Travel intermediaries bore the full brunt of the global travel shutdown caused by the pandemic, and it is likely to take at least five years for sales to return to pre-crisis levels. Global brands have responded by pivoting to domestic tourism, shoring up their finances and accelerating their digital transformation. Providing greater levels of personalisation and an enhanced holistic customer experience are key ways to stimulate demand. Further consolidation and new entrants are on the cards.
This report comes in PPT.
The pandemic has had a substantial impact on travel, wiping out decades of growth in months. The volume demand model is dead, much to intermediaries’ chagrin, as it has been responsible for their success.
Notwithstanding new protocols, personalising the traveller experience has taken on even greater importance post-COVID, leveraging all kinds of digital tech like AI, big data, analytics, biometrics and the cloud to provide the perfect trip.
Post-COVID there is greater consideration by intermediaries of their role in the travel supply chain, as aggregators and sellers of travel products. Intermediaries like Intrepid Travel and TUI lead the positive impact, sharing best practice.
Opportunities in tourism demand have been shifted much closer to home by the pandemic, to local and domestic markets. Intermediaries will push shorter trips, with the offer of protection and flexibility.
Thanks to digital acceleration, technology will be the enabler of elevated experiences across the customer journey, blending different travel intersections and supplier handovers seamlessly to optimise real life magical moments.
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
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