Tripadvisor®, the world's largest travel platform, today released the findings of a multi-month study that analyzed consumer travel sentiment and first party behavioral data related to the ongoing pandemic. The report outlines a five-stage recovery for the travel and hospitality industry, inclusive of the period of decline created by the pandemic through the anticipated market recovery and the return of international travel.
The research paper, entitled "Beyond COVID-19: The Road to Recovery for the Travel Industry," can be read in full, for free, here: https://www.tripadvisor.com/Covid19WhitepaperMay2020.
This research paper also explores and identifies where the tourism and hospitality industry is on this road to recovery as well as 1) outlines the significant pent up demand that exists in the marketplace for travel and dining, 2) details the change in travel and dining behaviors resulting from the ongoing pandemic and 3) illustrates recent search and traffic patterns on Tripadvisor globally related to the crisis.
A snapshot of some key findings:
- New Zealand, Germany and Switzerland among first markets to enter the Emerge stage, with restaurant searches on Tripadvisor resurging strongly
- Consumer desire to travel remains resilient - around two in five (41%) consumers are optimistic that they will take the same or more trips than last year
- Shorter trips to destinations closer to home are a recurring theme, with nearly half (44%) of consumers saying they are more likely to take a road trip, and two thirds (61%) saying they are most comfortable taking a road trip for 3-5 days
- Consumers are 218% more likely to want to take a trip where they can relax compared to before the pandemic1, and nearly two thirds (59%) would prefer to go somewhere off the beaten path
- Nature and beach destinations on the rise as Tripadvisor sees spike in North American traffic researching Campgrounds, Ranches and Beach Motels, while Myrtle Beach, San Diego and Key West are among the most popular domestic U.S. destination searches in recent weeks
"We're encouraged to see positive signs of recovery and are here to help our travelers and partners understand the pathway through this pandemic with clear insights and tangible data," said Kanika Soni, chief commercial officer for Tripadvisor, Inc. "Our path to recovery will depend on the steps the industry takes to prepare for the road ahead - not just in terms of new standards and practices but also in how we collectively educate and engage consumers in a new, more thoughtful way of traveling."
The five stages to recovery
The Tripadvisor in-house market research and insights teams have outlined five distinct stages of tourism impact and recovery:
- Decline - Travel declines sharply as widespread restrictions enforced
- Plateau - Sharp decline in bookings levels out, but travelers start dreaming their next trip
- Emerge - Easing of travel restrictions begins, early signs of recovery in dining sector
- Domestic Travel - Travelers book their first trips away, but stay close to home
- International Travel - Border restrictions ease, and international travel begins to rebound
An industry eager for actionable insights
Tripadvisor continues to leverage its research and insights to educate the tourism and hospitality industry and brands on how to appropriately attract more consumers as stay-at-home orders begin to lift globally. Media buyers, hoteliers, restaurateurs, and tour operators alike can gain functional advice on how to best serve their customers' needs in each stage of the recovery. Across the board, safety, flexibility and transparency are key to rebuilding traveler and diner confidence.
For additional information on the impact COVID-19 has had on the tourism industry, visit our webinar series found at: https://www.tripadvisor.com/TripAdvisorInsights/w5933.
Tripadvisor, the world's largest travel guidance platform*, helps hundreds of millions of people each month** become better travelers, from planning to booking to taking a trip. Travelers across the globe use the Tripadvisor site and app to discover where to stay, what to do and where to eat based on guidance from those who have been there before. With more than 1 billion reviews and opinions of nearly 8 million businesses, travelers turn to Tripadvisor to find deals on accommodations, book experiences, reserve tables at delicious restaurants and discover great places nearby. As a travel guidance company available in 43 markets and 22 languages, Tripadvisor makes planning easy no matter the trip type.
The subsidiaries of Tripadvisor, Inc. (NASDAQ: TRIP), own and operate a portfolio of travel media brands and businesses, operating under various websites and apps, including the following websites:
www.bokun.io, www.cruisecritic.com, www.flipkey.com, www.thefork.com, www.helloreco.com, www.holidaylettings.co.uk, www.housetrip.com, www.jetsetter.com, www.niumba.com, www.seatguru.com, www.singleplatform.com, www.vacationhomerentals.com, and www.viator.com.
* Source: SimilarWeb, unique users de-duplicated monthly, March 2022
** Source: Tripadvisor internal log files