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An industry in accelerated change
Do you remember your first flight? The first time you fell in love with a new city? We do.
We remember the first time we lounged on a white sandy beach on a hot summer day with our loved ones. The first time we ate street food walking the streets of a new country with college roommates. We even remember the first business trip we took—straight out of college, and too nervous to enjoy the ride.
Globally, hotels were at 29 percent occupancy, compared with 72 percent over the same period in 2019. However, we are seeing green shoots of demand in areas that are opening up, highlighting an enduring desire to travel.
But the future of the travel industry will depend on more than just travelers’ pent-up demand. Recently, McKinsey explored perceptions of those who had traveled in the last two months, across multiple geographies. It unearthed one collective constant – added stress. Whether it was due to limited entry points, multiple new restrictions, or fellow travelers failing to comply with safety measures.
Travel companies need to excite and attract customers as well as reassure them. To achieve this, industry leaders should focus on improving travel — not just making it safer. Affordability is another key pain point for travelers, with operators passing the cost of low occupancy rates onto the consumer.
Do we want to return to a world where only the elite fly again?
duke+mir looks at travel and tourism and how the accelerated convergence of technology could once again make the world a smaller, safer and more sustainable place to explore.
This issue is covered in two sections that looks at the aviation industry and big data through private and public partnerships in tourism.
Need help with future proofing your business and positioning yourself as thought leader? That’s where we come in.
