From sanitisers in hotels to transport crew with masks, movement restrictions, to tracing apps, the coronavirus pandemic has changed the tourism world and travel.

This piece will examine how travel bookings have evolved over the years, especially between the early 2000s and late 2019. We will also consider the future of travel bookings after the pandemic. Grab a cup of smoothie and read along.

Evolution of travel booking

The early 2000s marked the beginning of technological advancement, particularly the internet. The popularity of the internet saw many internet-based companies spring up as well as travel companies. However, many travellers made their bookings manually through travelling agents during early 2000. These agents would book your hotels, cruises, flights, honeymoon locations, etc.

They are there to plan your arrangement and be the middlemen between you and the service providers. Travel agents are your go-to guys when things go wrong with travelling. They give you better deals that you could not have known because they had access to restricted resources.

It took a while before people started using the internet to book hotels and flights. AirAsia launched the online booking trend in Malaysia in 2003.

It offered free seats to make more travellers learn how to book and pay online. Since then, the travelling industry in the region has hit a new horizon as more and more people started booking online.

Also Read: Guiddoo allows Indians to book in-destination activities while travelling abroad; raises US$300K pre-Series A

The rise of internet bookings before pandemic (2010-2019)

According to Condor Ferries statistics, the value of online bookings increased significantly by over 70 per cent between 2010 and 2019, and this shows that the internet has become very vital to the travel industry.

The internet has also become the hub for all information. Thus, it is not far-fetched that websites like TripAdvisor, Agoda, Booking.com, blogs, and other internet sources are now the first-place travellers explore whenever they want more information about a country, city, hotel, or a point of interest they wish to visit. People now read the reviews of other travellers and judge from their views.

It’s no longer news that the internet has taken over. As much as 60 per cent of bookings are now taking place online and these bookings occur majorly through online travel agencies (OTAs) followed by hotel or airline websites.

With the growth of social media and more affordable advertising channels, this takes us to another phase in the travel sector which is direct booking. OTAs growing to become more important in recent years by building the customer base from their website with various options.

Airlines and hotels want direct bookings too, due to the customer service and distribution cost factors. It has brought a tricky situation between the OTAs and service providers to compete for direct bookings from the same pool of customers.

Also Read: How Singapore is working with startups to prepare local travel and tourism industry for its comeback

With the growth of mobile technology, OTAs, airlines, and hotel groups are also investing in technology to serve their customers more directly.

The last two decades have brought numerous changes to the travel industry. Travellers can now book hotels, flights, read reviews, and gather information about where they are visiting from the comfort of their homes or anywhere they are.

Travel after the pandemic

The travel industry will never remain the same again after the pandemic, at least for the first couple of years. Henceforth, here are some of the travelling trends you should expect;

Domestic travels

There will be a surge in domestic travel as the international borders will not be the first to open for most of the countries. And people will prefer domestic destinations that they are familiar with immigration rules and government restrictions, rather than the hassle of dealing with the quarantine rules and vaccine passports.

People will visit places closer to home, eat out at local eateries, or travel for a domestic weekend getaway before the usual demand for international trips returns.

Forward bookings remain low

Travellers used to make way forward bookings as further as one year to enjoy free flights or cheap stays. Many countries have no choice but to change movement restrictions at the very last minute to deal with the different COVID-19 cases movement in different places.

With the uncertainties happening in foreign countries and even within own country, for the near-term travellers will be sceptical in making forward bookings to avoid the hassle of making changes in the later stage.

Booking and travelling will require more than your passport

The pandemic has heightened the observation level of many countries. Travellers will need to do more research about the travel restrictions and requirements before making their plans. There are countries that deny travellers who are coming from a high-risk nation entry into their country.

Also Read: Building a startup is just like travelling, except it lasts longer

However, there are some countries that will only request a vaccination or COVID-19 negative certificate before travel. Monitoring the changes of the information is a must-do to ensure the travel is well-prepared.

Travel agents will become more important

Travellers may tilt to booking travels through established travel agents being it online or offline, noting their industry connections and invaluable knowledge, especially in handling the pandemic and SOS situation. The travel agents’ service will come in handy when the traveller is stranded in a foreign country due to unforeseen situations.

Boom in the short-term rental industry

According to a recent survey, there is a proposed boom in the short-term rental industry as many travellers prefer to stay longer in one destination rather than moving around.

Hence traditional hotel booking will become less popular for these travellers compare to short term rental properties, which means that hoteliers should be ready to meet the competition from these properties in terms of pricing and experience.

You will tick all the boxes

Travel bookings usually come with many add-ons. It is a fact that many travellers skip the parts that deal with car rentals, extra luggage, speedy boarding, seat selection, and even some of the important notices.

