"The travel industry is an $11 trillion market and is undergoing a complete re-architecting"

"The travel industry is worth $11 trillion and is undergoing a complete re-architecting," said Steve Singh, chairman and CEO of Spotnana, a travel platform that supports travel agents, in a conversation with Iya Magen, CEO of Talma Travel Solutions. The discussion took place as part of Calcalist and Leumi's Mind the Tech New York 2025 conference.

Magen spoke about Talma’s decision to acquire the company representing Spotnana in Israel and introduce the innovative platform to the local market. She also noted that, in addition to this acquisition, Talma is in the process of acquiring another company in the U.S., following its expansion into Miami and the U.K. last year.

Singh, renowned for transforming corporate travel management through Concur—a travel giant acquired by SAP in 2014 for $8.3 billion—outlined the business opportunity in the sector: "The travel industry is an $11 trillion market, making it one of the largest industries in any economy. Right now, it's being completely re-architected—100% of the travel infrastructure is being rebuilt."

Discussing the evolving industry, he emphasized: "I've been in aviation and travel for more than two decades, and I believe we are at a rare inflection point where the entire sector is changing. Travel management is no longer just an operational necessity; it's a strategic lever for growth and stability."

Bringing Spotnana to Israel

Magen highlighted her decision to introduce Spotnana to the Israeli market: "Spotnana is the most exciting platform I've seen in my career, and we are proud to bring it to Israel. Talma's role is to localize, support, and ultimately offer Israeli companies a solution that makes sense for finance managers, HR managers, and travelers alike."

Explaining what sets Spotnana apart from other platforms, Singh said: "Spotnana is rebuilding the entire technological infrastructure of travel management. Take a typical trip—if your flight is delayed, you might miss your connection and arrive late for your car service. Our solution automatically manages these scenarios, ensuring a seamless experience."

Magen stressed the growing need for advanced travel solutions among Israeli companies: "This is exactly what Israeli businesses are experiencing. They are expanding globally at a rapid pace, and they don’t just need a booking platform—they need a system to manage their policies, provide online support, and serve as a travel infrastructure. They’re not looking for traditional travel agents; they need a technology-driven solution."

Investment opportunities in corporate travel

Discussing investment opportunities, Singh noted: "My investment firm has backed six travel companies so far. I’m so bullish on corporate travel that we’ve invested nearly $400 million in this space, which speaks to the immense opportunity we see. Our philosophy is simple: if we’re not tripling our investment, it’s not a good deal. This is one of the most exciting moments I’ve witnessed in travel—I can’t recall another time when every layer of the system was being reinvented."

As the conversation wrapped up, Magen added: "I believe it's time to rethink how we motivate people, how we manage corporate travel, and how we lead this industry into the future."

Watch the full exchange in the video above.