It is no secret that the travel and tourism industry took a destructive hit due to COVID-19. In fact, during the first 10 months of 2020 alone, the pandemic cost the tourism industry $935 billion in lost revenue worldwide. For much of the world, uncertainty made travel practically impossible last year. During this time, travel for leisure and business took a back seat to priorities surrounding the health and well-being of our communities.
It has been a year of uncertainty for individuals in the travel profession and many are still reeling from the implications this pandemic has had on their businesses and livelihood. However, there is a wave of hope on the horizon, and recovery from this unprecedented global event might be closer than you think.
The events of 2020 have leveled the playing field for hotels and tour companies across the industry. The time to hit the ground running and plan for a resurgence of travel and tourism is now. With so many people trapped in their homes and cities for such a prolonged period, many are eagerly awaiting the opportunity to get out into the world and explore.
According to Zeitgeist data, 70% of consumers in the U.S./UK are planning on taking a vacation this year.
It is vital that you begin to strategize for the emergence from the pandemic and set yourself up for success in 2021 and 2022. Those that position their businesses to take the leap to the front of the impending recovery will have an invaluable advantage against those that hesitate to act.