Pricing the 21st century

The development of tourism and travel has seen incredible growth in the first two decades of the 21st century. As we are just emerging from a global pandemic, as a geopolitical crisis in Eastern Europe poses risks to the global economy, and as climate issues become increasingly oppressive, we could be skeptical about the growth potential of the travel industry. Admittedly, the rapid changes in the economic environment require increased vigilance. However, there is little doubt that the demand for travel will remain strong for- ever. In a world where the scarcity of resources impacts costs, and where the mood of society gives way to pessimism, we must be attentive to the evolving will to travel and the solvency of consumers. Revenue management must be more strategic than ever to maintain the link between supply and demand, maximize revenues, and allow transport and tourism companies to remain profitable. Let's review the economic and societal challenges of our century and anticipate their repercussions on the pricing of transport and tourism services in order to understand what will be the winning pricing strategies and tactics in the 21st century.