Industry Update
External Article25 November 2020

Phocuswright: Travel Not Expected to Fully Recover from Covid-19 Before 2025

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PhoCusWright Inc.

Travel will begin to pick up in 2021 but the sector is not expected to fully recover from the impact of the coronavirus (Covid-19) crisis before 2025, according to a study of global tourism industry research company Phocuswright.

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Presenting data to the audience of the virtual 4th International Hospitality Forum, held by the Hellenic Chamber of Hotels on Monday, Phocuswright Senior Market Analyst Peter O'Connor said that with the release of multiple vaccines, a recovery in travel should begin in 2021 but overall it is expected to be slow and constant.

"Part of the reason for this is that airlines and many other suppliers, including hotels and tour operators, have furloughed both aircraft and staff and it is going to take time to get these services back up and running," O'Connor said, adding that consumers appear still relatively resistant to travel.

"It will take a significant amount of time for a vaccine to roll out to cover the majority of the population, even here in Europe… We do not expect a full recovery, to those lofty 2019 levels, before 2025,"

According to Phocuswright data, 2019 was an exceptional year in most European countries, with estimations of the total travel market topping 300 billion euros.

Read the full article at Phocuswright, Inc.

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