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75% of travel leaders indicated travel recovery to pre-pandemic levels by the end of 2024

Posted : 05 May 2022 11:30:14 | By TWO Bureau | GNN Bureau

75% of travel leaders indicated travel recovery to pre-pandemic levels by the end of 2024

Sabre Corporation (NASDAQ: SABR), a leading software and technology provider that powers the global travel industry, today released a new global travel industry study, ‘Mapping Travel’s New Normal’, which identifies prominent shifts in travel.

The wide-ranging study highlights the different areas of focus for airlines and agencies as both sectors seek to capture opportunities for recovery and for future growth. Commissioned by Sabre and carried out by Munich-based management consultancy Dr. Fried & Partners, 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. 

Findings include:  
 More than a third of airline and agency leaders participating in the survey indicated that they believe travel will return to pre-pandemic levels by the end of 2024; a further third responded that they believe this will happen in 2025 or beyond;

 Survey results indicate that “revenge travel” – with the objective of making up for lost time – is a meaningful phenomenon, with 68% of travel leaders responding that they are forecasting a higher spend from consumers on their future travel plans; 

 Travel leaders report that travelers are considering more decision factors than ever before committing to a trip; 

 82% of airlines executives surveyed responded that they expect the combination of business and leisure to be even more prominent post-recovery;

 More than half of agencies surveyed responded that they are spending more time now looking into new tools, services and technologies; this is a particular area of focus in APAC, for 71% of responding agencies; 

 92% of travel agencies surveyed indicated that they want the support of travel technology partners to create a more seamless experience in terms of shopping, booking and fulfilment, while 89% responded that they want useful tools to personalize travel; 

 96% of airlines surveyed responded that they expect enhanced possibilities to offer growth opportunities and improved customer service and satisfaction scores 

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Tags : #study, #sabre, #sabresurvey, #revengetravel, #NASDAQ, #Travelleader, #recovery

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