Travel intermediaries in Argentina have been hit very hard by the COVID-19 pandemic in 2020, pushing some players to the brink of bankruptcy in the context of an already extremely challenging environment. Travel bans and border closures around the world in 2020 have contributed to an existing climate of uncertainty and led to a large decline in online travel sales and revenues.
In a bid to expand its regional presence, Despegar.com purchased leading Mexican travel intermediary Best Day in early 2020.
Despite a sharp return to positive value growth at constant 2020 prices in 2021, a return to 2019 levels of sales across all categories of travel intermediaries is not expected during the forecast period. Mobile travel sales to residents is set to return to pre-pandemic levels of sales by 2023, with intermediaries online sales and online travel sales to residents expected to follow by 2025.
Faced with the prospect of above-average growth for mobile and online travel sales to residents, along with intermediaries online sales, travel intermediaries will need to continue improving and broadening their digital offerings, especially smartphone apps. The latter represented a key channel for driving value sales at the end of the review period and is set to become more important in terms of the channels used to make bookings and interact with travel intermediaries.
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This report originates from Passport, our Travel Retail research and analysis database.
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