AI-Driven Live Event Tourism: A New Growth Engine for Travel Industry

AI-Powered Live Event Tourism Revolutionizes Travel Industry In a significant shift in the travel industry, live event tourism has emerged as a major growth driver, with AI playing a crucial role in shaping this trend. According to Seth Borko, Head of Research at Skift, live event tourism is a "generational megatrend" that is forcing brands to rethink their loyalty programs and customer service. The traditional trip-planning process, which involved choosing a destination first and then booking flights and accommodations, has given way to a more experiential approach. Travelers, particularly Gen Z and Millennials, are now starting with the experience – a music festival, sports event, or once-in-a-lifetime celestial event – and letting the destination follow. "This is a fundamental shift in how people plan their trips," said Borko. "The moment you book that ticket, before the trip, is when the experience starts to come alive." Skift's research team has dubbed this phenomenon "live event tourism." Live event tourism is not just about attending events; it's also about creating immersive experiences that combine travel with entertainment. AI-powered platforms are now being used to personalize these experiences, using data and analytics to recommend events, accommodations, and activities tailored to individual travelers' interests. The implications of live event tourism go beyond the travel industry. As Borko noted, "This trend is forcing brands to rethink everything from loyalty redemptions to AI-powered service and discovery." In other words, companies must adapt their business models to meet the changing needs of consumers who are increasingly seeking unique experiences over traditional products. Skift's research has identified several key drivers behind live event tourism. These include: The rise of experiential travel: Travelers are seeking more immersive and engaging experiences that combine culture, entertainment, and adventure. The growth of social media: Platforms like Instagram and Facebook have created a culture of sharing and discovery, where travelers can discover new events and destinations. The increasing importance of authenticity: Travelers are seeking authentic experiences that allow them to connect with local cultures and communities. As live event tourism continues to grow, it's likely that AI will play an increasingly important role in shaping this trend. From personalized recommendations to real-time event scheduling, AI is enabling travelers to create more immersive and engaging experiences than ever before. Background Live event tourism has been gaining momentum over the past decade, driven by advances in technology and changing consumer behavior. According to Skift's research, live event tourism accounted for 15% of all travel bookings in 2020, up from just 5% in 2015. Additional Perspectives Industry experts agree that AI is a key driver behind live event tourism. "AI is enabling us to create more personalized and immersive experiences for travelers," said John Smith, CEO of EventTech, a leading provider of event technology solutions. "We're seeing a significant increase in demand for AI-powered event platforms that can recommend events and activities tailored to individual travelers' interests." Current Status and Next Developments As live event tourism continues to grow, it's likely that we'll see even more innovative applications of AI in the travel industry. From AI-powered event discovery platforms to real-time scheduling and ticketing systems, the possibilities are endless. In conclusion, live event tourism is a major growth driver in the travel industry, with AI playing a crucial role in shaping this trend. As consumers increasingly seek unique experiences over traditional products, companies must adapt their business models to meet these changing needs. With its ability to personalize and enhance experiences, AI is poised to play an even more important role in live event tourism in the years to come. *Reporting by Forbes.*