How Long Will It Take The Travel Industry To Recover? | 2022

BySteven I. Green

May 17, 2022 #Absorbable Modified Polymers Technology, #Advanced Technology Grants Pass, #Aidan'S Professional Technology Services, #Albuquerque Nm Information Technology Recruiters, #Bhd Technology Vr, #Catholic "Information Technology, #Ceo Comcast Technology, #Computer Technology Electronic, #Current Applications Of Rdna Technology, #Disadvantages Technology Law, #Ferrum Technology Services, #Fundamentals Of Medical Laboratory Technology, #Gmu Department Of Information Technology, #Hornborg Alf Technology Effects, #I'M Done Working In Technology, #James V. Arms Technology, #Jurassic Park Technology Analysis, #Liquidmetal Technology News, #LLC, #Mathey Technology And Engineering, #Medical Technology In 500 Bc, #Musc Library Technology Downloads, #New Jersey Technology Office Space, #Pc Ralley Technology, #Ridge Technology Services, #Technology 3x Reverse Etf, #Technology Abuse Use, #Technology Adoption Three Types, #Technology Advantage Info, #Technology And Improving Menial Jobs, #Technology Classroom Building 311, #Technology Companys In Usa, #Technology Distracting Studying Students, #Technology Docking Stations, #Technology Enablement White Paper, #Technology Images For Ppt, #Technology Impact On Finance Departments, #Technology In Chennai, #Technology In Greek Translation, #Technology Into History Lesson, #Technology Is Electricity Ted Talks, #Technology Professionals Of British Columbia, #Technology Relatesecuirty Topics, #Technology Studies Emu, #Technology To Prevent Medication Errors, #Technology Want What Ails Look, #Tesla Technology Roadmap, #Veterinary Assisting Vs Veterinary Technology, #Wentworth Institute Of Technology Animation, #What Is Today'S Technology, #With The Arise Of Technology

[ad_1]

We’ve heard all about how COVID-19 has caused the travel industry to take a nosedive and plummet into the water so to speak. You only have to take a trip to see the effects of it first-hand. 

From resorts shut down due to the lack of tourists, to a staff shortage in the travel sector, to countries opening and closing their borders as quickly as a swinging door.

Travel Industry

So when will we see the back of pandemic-affected travel?

Global Data has done the research and concludes that by 2025, it will be “COVID-who?” when you venture off to any destination. That might seem far away, but, although the travel industry can crash in a matter of weeks, as we’ve all seen ourselves, rebuilding it takes time.

Growth takes money, people, and time, and as of 2025, the travel industry looks likely to reach 101% of the pre-pandemic levels of 2019.

What does that upward trajectory look like, globally?

  • 2022- expected to reach 68% of pre-pandemic levels
  • 2023- expected to reach 82% of pre-pandemic levels
  • 2024- expected to reach 97% of pre-pandemic levels
  • 2025- expected to reach 101% of pre-pandemic levels

North America is ahead of the curve, with the region expected to reach 102% of pre-pandemic levels by 2024.

However, there are certain elements that throw a spanner into the mix. Rising living costs and inflation all play a part in impacting whether people travel, where they travel, and for how long. 

Another factor to bear in mind is the war in Ukraine. In 2019, Russia was in the top 5 outbound travel markets, with top travel destinations for Russian travelers including Turkey, Poland, UAE, Spain, and Azerbaijan.

Ukraine also had the twelfth largest outbound travel market. Both of these countries have limited movement, and travel will be severely impacted in these regions.

Another area that is not rebuilding the travel industry as quickly is Asia-Pacific as the region has been slower to open borders.

Among these countries is China, which had the world’s largest outbound travel market pre-pandemic, and is still enforcing strict lockdowns and restrictions. In 2021, the country only reached 2% of its pre-pandemic level of travel. With no signs of opening up borders in the near future, it’s projected that China won’t recover as quickly as other markets.

Although it seems like a long way away, there is positive movement in the travel industry and while it may not recover completely until 2025, we are moving closer and closer to a somewhat normal travel industry every day.

[ad_2]

Source link