve efficiency, optimise operations, and enhance personalisation. The move towards mobile-based service access—eliminating the need for physical cards, enabling real-time verifications, and offering frictionless check-ins—has made travel more seamless than ever. AI-driven concierge services and intelligent loyalty programs are further deepening customer engagement, offering experiences that adapt to travellers’ unique preferences.

The future of travel entrepreneurship: A legacy of reinvention
The most successful entrepreneurs in travel are those who understand that reinvention is not a choice—it’s a necessity. What once revolved around physical tickets and on-the-spot verifications is now a world of hyper-personalised, tech-driven interactions. The next frontier will be shaped by real-time service integration, AI-assisted concierge solutions, and a deeper blend of sustainability and luxury.

As women continue to carve their space in this industry, their leadership and resilience bring a fresh perspective—one that balances innovation with empathy, business growth with consumer trust. The future of travel belongs to those who embrace change, anticipate needs, and create seamless, enriching experiences. Those who do will not only thrive but will redefine the way the world moves.

The author is the Founder and CMD of DreamFolks.

DISCLAIMER:The views expressed are solely of the author and ETTravelWorld.com does not necessarily subscribe to it. ETTravelWorld.com shall not be responsible for any damage caused to any person/organisation directly or indirectly.

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  • Updated On Mar 8, 2025 at 07:31 PM IST
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  • Published On Mar 8, 2025 at 07:31 PM IST
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  • 3 min read
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