Euromonitor International’s Voice of Industry Survey – Travel showcases the unprecedented impact of Coronavirus on travel and tourism businesses, with high levels of pessimism. Focus areas for recovery include big data, analytics and AI to drive operational efficiencies and consumer interactions. Sustainability is a critical driver of recovery, as travel businesses transition to a sustainable tourism model, yet there is still much work to be done before the travel industry acts with purpose.
This report comes in PPT.
Top findings from Voice of the Industry: Travel and Tourism survey include:
65% of travel industry respondents have a pessimistic view of the travel industry in the next 12 months, compared to 74% having a more optimistic view in the long term;
Big data and analytics, along with artificial intelligence will be key investment areas for the travel industry’s digital transformation, respectively accounting for 65% and 55% of future technologies to have an impact over the next five years;
In June 2020, 76% of travel professionals expected their customers to be more concerned with sustainability after Coronavirus (COVID-19), compared with 69% of professionals across all industries;
The travel industry is trailing behind other industries in terms of transitioning to sustainability with purpose, with 36.7% of respondents saying that their company was purpose-driven, compared to an industry average of 51%.
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
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