Is there still room for innovation by traditional travel agencies?
Amex GBT made a net loss of $229 million in 2022.
Current domestic travel booking levels sit at around two-thirds of 2019 levels.
Travel intention to Europe for the first four months of the year is significantly stronger than a year ago in China (+21 points) .
The online travel company indicated that factors such as flight capacity are posing a big challenge to the outbound travel recovery, but this is expected to be resolved in the coming months.
Outbound air-ticket bookings and hotel bookings increased by over 200% and 140% year over year in the fourth quarter.
RevPAR in Asia Pacific was down by 18% from 2019 due to China's delayed reopening.
Planners continue to be tasked to do more with less.
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