Recovery from post-Covid-19 travel activity would take at least three years, according to a study by Euromonitor International. The demand for international tourism will decrease to 80 percent in 2020, leading to a recovery in the medium term by 2022 and with a possible recovery to the pre-crisis until 2024, according to the forecast of the market research firm.
“The travel and tourism industry has been hit hardest by the Covid-19 pandemic. As a result, 100 percent of destinations worldwide implemented travel bans or restrictions to prevent the spread of disease in 2020,” refers to the document “Future of Travel 2040”.
As a result of the coronavirus, nearly 60 percent of consumers said they will cut their international travel in the short and medium term, according to a Euromonitor survey.
The firm underlines that for popular destinations and local communities, the closure has had a painful economic and social impact, especially in places where people rely heavily on travel for a living and employment.
The demand for international tourism will decrease to 80 percent in 2020. Photo: Pixabay
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“The Covid-19 pandemic has given way to a zero-travel state, but within three to four years, tourism demand may return to pre-crisis levels,” the document said.
Euromonitor anticipates an accelerated post-pandemic of digital transformation, where new technological advancements will usher in a new era of automation that will require additional training for employees to deliver higher levels of high-quality service.
“In a world where human interactions will be minimized, sales will increasingly change online and transactions will become contactless as digital assistants and chatbots provide personalized customer services. Robots will perform repetitive and household chores like pick up and pick up luggage, “he says.
“After the pandemic, the travel industry will look very different but familiar, having adopted an accelerated digital transformation to eliminate unnecessary human interaction,” he adds.
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Additionally, the study looks at how the impact of the coronavirus will shape the future of travel in 20 years.
The path to 2040 will be unpredictable. After the pandemic, a new pragmatic mindset that encompasses sustainability, purpose and digitization will be required, “he adds.
Caroline Bremner, Head of Travel Industry Research at Euromonitor International, stressed that travel brands must offer a proposal that converges digital with experience, sustainability and purpose.
“In the next two decades the travel industry is expected to grow again through advancements in new technologies such as AI, automation and robotics. Once 5G is globally accessible, consumers will engage with providers of travel more efficiently, “Bremner said.
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