But with the potential mess of handling travels due to the restrictions, many travellers are starting to have a habit of thoroughly reading the booking instructions and plan the whole trip in more advance to ensure their safety and a pleasant journey.

Traveling will become joyful again

Many people made the best out of staying at home during the pandemic while missing their favourite trips browsing through Facebook and Instagram. That period showed them how important travelling is, particularly on health grounds—travelling boosts personal growth and mental health. It also improves focus, attention, energy, and empathy.

As soon as travel is possible, many people will definitely utilise their accumulated annual leave and airline credits to make their first travel plan of the century.

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Most would agree that small and medium-sized businesses (SMBs) form the economic backbone of Southeast Asia. They employ the bulk of each country’s workforce — 85% in Thailand, for example, and a staggering 97% in Indonesia and Vietnam — and, correspondingly, contribute significantly to gross domestic product (GDP).

However, with the pandemic wreaking havoc on these businesses, it is imperative to come up with initiatives that help sustain them. With lower earnings and smaller economies of scale, SMBs are less able to bear the brunt of lacklustre economic prospects. Before COVID-19, almost 73% of the region’s SMBs expected revenues to either increase or remain constant. During COVID-19, 84% anticipated some form of a decrease in revenue.

These economic consequences are intensified by the region’s overall reliance on tourism. However, with global travel restrictions unlikely to be lifted any time soon, SMBs that rely on tourist traffic continue to suffer.

Thailand, for instance, looked to tourism for about 20% of the country’s GDP before the pandemic. Many of its 3.1 million SMBs are located in the tourism industry and continue to struggle to stay afloat. Despite debt-relief measures in the form of low-interest loans, experts predict that not all SMBs will be approved for these measures. Even if they do successfully obtain a loan, SMBs may not survive or grow amidst the bleak economic outlook.

Hence, to expand their businesses in the post-pandemic world, SMBs need to adopt creative and innovative marketing strategies, and platforms like TikTok offer them an easy-to-use and powerful avenue.

Leveraging TikTok’s wide reach and cultural impact

The video-sharing app has amassed millions of users worldwide and is now a staple of many people’s media consumption. It enables users to connect with diverse communities and express their creativity using a wide array of in-app creative tools.

With lockdowns forcing people across the world to stay at home, people have turned to TikTok for content. It’s even spurred intergenerational bonding, with multiple accounts of parents, grandparents, and children creating and sharing TikTok videos together.

The app boasts a wide diversity of users from different backgrounds. Gen Z, millennials, baby boomers, and even senior citizens have found their creative outlet through TikTok. 82-year-old Charles Mallet, for example, has almost 5 million followers.

Also read: KoinWorks super financial app ecosystem sees growth in Q2 2021 as it helps boost SMEs amidst the pandemic

Furthermore, users come from a variety of different countries and cultures. You can find everyone from the average Joe to celebrities like Gordon Ramsey and BTS on the platform. It’s no overstatement to say that more and more, anyone is finding their way to TikTok,  regardless of background.

This means that the app essentially presents a huge prospective customer base for any company.

With the amount of attention that TikTok puts on digital content, there is massive potential for TikTok to be used as an avenue for advertising. SMBs can leverage TikTok’s vast reach to grow their business, tapping on the diverse customer base and laser-sharp user algorithm to execute targeted marketing campaigns effectively.

Tailored solutions to bolster and uplift Southeast Asia’s SMBs

TikTok has been firmly committed to SMBs since the launch of its self-serve ad platform, TikTok Ads Manager, in June 2020. One tailored SMB solution introduced by TikTok was Shop Local Saturday, which ran in June 2021, and allowed SMBs in Indonesia, Thailand, and Vietnam to elevate their presence on the platform. SMBs could boost their brand engagement and user discoverability through the initiative, driving results for every business and marketing need.

Throughout June, SMBs that participated in Shop Local Saturday were spotlighted extensively across the app. Over 170 SMBs featured received top perks, including a dedicated main page feature, in-app promotion, and access to creative workshops and creators. TikTok values the local businesses that empower Southeast Asia’s communities and wanted to highlight them as much as any large brand may be visible on TikTok.

TikTok’s support of SMBs, including during Shop Local Saturday, has produced promising results for these businesses.

For Thai game app developer GAMEINDY, they turned to TikTok to help drive their Call Me Master game exposure and reach new audiences. Within just a week of participating in TikTok’s Shop Local Saturday initiative, organic downloads for the game rose by 20%, and they were able to connect with previously untapped audiences from across the country.

Also read: Scaling your startup: A closer look at building your local entity and remote teams

“TikTok has been a great partner for us,” said Chanon Khamchay, GAMEINDY’s Senior Marketing Associate. “We had no other new campaigns or PR launches during that period, so we think that most of the boost was thanks to TikTok’s Shop Local Saturday.”

