While travellers used to opt for package deals including all-you-can-eat wristbands, the rising trend in the travel sector are highly individualised sightseeing tours and off the beaten path excursions with skip-the-line tickets.

Touriocity brings savvy travellers and knowledgeable tour guides together on their platform, allowing tourists to plan their very own excursions in a city of choice.

The increasing demand for exclusive excursions, attractions, and dining

— aggregated as travel activities — stems from the fact that millennials will make up 50% of the travelling demographic by 2020. According to a study conducted by DCS Plus in 2016, the affluent millennial traveller is willing to spend a lot more for “unique, personalised, and experience-based travel.”

Tourism industry research giant Phocuswright reported in 2017 that the travel activities segment makes up for 10% of the global travel market, outsizing train ticket sales, and car rentals.

Phocuswright forecasts the millennial-powered activities segment to reach a market size of $183 billion by 2020.

The tourism industry is growing double digits every year, with travel activities making up for 10% of the global market. It’s also the fastest growing segment.

Tokenisation to spur growth

Tour guides are the very backbone of Touriocity: They plan and organise excursions, act as ambassadors for the platform and they are the human link between platform and end-use. Naturally, Touriocity wants to take good care of them.

But, as Alex explained in his one-on-one session with José, it’s hard taking care of your guides when it’s such a hassle to transfer payments to their accounts. For example: It’s almost impossible to wire transfer money straight into a Cuban bank account, and Moroccan guides need Western Union to act as an intermediary.