Voice of The Industry: Travel One Year On

June 2021

One year on, travel and tourism are still struggling to recover, however, the Voice of the Industry Travel Survey shows signs of growing optimism amongst travel professionals, with digital health passports a key way to reopen safely. Big data, analytics and AI remain the primary focus for investment to drive operational and marketing efficiencies. While sustainability is gaining as a powerful force for recovery, resonating with consumers as well as businesses.

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Travel snapshot

This report highlights the results of Euromonitor’s Voice of the Industry: Travel and Tourism survey, alongside commentary and context from Euromonitor experts.

Top findings from Voice of the Industry: Travel and Tourism survey include:

The Coronavirus (COVID-19) pandemic continues to exert a massive toll on travel businesses, yet there are signs of growing optimism reported by 42% of respondents one year on;

in a safe and secure way, along with testing also ranking highly; opening up71.2% of travel professionals regard digital health passports as the primary way for

Big data and analytics, along with artificial intelligence, remain key investment areas for digital transformation for travel companies, accounting for 65% and 55%, respectively, of future tech to have an impact over the next five years;

The level of mobile app provision by travel businesses to consumers was rolled back over 2020/2021, accounting for 37%, down four percentage points, of respondents. The primary functions for apps are 24/7 customer service, mobile check-in and mobile key entry - all highly important in providing a safe and seamless customer experience post- pandemic;

In April 2021, 76.2% of travel professionals expected their customers to be more concerned with sustainability after COVID-19, a strong uplift from 68.0% in 2020, while an increase of 2.5 percentage points was seen in businesses engaging with the 17 Sustainable Development Goals to 52.5%.

Introduction

Travel snapshot

State of Travel

Cautious optimism despite ongoing challenges
Travel hit by the full force of the pandemic
Flexible terms and conditions continue to cause pain
Bringing business travel back from the brink
Business continuity plans
State of travel over the long term

Factors Impacting Travel

One year on, brand building is the priority in the short term
Digital health passports the most popular measure for reopening
Mid to long term, priority on improving and digitizing CX
AI and data continues to exert the greatest disruptive power
Role of artificial intelligence in facilitating safe travel
Biometrics to play a critical role in digital health passports

Mobile and Digital Commerce

Investment in mobile goes in reverse during pandemic
Rolling back in providing holistic customer experience
Mobile functionality vital for customers post-pandemic
Aligning business vs consumer priorities for driving trust
Reputational risks in not embracing mobile engagement

Travel and Sustainability

Consumers in the driving seat in terms of interest in sustainability
Consumers put social impact above everything
The “great outdoors” is a popular post-lockdown choice
Sustainable travel edges closer to parity with mass market
Need for closing the “say-do” gap
Carbon tracking makes small inroads
Sustainable Development Goals take a backseat
5 Ps - greater focus on people during the pandemic
Climate emergency requires multi-stakeholder approach
Rising trust in eco-friendly and sustainability labelling

Innovation in Travel

Digital and sustainability dominate as sources of innovation
Innovation for enabling safe and sustainable travel post-COVID-19
Digital health passports - IATA Travel Pass
Health inspired innovation - C-Face smart mask
Vertical integration - Singapore Airline’s experiences brand
Partnerships for the new normal - Sherpa for travelling freely
Contactless check-in - Duve offers end-to-end seamlessness
Self-guided, self-driven - Autoura takes DIY to the next level
Smart destination management - Cleverciti for traffic control

About Voice of the Industry

About Euromonitor’s Voice of the Industry Survey series
Focus within travel industry of Voice of the Industry respondents
Job title of Voice of the Industry (Travel) respondents

About Voice of The Industry

Geographic focus of Voice of the Industry (Travel) respondents
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