Asia-Pacific’s spirit of innovation benefits travel and tourism: WTTC chief
The emergence of four or five tech giants in AI in the next five years, and "one of the best" emerging from Asia-Pacific, will be exciting on the innovation and product front where the region is expected to continue to be the "fastest growing".
Julia Simpson, president and CEO, WTTC, in her keynote address at Tuesday’s Aviation Festival Asia, held in Singapore, noted that the region is "very quick to innovate" and invest in product development.
Examples include buying aircraft with better fuel efficiency, using AI for optimal flight paths, saving fuel depending on weather conditions, and customer "hyperpersonalisation".
AI is both a revenue generator and cost saver, she opined, and is transforming travel and tourism in areas such as limiting food waste and changing buying patterns.
"(The adoption of) AI has to start from the CEO, be led from the top and skills put in place in-house to take out the cost and eventually give customers a better experience," she noted.
While ground transportation may be the biggest greenhouse gas emitter, WTTC’s job is to call on governments to support the production of sustainable aviation fuel (SAF), Simpson declared.
In a recent statement issued by IATA, SAF production volumes reached one million tonnes or 1.3 billion litres in 2024 and accounted for 0.3 per cent of global jet fuel production and 11 per cent of global renewable fuel.
She named Singapore as a good example of a country leading the way in SAF production.
While global GDP is expected to grow between 2.3 and 2.5 per cent over the next 10 years, Simpson said travel and tourism is expected to grow twice as fast and keen investors are looking at tech opportunities in Asia-Pacific.
In a follow-up panel discussion during the conference, Simpson and airline chiefs addressed the recent spate of accidents and reiterated the industry’s safety-first principle and regulatory measures that still make flying the safest means of transportation.
Airlines cannot fly if they do not meet the regulatory requirements, Richard Nuttal, CEO, SriLankan Airlines, stated.
He added that there should not be speculation over air accidents and regulatory bodies should be left to conduct their investigations.
Ajay Singh, chairman and managing director of SpiceJet, attributed the media attention to the aviation industry being "the most visible".
Simpson, formerly with British Airways, said the industry’s safety culture and regulatory measures are well in place, there is "zero tolerance", and safety is at the top of the agenda.
February 19, 2025 at 08:05AM
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Caroline Boey