Flywire revealed via a new independent research that most of the travelers will look for travelling to a greater degree after the end of coronavirus crisis.
The report was created by taking an independent survey from adult leisure travelers of the United States, Canada, United Kingdom and Japan. The research was purposed to find out the impact of the coronavirus pandemic in the travel plans of consumers and what they expect from the travel providers to encourage them to travel more.
Like the many other industries travel has also been hurt by the coronavirus crisis. The impact on travel experienced at every level of the industry runners from the most prominent online travel agencies to small individual tour operators and the local tourism departments. According to World Travel & Tourism Council the Worldwide GDP loss could reach $2.7 trillion in 2020 while it is anticipated that direct travel spending connected with U.S. alone is expected to decay by $519 billion.
The Flywire’s new survey proved that the travelers are hopeful about the industry resurgence despite a slump in financial outlook. This brings a hope in the resurgence of the industry after the restrictions ease off or the travel bans end completely. The survey said 93% of survey respondents showed confidence on the industry hark back after the COVID-19 crisis ends while 69% have plans to travel again. 74% are just thinking of traveling again amid the self-isolating time limits.
Flywire’s Senior director of Travel & Commercial segments at Colin Smyth said the economic loss along with no clear guidelines about the opening of traveling option for consumers stress both travel providers and the consumers. He added further, “It’s also impacting consumers significantly. In times like these, people crave a break from their normal routine; they are looking for new challenges and action-packed adventures. These are experiences uniquely offered through travel.”
According to the survey consumers intends to spend on travel again as more than half of the travelers said they will spend in the same amount on the travel for the rest of this year or next year as they did last year. One in five say they will enhance their budget. 55% has plans for initial trips in their own country. While 38% preferred the beach, 36% visiting family and friends and 23% city vacations in the types of vacations plans. The complete interactive report is available at https://flywire.foleon.com/report/bouncing-back-consumer-views-on-traveling-again/cover/.
Jamie French is an author, journalist and CEO of themostactivestocks.review, a leading stocks and markets website. He has more than 5 years of experience in institutional investment markets, including fixed income, equities, derivatives and real estate. He has a Bachelor in Business Administration with a major in Finance. He bought his first stocks in a private business at age 15 and made his first public stock trade at 23. David has always been interested in the stock market and how it behaves.
As the dad of two children, he’s made saving money and investing for them a high priority. Over many years of investing, he has made some wise choices and he’s made many mistakes. But he’s learned from both. Mr. Jamie observations and experience give him the insight to stock market patterns and the investor behaviors that create them.
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