The Evolution of Business Models in the Travel Industry in the Context of Digitalization

This article examines both the retrospective and modern characteristics of business models in the travel industry, considering the impact of digitalization. The industry is undergoing large-scale transformations driven by cutting-edge technologies, necessitating a rethinking of traditional frameworks and the development of new strategies. In recent decades, the emergence of digital ecosystems, the expansion of platform-based solutions, the personalization of services, and the application of artificial intelligence have led to a fundamental reconfiguration of the tourism sector. However, despite the extensive body of research, there remain significant disagreements in the academic literature regarding the nature of digitalization: while some scholars view it as a gradual evolutionary process, others describe it as a technological revolution that radically reshapes the industry's structure. The objective of this study is to analyze the stages of business model evolution in the travel industry amid digital changes, identify key factors driving sectoral development, and systematize existing approaches to the differentiation of business models. The author concludes that the modern travel industry is moving towards integration into a unified digital ecosystem based on data and algorithms, which not only transforms consumer experiences but also gives rise to new monetization strategies and competitive models. The author's contribution lies in formulating a perspective on the future development of the sector. The findings of this study may be valuable to researchers examining the digital platform economy, tourism industry professionals, and practitioners involved in strategy development for travel companies.