LONDON, U.K., 19 November, 2020 - Tripadvisor®, the world’s largest travel platform, and Phocuswright, the leader in global travel market research, today jointly released the findings of a comprehensive new research paper into the shifting trends in global travel demand and traveller behaviours, charting the industry’s road to recovery in the wake of the ongoing pandemic.
The report, entitled ‘2020 - A Year in Travel: Charting the Travel Industry’s Path to Recovery’, analyses Tripadvisor’s first-party data on travel planning behaviours around the globe, as well as consumer sentiment across six major markets - including the UK - to provide a unique insight into global travel trends.
The full report can be read, for free, here: https://www.tripadvisor.com/Covid19WhitepaperNovember2020
Key findings from the report include:
“While there was positive progress over the course of the summer, the re-introduction of tighter restrictions on travel in many countries is clearly having an impact on demand in the short-term,” said Steve Kaufer, chief executive officer, Tripadvisor, “The good news is that people’s desire to travel remains incredibly resilient, and that pent-up demand bodes well for the travel industry in the long run, especially considering the advances announced last week in the development of a vaccine.”
“The industry has shown incredible adaptability and resilience in what has been a long and difficult year for travel,” said Charuta Fadnis, senior vice-president of research and product strategy, Phocuswright. “Our research consistently shows that travel remains a key part of consumers’ lifestyles and travellers are keen to indulge their wanderlust again. Vaccines and therapeutics will boost the nascent recovery and the industry can look forward to brighter days ahead.”
The joint report by Tripadvisor and Phocuswright provides an update to the findings published in a June research paper by Tripadvisor, entitled ‘Beyond COVID-19: The Road to Recovery for the Travel Industry’, which outlined five distinct stages of tourism impact and recovery resulting from the pandemic:
For additional information on the impact COVID-19 has had on the tourism industry, visit Phocuswright at https://www.phocuswright.com/ or visit Tripadvisor’s webinar series found at: https://www.tripadvisor.com/TripAdvisorInsights/w5933.
NOTES TO EDITOR
The data cited in this release was gathered and analysed from two key sources:
Tripadvisor, the world's largest travel platform*, helps hundreds of millions of travellers each month** make every trip their best trip. Travellers across the globe use the Tripadvisor site and app to browse more than 878 million reviews and opinions of 8.8 million accommodations, restaurants, experiences, airlines and cruises. Whether planning or on a trip, travellers turn to Tripadvisor to compare low prices on hotels, flights and cruises, book popular tours and attractions, as well as reserve tables at great restaurants. Tripadvisor, the ultimate travel companion, is available in 49 markets and 28 languages.
The subsidiaries of Tripadvisor, Inc. (NASDAQ:TRIP), own and operate a portfolio of travel media brands and businesses, operating under various websites and apps, including the following websites: www.bokun.io, www.cruisecritic.com, www.flipkey.com, www.thefork.com (including www.lafourchette.com, www.eltenedor.com, www.bookatable.co.uk, and www.delinski.com), www.helloreco.com, www.holidaylettings.co.uk, www.housetrip.com, www.jetsetter.com, www.niumba.com, www.seatguru.com, www.singleplatform.com, www.vacationhomerentals.com, and www.viator.com.
* Source: SimilarWeb, September 2020
** Source: Tripadvisor internal log files
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About Phocuswright Inc.
Phocuswright is the travel industry research authority on how travellers, suppliers and intermediaries connect. Independent, rigorous and unbiased, Phocuswright fosters smart strategic planning, tactical decision-making and organisational effectiveness.
To complement its primary research in North and Latin America, Europe and Asia, Phocuswright produces several high-profile conferences in the United States, Europe and Asia Pacific. Industry leaders and company analysts bring this intelligence to life by debating issues, sharing ideas and defining the ever-evolving reality of travel commerce.
Phocuswright also operates PhocusWire (http://www.phocuswire.com), a media service that covers the world of digital travel 365 days a year with a range of news, analysis, commentary and opinion from across the travel, tourism and hospitality sector.
The company is headquartered in the United States with Europe and Asia Pacific operations and local analysts on five continents.
Phocuswright is a wholly owned subsidiary of Northstar Travel Group.