Stats: Advisors Expect Some Recovery Within Eight Months

woman with luggage at airport
(Nutthaseth Vanchaichana/iStock/Getty Images Plus/Getty Images) Photo by Nutthaseth Vanchaichana/iStock/Getty Images Plus/Getty Images

As travel suppliers scan the industry landscape for signs of recovery, Discover the World, a travel industry sales specialist, says that business is returning and that travel advisors will prove a valuable asset in driving recovery.

After interviewing travel advisors worldwide, Discover the World found that more than 75 percent of respondents anticipate some level of recovery within the next eight months. While just 6.5 percent said, “less than three months,” 30.2 percent said between three and six; the remaining 39.5 percent said between six and eight months. As for when they believe we will reach “normal” (pre-coronavirus) levels of travel, advisors had a longer expectation: The plurality (38.2 percent) said between 12 and 18 months. About one-fifth (21.5 percent) said between nine and 12 months. 

With that said, advisors seem worried about the future. On a scale of one to 10, with 1 being “Not at all worried” and 10 being “Very worried,” 69.4 percent responded between a 6 and 10. More than half (57.3 percent) have not made any bookings since the COVID-19 crisis.

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As to how travel will change in the future, 55.4 percent of advisors said they expect more apprehension/nervousness among their clients. Other popular responses were lower disposable income; clients choosing different locations; more domestic and local travel; and a reduction in business travel.

Discover’s survey identified three areas where suppliers can accelerate recovery for the travel trade: Clear and flexible policies, easy and fast refunds, and clear relevant and regular information. Flights were overwhelmingly the most challenging when it came to cancellations and refunds (60.7 percent choosing this).

Source: Discover the World

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