As environmental concerns continue to rise, the travel industry must recenter its focus towards innovation.
As a result of Coronavirus (COVID-19), almost 60% of consumers said that they will reduce their international travel in the short to mid-term. The good news for the travel industry, but less so for the planet, is that consumers will eventually return to international travel over the long term, according to a Euromonitor International Voice of the Industry Survey from April 2020. The need to reduce carbon emissions whilst kickstarting aviation and tourism is at the heart of the global pandemic recovery effort,
a dichotomy which is trying to balance economic, social and environmental concerns.
A white paper published by Euromonitor International and titled Travel 2040: Climate Emergency To Force a Revolution in the Industry outlines a vision for how consumers will book and experience travel in 2040, exploring how technology and the need for sustainability could change the travel experience over the next 20 years. In particular, this analysis focuses on the future of travel — exploring what online travel agents, urban mobility, air travel, and hotels will look like.
TradeMalta can assist you with preliminary market research to help you establish a basic understanding of doing business in a specific market. Click here for more information.