This paper first introduces some of the trends shaping modern business strategies, such as the mass customization of services, the interactive design of products with customers, the service envelope around the most basic products and the increasing information intensity of products. It then illustrates how such trends apply to the tourism industry and describes the way Information & Communication Technology (ICT) can support or enable such strategies. This will be linked to major trends in the tourism industry (globalisation, commission capping, new competitors, new partnerships, deregulation & increased volatility, etc).