Travel industry leader Glenn Fogel, CEO of Booking.com, ponder on the rising appetite for travel amidst the hurdles posed by over tourism and sustainability, as reported by Euronews.
ADVERTISEMENTThe travel sector plays a significant role in the EU’s economy, with tourism accounting for 10% of the EU’s GDP and projected to bring in $220.1 billion in revenue for the EU-27 market by 2025, according to the European Parliament and Statista. The rebound in travel post-pandemic has contributed to the sector’s growth.
Glenn Fogel, CEO of Booking.com, says there is an overwhelming want to travel, evidenced by the surge in tourism as countries reopened. He discusses the future of the travel industry, the challenges of over tourism, and the push towards sustainable travel practices with Angela Barnes on Euronews.
Sustainability is crucial for the future of travel, states Fogel, however, the regulatory environment in Europe, with laws like the Digital Markets Act, creates obstacles for companies like Booking.com to remain profitable compared to global competitors outside the EU.
Fogel also shares his thoughts on the impact of artificial intelligence on travel, such as Booking.com’s AI trip planner, and the potential of agentic AI to streamline travel coordination. The evolution of AI may, however, lead to job losses in customer service.
The CEO also imagines a future where hypersonic travel could revolutionize the speed of traveling, but acknowledges the sustainability concerns. Fogel concludes that Booking.com will not be offering private jets, which he deems unsustainable and a niche offering.
Watch the animated interview with Booking.com CEO Glenn Fogel on Euronews Business’ The Big Question series for a deeper look into the future of travel.
Journalist • Indrabati Lahiri
Video editor • Nicolas Coquet
