How important is Web 2.0 for the tourism sector and how can the industry apply to this trend?

Bachelor Thesis from the year 2009 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, University of Wales, Newport, language: English, abstract: Since the creation of the Internet, the commercial situation for suppliers changed more and more from a seller’s to a buyer’s market. With the help of new technologies and the improved accessibility through easy understandable software, consumers experienced a huge empowerment in the internet. Especially in the tourism sector, this consumer empowerment changed the market completely through more transparency and communication amongst the customers. As, in the near future, the strength of the buyers market will grow even more, suppliers now have to adapt to the new trend to stay competitive and to satisfy the customers.