While the pandemic has decimated the travel industry, we fortunately continue to see indications of a strong rebound in travel in many, though not all, areas of the globe. However, international travel, especially long haul, will remain depressed for some time. The lack of clear and consistent regulations related to travel have been, and will remain, some of the biggest challenges our industry will face. The pandemic will soon become endemic and pent-up demand that is limited to domestic and regional travel may result in crowded accommodations and higher prices.
If governments and businesses could work together and unlock international travel quicker while maintaining health and safety, both the travel industry and the world’s economy would greatly benefit.
As we look back on a vastly disruptive 2020-21 for the travel industry, which innovations have stood out to you as going the extra mile to provide support, reassurance and clarity to travelers?
There are several. The first example worth noting is the EU Digital Certificate - which identifies travelers as safe through either proof of vaccination or a recent negative COVID test. This was a significant step in the right direction to support the travel industry in Europe, and it is unfortunate that not all governments adopted a similar program as it would have been beneficial if everyone was on the same system.
In terms of our own businesses, last year, Booking.com made it simple for properties to display precautionary COVID-19 measures to travelers seeking this enhanced transparency, while providing online resources to help partners navigate health and safety regulations and traveler preferences. Over 17 million listings on Booking.com’s platform have now implemented health and safety measures.
As travel began to pick up again and countries were slowly reopening their borders, KAYAK developed a heat map that identified the different country and state-level restrictions that were in place for travelers to use as a guide when planning their trips.
These are just a few examples of some great efforts to support travelers and partners alike over the past 18 months.
To what extent was Booking able to collaborate, if at all, with its peers and competitors to provide innovative solutions to critical problems?
For a highly competitive industry that was arguably the hardest hit by the pandemic, there was a unified desire to support customers, partners and employees any way we could. The key, however, was working in unison with governments, stakeholders and intergovernmental organizations to revive travel for the long term. One example of this collaboration was a signed letter of support for the implementation of the EU Digital Certificate by Booking, along with several other travel sites and companies.
While the pandemic disrupted the travel industry significantly - and immediate unified support is still needed - it’s also important for us to remain focused on the long-term health of not just the travel industry, but the world. The pandemic spotlighted the importance of preserving our planet for future generations to also be able to experience it. Last year, we were the first online travel company, among a now broader list of travel companies, to join the UN’s global tourism plastics initiative, which promotes long-term solutions to reduce pollution and waste from disposable plastics, which will ultimately help support a responsible recovery from the impact of the pandemic.
In line with this long-term outlook, last December we pledged our support for the Tech for Good Call initiated by President Macron of France, alongside other tech firms in the EU. Through this pledge, we committed to developing technology in a responsible way, in alignment with the principles outlined by the Tech for Good initiative. Ultimately, we recognize that for technology to be a continued source of human progress, all stakeholders must cooperate to ensure inclusive access and prevent abuse.
Which technological innovation do you believe will have the biggest impact on the day-to-day operations of the travel sector in the coming decade? To what extent will Booking aid in the provision/development/implementation of this innovation?
The pandemic shined a spotlight on the importance of technology, highlighting not just our reliance on it, but also our expectations of it. This could not be more true as it relates to travel. At Booking, we continue to build towards our long-term vision of the Connected Trip, which is essentially a multiproduct offering, including accommodations, flight, ground transportation, attractions, and dining, all connected by a seamless payment network to further remove the friction out of the travel experience. Looking ahead, payment technology specifically will play an increasingly critical role in transforming the travel experience.
Travel is different from nearly every other corner of e-commerce, strictly because of the often massive time gap between financial commitment from a customer booking and the time they actually take their trip. Many people book and pay for their travel up to a year in advance, which introduces a whole host of different variables and financial risks to consider. Markets have vastly different payment practices and methods, and bridging the gap between these helps ease friction and enhances the value we bring as a global intermediary.
At Booking, the goal is to make it easy for anyone, anywhere in the world to pay for their travel or do business on our platform when and how they want. A few months ago, we announced the creation of a new internal FinTech business unit to facilitate seamless access to the company’s global travel marketplace for both customers and partners. As a truly global e-commerce company with business operations in nearly every country and city on the planet, the vision behind creating this new business unit was to make buying and selling travel-related products and services through millions of cross-border, cross-currency transactions taking place daily, truly easier for everyone.
Can you comment on the importance of “proof of vaccines” to the travel sector?
Proof of vaccination is important to the travel sector because it fosters safe travel, allowing the industry to recover while we all collectively work together to end this pandemic - and the key to ending this pandemic is through widespread distribution of vaccines. That is the only way we will move forward, and in the process, save countless lives. The recent decision by the U.S. government to allow non-essential travel to the US for only those who are vaccinated will likely encourage some people to get vaccinated in order to visit.
There are many countries that require vaccinations to prevent the spread of disease, so this is not a novel tactic to ensure travelers are deemed safe and people are protected. For international travel to rebound, proof of vaccinations will continue to be critical for border restrictions to loosen, allowing more people to experience the world once again.
Want to know more?
Glenn Fogel will be speaking further at Reuters MOMENTUM (Oct 27-29) on the intersection of technology and travel in a post-pandemic world. The impact of the pandemic on the travel industry has been unprecedented. While travel has begun to rebound in certain parts of the world, the uncertainty of the virus continues to impact travel recovery - affecting millions of people around the world. Eventually, the pandemic will end, but COVID will likely remain a part of our reality indefinitely. In this conversation, Booking Holdings' CEO Glenn Fogel will discuss the role technology has played in the travel recovery, and the role it will continue to play as COVID becomes more and more a part of our daily realities in the future.
