Mastercard: Strength in Numbers — Coordinating Small Businesses in the Tourism Sector

Singapore, March 25, 2022 - Most businesses in the tourism sector are small. In some respects, they accommodated the downturn during 2020 and 2021 well. Smaller hotels outperformed large hotel chains as tourists sought less crowded locations. Yet overall, small businesses bore the brunt of Covid-19.

“But what small businesses lack in size, they make up for in numbers.”

Proper coordination across the tourism sector through a focus on cross-industry customer journeys can empower small and medium-sized enterprises (SMEs) by creating the same economies of scale and liquidity that large businesses rely on.

This report approaches that coordination from two sides:

• B2C—a secure omnichannel payments network with an integrated engagement program and e-commerce solution

• B2B—a directory of buyers and suppliers connecting safe and efficient transactions with improved lending and financial literacy solutions.

Download "Strength in numbers: Coordinating small businesses in the tourism sector" to learn how governments and their tourism boards, or destination marketing organizations (DMOs), can help coordinate services and solutions to put some combined weight behind the numbers.