Access exclusive travel research, data insights, and surveysAccess exclusive travel research, data insights, and surveys
Varsha Arora, Seth Borko & Wouter Geerts, Skift Research
October 17th, 2022 at 11:00 AM EDT
So much has happened in the travel industry in recent years. This new report by Skift Research puts perspective on those dizzying changes by providing definitive and data-driven insight into the current state of the travel industry, and the trends that will shape the future.
Varsha Arora, Seth Borko & Wouter Geerts, Skift Research
The travel industry has never been more relevant than it is today. But it took a near-total absence of mobility for the world to realize just how important travel is to us — to our economy, to our personal fulfillment, to how we work, and to how we socialize.
The travel industry grew from a mere 25 million international trips in the 1950s to a whopping 1.4 billion by 2019. It accounted for nearly one in 10 jobs globally before the pandemic. Travel powered international business and cross-cultural exchange. And then it all stopped. Not since World War II has the global travel industry been in such a turbulent state as we have witnessed over the past years. Covid-19 put a near total halt to international travel.
But the pandemic also created a moment for self-reflection and innovation. It created new patterns of behavior as travel became more local and domestic, with a greater reliance on ground transportation, and a move away from crowds and busy hotels. People started working from home, and were able to fit more travel into a more flexible lifestyle. And traveling for business purposes came back differently, as environmental and cost concerns put pressure on companies to consider how many trips could be substituted by Zoom.
In this new report, Skift Research draws on its own research and third-party data sources to chart travel’s path into the future — quite literally: there are more than 180 of them in this deck! Some parts of the world, and some travel sectors, are fully recovered, and are experimenting with new means and modes of travel. In other regions and sectors, the recovery has yet to begin in earnest. The report covers all major travel sectors and geographies, highlighting the most important trends, and providing insights into where the industry has come from, and where it is going.
Skift Research subscribers can access the report here.
Not a subscriber yet? Get a free copy of the report here.
Skift Research’s 180-slide overview of the business of travel, covering consumer and macroeconomic trends, and performance analysis of all travel sectors.
CORRECTION: An earlier version of this story stated that international travel grew to a whopping 2.4 billion trips by 2019. It was 1.4 billion trips.
Skift Research’s 180-slide overview of the business of travel, covering consumer and macroeconomic trends, and performance analysis of all travel sectors.
Varsha Arora, Seth Borko & Wouter Geerts, Skift Research
October 17th, 2022 at 11:00 AM EDT
Tags: airlines, car rentals, climate change, consumer travel trends, coronavirus recovery, cruise, hotels, short-term rentals, skift research, tour operators, tours and activities, venture capital
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