Promo Insiders: Flying High in the Travel Market

Staff shortages, high costs, geopolitical uncertainty – the travel industry is being impacted by a slew of hurdles post-COVID.

New State of the Industry data from ASI Research bears that out. While distributor sales in the hospitality market have increased each of the past three years, they have yet to return to pre-pandemic numbers, despite pent-up demand for travel.

Still, there are bright spots. “The good news is that people are ready to travel again,” says Dr. Jan Louise Jones, professor of hospitality and tourism at the University of New Haven’s Pompea College of Business. “We see numbers up. People are back to traveling internationally.”

The hospitality market has gotten used to challenges, she adds, like supply chain snafus and geopolitical wranglings. And in fact, destinations will have to prepare for “overtourism,” particularly in Western Europe. Still, high costs, including those for flights, transportation, accommodations, food and recreation, are another obstacle for travelers contending with inflation at home.

The good news is that determined travelers are making summer and fall plans. Distributors would do well to keep their eyes on a number of growing trends, like solo travel (especially among millennials), trips to attend big concerts and sporting events, and adventure tourism.

“Young people are ready to get out and do things after COVID,” says Jones, who recently took her students rafting in Tuscany. “They want to enjoy nature while doing something a little different than what they’ve done in the past in these locations.”