Is a travel boom looming?
Team Veye | 05-Sep-2021
When Airbus told the industry to prepare for a rapid Air Travel rebound, not many took it that seriously.
But soon it was having second thoughts when Airbus SE laid out a long-term plan to return aircraft production to pre-pandemic levels, an indication enough that it was betting air travel, and jet demand, could bounce back quicker than others expect.
The latest market research has signalled that there is a strong pent-up demand for tourist travel in the US market although destinations would be decided on the basis of safety, flight availability and relaxation in travel rules.
For the summer of 2021 and beyond, cruise ship bookings were strong, bolstered by the demand from the older age group who have been highest vaccinated.
The vaccination programs’ early successes globally, which potentially deliver a safe and sensible path to a near-term return to some normalcy could also shore up the travel further.
As the worst effects of the COVID-19 pandemic start ebbing, travel could be coming back with a vengeance, as people would look to reconnect, explore new destinations, or revisit reliable favourites. That Hotel reservations and rental-car bookings were surging points towards an early trend.
In the corporate sector, essential travel continues where ever possible. Conference level and external meetings were opening up, resulting in a steady increase and return to travel.
The increasing corporate confidence in both border openings and vaccine rollouts are the key factors in achieving sustainable economic recovery and the resumption of global trade. With businesses keen to get back on the road, the final phase of meetings & events, plus internal travel could soon resume, leading to a boom once again.
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