Vietnam’s polo shirt maker, Poloman, also experienced similar successes on TikTok. With an ambition to become the top-of-mind brand for Polo shirts in Vietnam, they set clear objectives of increasing their number of TikTok followers and doubling the traffic volume to their e-commerce sites. Using ad creatives that leveraged trendy upbeat music, TikTok creators, and exclusive promotions for TikTok users, Poloman also launched an engaging campaign to raise their brand awareness.

Their campaign was a hit, garnering over 12 million impressions and over 149 thousand clicks. But, most importantly, they exceeded their target revenue by 1.3 times, hitting an all-time revenue high of 3.2 billion VND (140,000 USD) during their Shop Local Saturday promotion.

TikTok supports SMBs year-round

Previous TikTok initiatives for SMBs span a holistic suite of tools, resources, and best practices that enable them to reach and connect with new audiences. For example, in February 2021, TikTok kickstarted Grow with TikTok: Starter Lab, a monthly programme where more than 6,600 SMBs received the opportunity to learn from established figures in the marketing industry and TikTok experts.

Having augmented its broad and diverse audience with these targeted solutions, TikTok is, without a doubt, incredibly relevant for SMBs. The tools offered by the platform helps SMBs grow their businesses.

TikTok offers full-funnel ad solutions to meet different business and marketing objectives. From raising brand awareness and consideration to conversions in driving online sales and app installs, TikTok has everything your business needs to supercharge its advertising efforts.

Also read: STPI’s Vision Programme: empowering Taiwan-based startups to tap into Southeast Asia and beyond

Advertising tools and solutions for campaigns of any budget and businesses of any size are also available. For example, the TikTok Ads Manager is an ad creation platform that allows SMBs to launch and monitor their advertising campaigns. SMBs can create new or repurpose existing creative assets, find their target audience, and set their campaign budgets through a simple and easy-to-use interface. They can also measure the effectiveness of their campaigns and obtain data and insights about their ads.

TikTok has driven results across the board. According to a study done by TikTok in Southeast Asia in the first quarter of 2021, 1 in 4 Thai SMBs and 1 in 3 Indonesian and Vietnamese SMBs that have used TikTok choose it as their most preferred ad platform, citing TikTok ads as the most effective for their business goals. TikTok is indeed the rising marketing channel for businesses both big and small.

For more information on TikTok For Business, go to https://www.tiktok.com/business/.

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This article is produced by the e27 team, sponsored by TikTok

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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NUS partners with Indonesian universities to scale entrepreneurship in the region

The story: The National University of Singapore (NUS) is collaborating with two of Indonesia’s top universities – Universitas Gadjah Mada (UGM), and Universitas Indonesia (UI) – to foster and cultivate innovation between the two countries.

More about the story: Under these agreements, NUS, through its entrepreneurial arm NUS Enterprise, will be
offering scholarships and support for Indonesian students from UGM and UI to attend its Master of Science in Venture Creation in Singapore, as well as to jointly establish a venture creation programme in Indonesia.

Following the signing, NUS, UGM, and UI will work together closely to plan the launch of their joint initiatives within the next 12 months. Indonesian students from these universities under the scholarship will attend NUS’ Master of Science in Venture Creation in Singapore starting from 2022.

OYO raises US$660M

The story: India’s OYO has raised a debt financing of US$660 million from undisclosed institutional investors.

What the funding will be used for: Retire its past debts, strengthen the balance sheet and boost the product technology, among other things.

About OYO: A global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology that increases earnings and eases operations; bringing easy-to-book, affordable, and trusted accommodation to guests.

More about the story: According to Oyo, the offer was oversubscribed by 1.7 times and it also received commitments of close to $1 billion from leading institutional investors.

Also Read: Ecosystem Roundup: AirAsia is set to fly higher, Bukalapak looks for the largest IPO in IDX history

SCB 10X to invest in DeFi dashboard Ape Board

The story: SCB 10X, the venture arm of Thailand’s oldest bank, has announced its latest investment in Ape Board, a cross-chain DeFi dashboard.

More about the story: “SCB 10X is excited to announce our investment in Ape Board, which now has more than 350,000 users within four months of inception. This investment will further our goal of integrating traditional finance and decentralized finance by championing projects that resolve complexity and fragmentation issues in DeFi to bring a truly user-friendly experience. Ape Board will enable users, both crypto natives, and newcomers, to track all their cross-chain assets and manage portfolios in one place with features like monitoring impermanent loss,” said Mukaya (Tai) Panich, Chief Venture and Investment Officer of SCB 10X

ApeBoard currently supports more than 79 protocols across five chains, including  Solana, Binance Smart Chain, Ethereum, Terra, and Polygon.

