Mastercard Tourism Innovation Hub marks first anniversary with eight new collaborations at FITUR 2023

January 18, 2023 | Madrid, Spain

Mastercard today marked the first anniversary of the Tourism Innovation Hub (the Hub) with eight new collaborations at the FITUR International Tourism Fair. Tourism organizations from Spain, Portugal, Costa Rica, Panama, Gothenburg, and Prague, as well as the United Nations World Tourism Organization (UNWTO), and the Jamaica-based Global Tourism Resilience & Crisis Management Centre (GTRCMC), are announcing new or expanded relationships with the Hub during the five-day fair. Additionally, Mastercard is unveiling its ‘Innovation Hub’ concept for the first time.

In its first year, the Tourism Innovation Hub has engaged on tourism projects in destinations including Spain and Costa Rica, as well as Osaka, Japan, Prague, Czech Republic, Paris, France, and Gothenburg, Sweden.

Based in Madrid and powered by Mastercard’s data insights and technology expertise, the Tourism Innovation Hub works with governments and public sector agencies to accelerate their digitalization efforts, as well as innovate, research, and co-create solutions across the tourism ecosystem. By working closely with governments, public and private sector agencies, and tourism authorities across the world, the Tourism Innovation Hub is helping to create a more sustainable, inclusive, and resilient tourism industry.

To illustrate the impact of the Tourism Innovation Hub, Mastercard will reveal its interactive, transportable 'pop-up' for the first time at FITUR, located at stand 8c16 in Pavilion 8. It provides a mobile co-creation space to facilitate innovation and showcases Mastercard’s range of travel and tourism solutions, including the company’s Tourism Insights, Carbon Calculator, and Priceless Experiences. Visitors to the stand at FITUR can also learn more about new and existing projects through a series of presentations and panel discussions.

“Mastercard’s Tourism Innovation Hub has become a trusted collaborator to governments in developing more sustainable and resilient tourism globally,” said Michael Froman, Vice Chairman and President, Strategic Growth at Mastercard. “Together with our members we are dedicated to addressing the unmet needs of the public sector, businesses, local communities and travelers to enable tourism for good.”

Welcoming the announcement, the United Nations World Tourism Organization’s Secretary General Zurab Pololikashvili commented: “Innovation is key to realizing tourism’s enormous potential as a driver of sustainable development and opportunity for all, and the UNWTO is the bridge between the public and private sectors, allowing us to strengthen the tourism start-up ecosystem. With the Mastercard Tourism Innovation Hub, the UNWTO will reach and support even more tourism innovators so together we can build a more efficient, sustainable, and resilient sector that works for everyone.”

The global travel and tourism industry experienced a meaningful recovery in 2022. According to the International Air Transport Association (IATA), international passenger traffic rose 85.2% year-over-year in November 20221, but more can be done to accelerate and shape the recovery of the sector.

 

1 “Passenger Recovery Continues in November.” International Air Transport Association (IATA), January 9, 2023. https://www.iata.org/en/pressroom/2023-releases/2023-01-09-02/

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

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