Travel to return to pre-COVID levels by the end of 2024

By Shilpa Annie Joseph, Desk Reporter
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According to a new survey, more than a third of airline and agency leaders believe travel will return to pre-pandemic levels by the end of 2024.

The study was commissioned by Sabre, a leading software and technology provider, and carried out by Munich-based management consultancy, Dr. Fried & Partners.

According to the statement, “The study involved both quantitative and qualitative research with 500+ decision-makers from airlines and travel agencies. Respondents were surveyed in eight languages across 20 countries in EMEA, APAC, and the Americas, along with in-depth interviews with selected industry leaders.”

The participants were questioned about the impact of the pandemic on their customers and their businesses, as well as the implications for the future of the travel industry.

The key findings cover the differing priorities of airlines and agencies as both sectors prepare to address potential recovery opportunities and create new growth opportunities, as well as differences in technological investment priorities by global regions.

The wide-ranging study highlights the different areas of focus for airlines and agencies as both sectors seek to capture opportunities for recovery and future growth.

“For airlines participating in the survey, major trends identified include increasing consumer bookings protection, the growth of “bleisure” as a catalyst for potential corporate travel recovery, and offering more sustainable flight options to meet customer demands,” as per the report.

The survey indicates that airlines are also focused on increasing domestic and regional routes as well as how new product formats such as organized and connected trips can help optimize recovery opportunities while creating increasingly personalized experiences for travelers.

These findings were discussed in a panel discussion conducted by Sabre at Arabian Travel Market (ATM) in Dubai to discuss a new global travel industry study, ‘Mapping Travel’s New Normal’, which identifies prominent shifts in travel.

Mr. Abdul-Razzaq Iyer, Vice President, Sabre Travel Network Middle East said that, “The survey indicates that there is a clear need for agility, transformation, and collaboration so that travel agencies, airlines, and other industry players can ensure they are in a position to identify these changes, strategize for future growth opportunities and improve the experience for the traveler.”

“The overall improvement in the hospitality industry in all global geographic regions has been particularly positive, supported by a significant return of more profitable international and corporate travel. While domestic, leisure travel continues to lead recovery, the corporate is narrowing the gap, and hoteliers are benefiting from this “bleisure” growing trend,” commented Mr. Frank Trampert, Senior Vice President and Global Managing Director at Sabre Hospitality.

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