For more information, and to secure a free ticket to attend visit our website here
About Reuters MOMENTUM
Running October 27-29, Reuters MOMENTUM brings together more than 25,000 executive attendees to hear from the world's most influential technologists, policymakers, NGOs and business leaders. Content is curated exclusively for Reuters MOMENTUM, with the event producer pushing every speaker to reveal real insights and invaluable business intelligence attendees. Ultimately, the producers aim to ensure that attendees gain the tools, tips, strategies, tactics and best practices they need to impact lives through innovation and future-proof their businesses.
Furthermore, access to the event and content platform was launched early, allowing attendees to consume the actionable takeaways they need to succeed right now.
Developed in collaboration with Reuters award-winning newsroom, Reuters MOMENTUM is broadcast live to share strategies towards a better future as society gets ready for the 'next normal' after a period of unrivalled disruption. All sessions are recorded and made available on-demand to attendees shortly after broadcast.
Confirmed attendees include global chief executives, chief information officers, chief technology officers, chief innovation officers, chief people officers and their teams from some of the world's largest and most influential companies.
The virtual summit has four central, interlinked content pillars: Society, Economy, Sustainability, Trust & Ethics. For more information on the event, visit https://reutersevents.com/events/momentum/.
This article has been developed ahead of Transform Food & Agriculture USA 2025 (October 14-15 Minneapolis)
1. What are your top three priorities for 2025, and why do they matter to both your business and society?
Our sustainability priorities reflect our deep commitment to responsible growth and helping to feed a growing world while supporting rural livelihoods and safeguarding the planet. Maintaining our focus supports these important goals – and creates shared value for our business, customers and society.
1. Achieving deforestation-free supply chains: We’re helping protect vital ecosystems and biodiversity by establishing traceable supply chains, especially in high-risk regions.
2. Reducing greenhouse gas emissions: We’re making our business more resilient and future-ready by reducing emissions across our operations and supply chain.
3. Expanding regenerative agriculture programs: We are enabling farmers to boost productivity and improve soil health while strengthening rural communities and food security.
2. What do you see as the biggest challenge, and opportunity, facing the global food and agriculture system in 2025?
Balancing growing food demand with environmental protection and resource constraints presents a challenge. We’re advancing low-carbon solutions for food and feed value chains, as well as renewable feedstocks for fuel to build more resilient, transparent supply chains that benefit people and the planet. By embracing digital traceability, we achieved 100% indirect soy traceability in certain priority regions of the Brazilian Cerrado. Agriculture plays a vital role in addressing global challenges in climate and biodiversity – not to mention nutrition – and we are committed to working across the value chain to turn potential into real, scalable positive impact.
3. Where are you focusing your investments, and what problems are you aiming to solve? Where do you need more support from the broader food ecosystem?
We are prioritizing decarbonization, supply chain traceability, regenerative farming and expanding renewable feedstocks for food and low-carbon fuels. For example, we’ve invested more than $40 million in greenhouse gas reduction projects and leveraged digital tools and satellite monitoring to improve traceability in priority sourcing regions, sharing technology with our indirect suppliers, for instance. We’re also piloting innovative programs beyond existing ones, enhancing farmer training, financial inclusion and circularity.
To create lasting impact, we need collaboration from customers, peers and policymakers. This industrywide partnership is vital to accelerate progress on climate, food security and rural prosperity. No solution is scalable if it relies on individual companies.
4. How can we ensure that innovation and investment in the industry benefit not just large-scale producers, but also smallholders?
The industry must prioritize inclusive programs and collaborative partnerships. We’re investing in programs to improve farmer livelihoods, protect biodiversity and promote responsible land use practices:
• Palm: In Indonesia, our Train-the-Trainers Smallholders Hub partnership delivers valuable capacity-building lessons for smallholders on critical topics.
• Olive Oil: We work to protect this vital crop for future generations by advancing biodiversity preservation, sustainable agricultural practices and the social and economic well-being of Turkish farmers and their communities.
• Shea: Bunge has helped to develop a total of eight women-led shea cooperatives in Ghana since 2021 through the “Where Life Grows” program – impacting 150,000 shea collectors and planting 129,000 shea trees in 2024.
Further, the Bunge Foundation’s Semêa project promotes regenerative agriculture in Brazil. Since 2022, the foundation has helped train smallholder farmers in assisted pollination and provided technical support for land management, resulting in reforestation of 155 hectares and a 13% increase in soybean productivity. Scaling impact requires the broader food ecosystem to share best practices, ensuring smallholders adopt new technologies, meet rising standards and fully participate in global value chains.
Want to know more?
Michel Santos is speaking at Reuters Events: Transform Food & Agriculture USA 2025 in Minneapolis on October 14-15.
To build more resilient food systems, it’s never been more important for food multinationals to achieve greater alignment on shared goals, impact frameworks, and priorities.
For this reason, Reuters Events: Transform Food & Agriculture USA (October 14-15, Minneapolis) will challenge the world’s most influential agri-food decision makers to forge impactful partnerships and deliver transformation at scale.
Over two days, our forum of panels, interviews, and interactive discussions, will provide executives with the trusted platform needed to break down barriers, think differently, and develop an implementable strategy.
Now is the time to reshape food and agriculture for a more resilient future. Will you join us?
Register with the code TRANSFORMVOICES to save $200 on any pass now.
