For the last 4 years the traditional press trips to destinations have been replaced by influencer trips. This entails bloggers, vloggers and influencers/celebrities (I will refer to all as influencers in the rest of this article) travelling to destinations to promote these. In the past it was a journalist writing for a print paper or magazine. For the latter, the editorial or commercial department would negotiate the details with the Destination marketing organisation or DMO (tourist boards/offices). The ROI was calculated in a simple investment from the DMO versus the media value the article(s) would generate. Nowadays, the media value is a bit trickier to calculate. Up to now, there is no general or global formula to determine the exact monetary value of a blog, blog or collection of posts on social media.
2 examples of how blockchain can impact the travel industry
Blockchain technology is an electronic ledger. The uniqueness is that it is a de-centralized ledger and therefore more transparent and secure. Blockchain technology can be used to transfer items of value (whatever they may be, you decide) in a more secure manner and without the help of a third party who charges transaction fees