According to a report by Euromonitor International, to be launched at World Travel Market (WTM) Virtual, tourism movers and shakers are finding innovative ways to recover from the impact of COVID-19.
Entitled ‘Accelerating Travel Innovations after Coronavirus’, the report will be launched on day one of the event, on November 9, 2020. Euromonitor International revealed that provided the pandemic is contained within a year and demand begins to rebound in 2021, it expects airlines to take a minimum of four years to recover, whilst lodging and intermediaries will take even longer.
Drawing on Euromonitor International’s bank of innovation concepts across 100 countries, it will analyse how the travel industry is innovating in order to survive the seismic impact of COVID-19 that brought global travel and tourism to an abrupt halt in 2020.
Travel is lagging behind other sectors when it comes to recovery, according to Euromonitor International’s ‘Voice of Industry Survey’, which showed travel is falling behind other industries, such as consumer goods, retail and packaging, when it comes to overall engagement with the 17 Sustainable Development Goals (SDGs) that make up the United Nation’s 2030 agenda.
Senior director, WTM, Simon Press said: “Research is an important component of the WTM Virtual experience and for the industry going forward. To assist private and public sectors to keep ahead of the game and follow all procedures to attract travellers and investment, the Euromonitor is an essential session to watch and find out the latest research, trends and data post-COVID.”