Travel & Hospitality COVID-19 Impacts

The travel industry as a whole is one of the most impacted by COVID-19, with a projected $910 billion hit to the U.S. economy according to Forbes.

While there are clear shifts in the industry right now, research demand remains as people are eager to travel following the pandemic.

What to Expect

  • Shifts in sentiment regarding why people may not travel
  • Travelers are still concerned about avoiding crowded destinations, but personal finance as an impact has seen an increase to 7 out of 10
  • Demographic trends to remain consistent with the media
  • Private vacation rental companies to thrive
    • Consumers will be proceeding travel with more caution, shifting from a large resort mentality to stay-cations
  • Companies are shifting their marketing

  • What You Can Do

    We know that the travel industry has been hit hard, but it is resilient. In the past, travel has rebounded quickly, especially as there will be pent-up demand with people ready to get away. Stay informed, stay safe, and reach out if you have any questions!

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