At Mastercard, we are furthering our efforts to support the transformation towards a more sustainable, resilient and inclusive tourism sector, understanding that the industry plays a key role in the well-being of countries and communities alike. In 2022, we launched the Tourism Innovation Hub, harnessing the power of Mastercard’s partnerships, technologies, data and expertise to create a tourism sector to meet the needs of all stakeholders — governments, small businesses, local communities and international and domestic travelers alike.

The Tourism Innovation Hub brings together the private and public sectors to accelerate the digitalization and the co-creation of innovative solutions with a focus on building a more inclusive, sustainable, and resilient tourism sector. In the next years, the Hub will continue harnessing partnerships, digital technology and data to meet the travel demands of today and tomorrow — building a legacy of inclusive economic prosperity for SMEs, companies and destinations.

Mastercard offers a range of digital tools to support SMEs in their digitalization journey, including digital invoicing, digital loyalty programs and ecommerce channels, as well as solutions which offer protection against cybersecurity threats as they embrace a more digital future.

Through our initiative Strive EU, in collaboration with Caribou Digital and the European Microfinance Network, we support Europe’s small businesses by surfacing new innovations to help them get capital, go digital and gain networks and know-how. Our Strive EU Innovation Fund will make available a total of €4.5M for up to 15 winners across EU member states. (Source: Mastercard Strive)

In Spain, Strive EU, in collaboration with the B2B Connectys platform will engage up to 105 hotels with fewer than 100 rooms to enable them to reach new clients, make and receive digital payments, and access AI-enabled insights to inform their business operations. The initiative will seek to support the growth of smaller and less digitized hotels across Spain, ensuring access to a greater share of the country’s growing tourism economy. (Source: Mastercard Strive)