The travel market generated R$189.5 billion revenue in 2023, in Brazil, according to FecomercioSP. An increase of 7.8% compared to 2022. According to a survey also by FecomercioSP, in partnership with the Latin American Association of Events and Corporate Travel Management (Alagev), only corporate travel handled only in January 2024 about R$7.3 billion 5.5% increase compared to 2023. The data indicate that the tourism segment is preparing to return to pre-pandemic levels.
In this context, the travel techs, as startups are called that offer technological solutions for the travel and tourism industry, are they are responsible for helping to leverage the industry and digitally transform the travel experience, whether for leisure or work. In order to understand the profile of these companies, Only has just completed the second edition of the Travel Techs Map.
According to the survey currently Brazil has 205 travel techs in activity, classified in a total of eleven categories. These are: Technology for other players (24,4%), Mobility (17,6%), Experiences (13,2%), Online booking and booking (12,2%), Events (8,8%), Corporate Travel Management (6,8%), Corporate expenses (5,4%), Travel Services (4,4%), Hosting (3,4%), Corporate Loyalty Program (2,41T3T).
With regard to the size and degree of maturity of travel techs, more than 70% of the sector is composed of companies with up to 50 employees IS, 36,1% have up to 10 employees, many of them with a founder-led operation. Companies with 100 or more employees represent only 14,2% of the businesses currently in operation.
“We have an active sector, digitized and able to scale. Among the companies in the country, those that offer solutions with technology for the travel segment are still few and, for the most part, young and touched by leaner teams. Given the size of the Brazilian tourism market and its potential for expansion, it would not be an exaggeration to say that we are facing a great opportunity for the” market Marcelo Linhares, CEO and co-founder of Only, the largest B2B travel tech in Latin America that offers complete travel and corporate expense management.
Regional cut
Also according to the Map of Travel Techs Brasileiras, the Southeast is the region that concentrates more companies and startups in the sector, 72,2%, with the state of Sao Paulo gathering more than half (109) of them. Secondly, the state of Minas Gerais appears, with 24 travel technologies. The South region comes in the sequence, concentrating 16,6% of tourism startups, especially Santa Catarina (17), the third state with the most travel techs in the country.
“It is essential that we adopt innovative technologies in our operations, demonstrating to investors a commitment to the modernization of this” market, adds Linhares.
Travel techs
According to Crunchbase, the world's leading innovation data platform, 2021 was the year that concentrated most of the investments in travel techs in Latin America.Only this year, tourism startups raised US$154.7 million. Between 2019 and 2023, this figure reached a volume of US$290 million.In Brazil, between 2019 and 2023, the sector received US$185 million and about 75% of the contributions occurred only in 2021.
