Most surveys agreed on one think that the demand for people to travel will bounce back, quite quickly. However, the situation will not be the same. Here is my prediction of the consumer demand for tourism.
- People really look forward to travel again. I think the demand will be strong from September this year.
- From a purchasing power perspective, there are 2 scenarios:
- Consumers with income: They will try to take leave and go.
- Consumers without income: this group can be split further to
- Family: They will not travel for at least the next 12 months until they sort out their income source situation.
- Single / young people: I think many of them will travel. They will use their saving and will think about what to do after they return home.
- There will be a lot of discounted deals from May to the end of the year.
- Cancellation policies for hotels, airlines, and travel agencies will be very flexible this year.
- The big trend will be domestic travels. Drive to destinations will be super popular. Anything to do with the drive-to travel will do well.
- International travels will rebound from Q2 next year.
- Business travel demand will drop because many companies are now familiar with video calls.