BHyve raises US$300K from JITO Angel Network, others

The story: BHyve, an India-based SaaS platform for employees, has raised US$300,000 in a funding round.

Investors: JITO Angel network, Letsventure, and other angel investors.

What the funding will be used for: Marketing, product enhancement, and growing its clientele.

About BHyve: A  SaaS platform that enables organisations to document employee’s implicit knowledge and launch peer learning networks at just a click.

BHyve currently serves leading corporations from BFSI, Healthcare, Pharma, and manufacturing sectors and soon aims to enter the North American market.

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Indonesia-based fintech platform Oy! has been reported to raise a US$45 million or IDR653 billion Series A funding round. Softbank Ventures Asia and MDI Ventures led the funding round with the participation of investors such as Pavilion Capital, AC Ventures, Alfamart, Central Capital Ventura, and Wavemaker Partners.

In addition to being recorded on the regulatory body, sources familiar with the matter have also confirmed the funding round to DailySocial. The accumulation of the funding rounds is said to bring the company’s valuation to beyond US$108 million. AC Ventures’s participation in the funding round also introduced Pandu Sjahrir into its board member.

Oy!’s seed funding round –closed in 2017-2020– included the participation of investors such as MDI Ventures, Wavemaker Partners, Pavilion Capital, and Central Capital Ventura.

Also Read: How tech can help smaller brands scale in SEA by helping them maintain customers’ loyalty

Oy! Indonesia provides different kinds of services for businesses and individual customers. In the B2C segment, they provide the Oy! Indonesia mobile app that helps customers with inter-bank transfer. The platform’s capabilities also included international remittance.

For business customers, the company provides API to ease transaction processes. Based on DailySocial‘s observation, looking at the direction of the platform’s feature development, Oy! Indonesia seems to be more serious in this segment. The open finance sector has such great potential that local ecosystem players have begun to include ease of transaction as an offering in their platform.

In the individual customers’ segment, Oy! is competing directly with Flip. We have conducted a comparison between the two platforms and concluded that there is enough space in the market for both services. According to data by Bank Indonesia, in 2019, the domestic transaction volume has crossed 218 million transactions, valued at IDR84 trillion (US$5 billion). The remittance business itself has recorded 37.7 million transactions valued at IDR90 trillion.

The service was also created to fix the issue of interbank transfer fees. The participation of Alfamart as a strategic partner is also an interesting move; it bears the potential of Oy! entering the O2O segment in promoting its services. This is in line with the fintech company’s vision to serve the underbanked community in the market.

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The article Oy! Kumpulkan Pendanaan 653 Miliar Rupiah, Jadi Centaur Selanjutnya was written by Randi Eka Yonida in Bahasa Indonesia for DailySocial. English translation by e27.

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Skills Union, a Singapore-headquartered edutech startup offering active learning courses in partnership with leading universities and employers, announced today the closing of a US$1.5 million investment.

The round was led by Online Education Services (OES), part of the Australia-based Seek group of companies.

Notable investors, including KDV, Hustle Fund, Singaporean business tycoon Koh Boon Hwee, Siu Rui Quek (co-founder and CEO of Carousell), Ishreth Hassen, Sumardy Ma, Simin Zhou, and Anvesh Ramineni, also joined the round.

According to a press statement, this is a major milestone for Skills Union on its mission to become a leading provider of university-accredited courses, which promise job-ready graduates to tech companies needing a digitally equipped workforce with trusted university credentials.

“Skills Union represents a partnership between learners, universities, and employers, delivering specialist online, part-time, vocational courses that accelerate careers and businesses,” said Colin Mansell, Skills Union CEO and co-founder. “This investment gives us the lift-off we want to further scale our programmes and impact the lives of many more students.”

Also Read: ‘Edutech will be a hot commodity going forward’: GREDU co-founder Rizky Anies

Skills Union offers accredited cohort-based, active learning courses in partnership with leading universities and employers. It offers courses that are in demand by high-growth companies, such as software development, user experience design and growth marketing, aimed at both the consumer and business audiences.

Since its establishment in Singapore in 2020, Skills Union has partnered with institutions including Nanyang Technological University and London’s Ravensbourne University. It has a growing network of university partners in the UK and US.

“We have been impressed with Skills Union’s business offering, approach to growth and global outlook. Their product has many impressive features, including a flexible, stackable set of courses with a clear path to accredited degrees,” said Denice Pitt, CEO of OES. “We are seeing a global shift in the way that universities and employers are working together to close the skills gap, and we are really excited to be able to play our part in the current revolution we are seeing in tech education.”

The global online education sector is projected to reach US$660 billion by 2027. The Asia-Pacific region accounts for one-third of the global market and is anticipated to experience the fastest growth over this period.

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Image Credit: Skills Union

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