The travel and transportation ecosystem seems destined for a fundamental shift, given the connectivity blooming among institutions, industries, and individuals. What will this ecosystem look like in 2025 and beyond? And how can businesses and policymakers both shape and capitalize on the changes that will remake this elemental part of industry and society?
The World Economic Forum, in collaboration with The Boston Consulting Group, is exploring these issues as part of its Living in a Hyperconnected Reality initiative. The initiative has identified 20 megatrends that will have a major impact on travel, transportation, and logistics. These megatrends, in turn, will give rise to scenarios describing the evolution of four interrelated sectors—multimodal transportation, hospitality, telecommunications, and IT—and the means people will use to meet a range of mobility needs.
An initial survey of companies’ awareness of the megatrends found several blind spots—important trends, such as cloud computing and big data, that are not as well understood as others. To win in the twenty-first century, companies need to have a clear vision of how these trends might unfold (this is where the scenarios come into play), together with the agility and capabilities to act on this vision.
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