HOTEL & TOURISM SMARTreport #46

2020 Spring edition Edition

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2020 GLOBAL TOURISM RESET

The global health and financial crisis is paying a particularly heavy toll on the tourism industry. But where is it leading us, and what will change as a result of the crisis? As they say “in any crisis lies opportunity”, so what will be the opportunities after this one? One of the industry’s biggest bugbears – overtourism – is suddenly no longer a problem. Distribution is another question, in which hotel operators and OTAs are finding themselves at loggerheads about how this situation should have been handled.

In the months and years “post Covid-19”, it will be very much as if we have pressed a giant “reset” button. The industry will need to trace a new roadmap, and will
need unprecedented thought leadership in order to do so. As borders re-open, people will want to get back out into the world. Due to the financial crunch, the first to do so will be those in upper income brackets, again benefitting the luxury travel market. For this reason, we believe the “elite” of travel advisors such as those of Virtuoso and the Signature Travel Network, will be the first to be fully back in business.

In this edition, we keep a positive spin on the future, while not ignoring the challenges. We wish all those in the industry courage and foresight for the coming months; but most importantly, take care – and stay safe and healthy.

Richard Barnes – Editor-in-chief