Making it through the first six months of the pandemic has been the main priority of travel executives. But now it's time to begin looking forward to determine how best to grow your way out of the crisis. Now is the time to be bold — to think bigger and more innovatively given the industry’s reset.
Navigating the Covid-19 pandemic, for many players in the travel industry, has been like sailing into a hurricane. Six months in, many are trying to right themselves but realize that their navigational charts are no longer adequate.
Although the travel industry is no stranger to hardship and has certainly been damaged seriously by the pandemic, we have already seen strong leadership actions that are keeping companies and their people above water while remaining focused on long-term growth. Many players have acted quickly to retain customer goodwill, tap new sources of liquidity, and work effectively with unions to agree on voluntary redundancy programs. We have also seen innovation and a focus on customer experience. These examples illustrate the travel industry’s strength that will help it chart a way forward through these challenging times.
How to best help the travel industry come out of the crisis stronger? Can the travel industry and leaders in the travel business emerge from this global pandemic better and stronger? Can the future of travel be more aspiring, more influential to our collective effort of a better world? It was with these questions in mind that Skift Research partnered with McKinsey & Company to create this report. Our goal is to combine robust research data with insights informed by first-hand client services to help travel companies learn from the first six months, understand the latest trends and identify the pragmatic next steps to emerge from the crisis stronger.
This report culminates with a set of four critical actions for travel companies to take, regardless of sector. We believe through self-reflection and acting on lessons learned from this pandemic, centering on building a people-focused business and a connected travel ecosystem, travel companies can emerge from this period not just intact, but better than before.
What You’ll Learn From This Report
- Health, risk and strength analysis of major travel sectors
- Different recovery paths of leisure travel and business travel
- Forecasts and indicators of travel recovery
- Four actions for growing out of the crisis stronger
You can access the report, created in partnership with McKinsey & Company, by filling out the form below.