Mastercard announced the establishment of the Center for Innovation in Tourism in Spain

Mastercard has announced the establishment of a new one Center for Tourism Innovation (Tourism Innovation Hub) in Spain, with the support of the Spanish government. The Madrid-based center, which will open in the second quarter of 2022, will develop solutions to support the sustainable and inclusive recovery of the global tourism sector through innovation, research and collaboration across the ecosystem.

The initiative was ratified by Reyes Maroto, Spanish Minister of Industry, Trade and Tourism, and Mark Barnett, President of Mastercard Europe, at the FITUR International Tourism Fair.

In 2019, travel and tourism accounted for 10,4% of global GDP, but almost halved in 2020, and a similar situation occurred with international visitors who spent $ 1.691,5 billion in 2019, amounting to fell to 517,6 billion in 2020. According to the latest estimates of the World Tourism Organization (UNWTO), international tourist arrivals have remained at 70 to 75% below the 2019 level.

The significance of these changes is important not only for GDP, but also for industry, with industry playing a vital role in creating jobs and creating opportunities for micro and small enterprises around the world.

The future of tourism is in new ideas

Despite the clear challenges, Mastercard data show that there are opportunities for a strong recovery in the relatively near future. Many consumers are thinking about how to spend their share of five billion US dollars in total saved since the beginning of the pandemic, and travel is, after consuming meals outside the home, the second most missed activity during lockdown. 

Mastercard is committed to enabling innovation and ensuring technology is used for a more inclusive, equitable and sustainable recovery, he said. Mark Barnett, President of Mastercard Europe and added: "The Center for Tourism Innovation will encourage programs and build partnerships that will help the industry recover and encourage more inclusive and sustainable tourism growth. Being located in Spain, it will allow us to take advantage of the expertise of a country that is truly connected to tourism and which is the second most visited destination in the world.. "

UNWTO Secretary General Zurab Pololikashvili he pointed out that the future of tourism will be guided by new ideas, new business methods and common solutions to overcome the challenges and fulfill the huge potential of our sector. UNWTO welcomes the creation of a new Center for Innovation in Tourism and looks forward to working closely with Mastercard to harness the power of data and creativity to build a more inclusive and sustainable sector.

The Tourism Innovation Center will act as a global platform for industry research, tourism strategy development and tailor-made product creation and solutions, through partnerships and initiatives such as:

• Thought Leadership: Using Data Insights and Gathering Target Consumer Features to Identify Trends and Inform About Decision Making
• Development center: creating new products and services, codifying best practices and serving as a platform for bringing together public and private sector partners to jointly innovate,
• Laboratories as a service: design, development and testing of new products and platforms delivering the first digital, sustainable and inclusive solutions for industry, addressing common business and consumer priorities.

Support to the global tourism industry

Through its reliable network and leading technology, Mastercard is at the heart of the global tourism industry by: 

• It facilitates payments so tourists can spend safely and easily when traveling abroad
• It enables the acceptance of digital payments for small businesses to enable them to benefit from tourism
• Collaborates with travel agencies, airlines, hospitality providers and many others across the ecosystem
• Builds loyalty through the platform Priceless.com, giving tourists personalized access to the best and most exciting opportunities when exploring or returning to desired destinations
• Builds partnerships with travel agencies to support companies in the tourism industry and encourage inbound tourism through digital vouchers and incentive schemes
• Provides insight into data to governments and travel agencies to identify trends and inform strategies, including the Mastercard Economics Institute Insights Reports

As one of the tools, the Mastercard platform Tourism Insights analyzes the entire consumer journey, before, during and after the trip, thus enabling users - organizations in the tourism sector - to better understand the plans, interests and preferences of visitors, which serves to shape their offer and direct marketing investments.

This solution helps tourism communities and government agencies at the local and national levels plan their tourism recovery programs, from launching international marketing campaigns to granting subsidies to citizens to encourage local spending in the tourism sector. This tool is used, among others, by London, Paris, Madrid, New York and the Greek Tourist Board. 

Uplift.hr -  a platform for educating and inspiring local small entrepreneurs

To help micro, small and medium entrepreneurs engaged in tourism in Croatia, Mastercard has launched a platform Uplift.hr, intended for this sector.

It is a unique project that brings together news, information and educational content for small entrepreneurs in order to facilitate the growth and development of their business. In the first, currently current season, the project is mostly aimed at entrepreneurs from tourism and related activities because it is the branch of the economy most affected by the pandemic, and as it is a long-term platform, the direction will be adjusted depending on local needs. communities.

As part of the Uplift platform, a special educational program has been designed, Uplift Academy, the only education of its kind in Croatia that bases its program on a modern approach, taking into account current market trends and specifics of the tourism sector. The online program, lasting 20 weeks and a total of 210 hours, is conducted by Algebra, the first generation consists of 40 scholarship holders, started in October 2021, and will last until April this year.