ECTAA Travel Payment Summit to be held on February 21 in Brussels

31-01-24

Next February 21, 2024, Brussels will host a momentous event in the world of travel and payments: the Travel Payment Summit. Organized by the European Travel Agents and Tour Operators Association (ECTAA), this meeting will bring together experts, policymakers and key industry players to address crucial topics such as emerging trends, regulations and risks associated with payments in the travel industry.

In an increasingly interconnected world, the way business transactions are executed has a significant effect on risk management, thus shaping the travel and tourism ecosystem. The summit, focused on both B2C and B2B, aims to be a space for collaboration and exchange of ideas, moving beyond isolated dialogues and providing a platform for the convergence of perspectives from different stakeholders.

A wide variety of industry leaders are expected to attend, including representatives from online travel agencies (OTAs), travel management companies (TMCs), tour operators, airlines, payment companies and leading figures from the European Union. Discussions will delve into a variety of topics, from current trends in payments to the latest developments in regulations, fraud prevention and cybersecurity risks.

Frank Oostdam, president of ECTAA, stresses the importance of a thorough understanding of the diversity and complexity of the travel industry, emphasizing that a good understanding requires an appreciation of different perspectives to enable informed debates and the establishment of fair and balanced regulations.

In addition to these core themes, the summit will serve as a platform to promote Bulgaria, ECTAA's 'Preferred Destination 2024'. This recognition is due to its rich cultural heritage, history, excellent transport connectivity and natural beauties. The Bulgarian Ministry of Tourism plans to present the country's extensive tourism offerings to approximately 80,000 European travel agents, seeking to position Bulgaria as a top choice for their clients.

In the following months, and within the framework of the 'Preferred Destination 2024' program, ECTAA will work closely with the Bulgarian Ministry of Tourism and the Association of Bulgarian Tour Operators and Travel Agents (ABTTA) to promote tourism to and from Bulgaria. This will include facilitating market access for European travel agencies and operators and connecting them with local destination management companies and other partners. These initiatives will be complemented by informative online roundtable discussions and the ECTAA General Meeting in Sofia in October 2024, providing an ideal platform to promote Bulgaria and develop strategies for mutual growth.

The Travel Payment Summit in Brussels and related 'Preferred Destination 2024' activities reflect the commitment of ECTAA and its partners to advance the travel and tourism sector, addressing current and future challenges, and exploring opportunities for growth and innovation in this dynamic industry.