Page 25 - Gulf Marketing Review

C O V E R S T O R Y

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VAT WILL BRING MORE ECONOMIC STABILITY

Matthew Powell, Managing Director, Middle East and South Asia, Travelport

In most of the markets we work in, last year The year 2018 will see the continued rise having a wide-ranging negative impact are
exceeded our expectations in many ways. In to prominence of five key – often intertwined far-fetched. However, many companies are
the Middle East too, it proved to be a positive – technology solutions in the travel industry: yet to get accustomed to the processes and
year for us, though the growth rate moderated mobile-driven experiences, voice search, mechanisms of how to get VAT-ready. On
a little compared to the previous year. artificial intelligence, virtual and augmented our part, we’ve been spending a lot of time
From a business standpoint, 2018 presents reality, and blockchain. We have subsequently with our customers assisting them in getting
us with a real opportunity, especially in two undertaken a number of initiatives at Travelport VAT-ready and making them familiar with the
key markets, namely India and Saudi Arabia. to ensure our customers reap the many VAT payment mechanisms work.
In Saudi Arabia, we are going to see more and benefits technologies like these present. Overall, given the global nature of VAT as
more inbound as well as outbound travellers. When it comes to VAT, I think it is going a taxation system, I don’t think companies in
So, for us, the Middle East is a very exciting to be a significant step in bringing more the region will be have much of a problem
place to be in at this time and we expect to economic stability to the region by making adapting to its introduction. Most will
continue to see significant growth in this region economies more diversified and opening simply build it into their business strategy
compared to the rest of the world. a new revenue stream. The chances of it for 2018.

DECEMBER 2017/FEBRUARY 2018 I GULF MARKETING REVIEW I 25