Anyone seeking to understand leisure travel overlooks tour operators at their own risk. It is one of the last great offline sectors in the travel industry but that cannot last. Changing consumer behavior and new tech is driving disruption in these businesses, the effects of which have only been compounded by the significant impact of COVID-19.
Nearly 90% of travel marketers have slashed their marketing budgets due to COVID-19. With restrained resources and changing mandates, how can travel CMOs and their teams navigate through the crisis stronger? We delve into these crucial questions for answers.
With travel restrictions in place, the U.S. travel rate in March dropped to 25% from 41% in February. What’s changed is also people’s outlook of travel on the other side of the pandemic.
Travel agents still exist; tour operators are the last sector to be moved to digital; online travel platforms are scrambling to keep the growth rate high. We are expecting to see more changes shaping up the travel arrangement and reservation services sector in the next few years.
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