What Are the Challenges of Cyber-Physical Models in the Tourism Business?

Abstract

In the information age, factors such as globalization and new technologies have influenced consumers' choices. Many companies are connecting with them in a creative way. Customers contribute with ideas, not only for products but also for services and systems. Cyber-physical and mobile media tend to revolutionize the business model across multiple industries. This chapter reflects on how Portugal is in terms of digital transformation, through the internet of things (IoT) and smart applications. Also, which impacts can these trends have in tourism, facing the fourth industry challenge whose cyber-physical processes perform new services. Portuguese firms increasingly focus on services and knowledge. Customer data has been a factor of knowledge expansion and its materialization into new goods and services. However, this overwhelming potential requires more flexible processes and digital skills in companies. Recent innovation acceleration programs are helping them to cope with these trends, due to their entrepreneurial orientation and external knowledge connections.