Post by zahidislam on Mar 12, 2024 2:15:05 GMT -5
We will not see a satisfactory recovery of tourism before 2025, Phocuswright is convinced of this, thanks to the data collected on the crisis and the know-how gained over decades of research in the sector The bearer of the far from encouraging forecast is Peter O'Connor, Senior Market Analyst at Phocuswright, who spoke at the 4th International Hospitality Forum organized by the Hellenic Chamber of Hotels and held last week in virtual mode. The study by the well-known research company reveals that the first signs of recovery will be seen in 2021 - as confirmed by travel forecasts in the second wave - but only in 2025 will it be possible to reach pre-pandemic levels again. Restoration of European services and revenues Illustrating the data in question, O'Connor argues for the prediction of a slow recovery with the changed structural conditions in the sector. The analyst says “part of the reason is that airlines and many other suppliers, including hotels and tour operators, have laid off some staff and eliminated some aircraft from their fleets.
” The conclusion, although obvious, sounds lapidary: restoring these Australia Phone Number services will take a long time - and substantial investments, which are prohibitive during a crisis. If we add to this a certain reluctance among travelers to travel again, we understand how difficult the puzzle is to solve in the short term. The issue of the large-scale availability of a Covid-19 vaccine is also linked to these structural gaps . Many months will pass before this is made accessible to the majority of the European population, therefore recovery at significant levels, equal to those of 2019, will not occur before 2025. And 2019 stands out, in the Phocuswright report, as a year of exceptional growth for almost all European countries, with travel market estimates exceeding 300 billion euros in revenues . Truly impressive figures, especially when compared to those of 2020, which - due to the pandemic - should amount to around 107 billion euros, with a decrease of almost 60% . The positive outcome for the Mediterranean area The gloomy visions of the future, however, also leave room for bursts of optimism, obviously supported by the company's analytical data. And the good news concerns our country! O'Connor argues that Mediterranean destinations such as Italy, Greece and Spain will experience above-average growth rates in full recovery.
The values are encouraging and hope for a recovery, as soon as possible, with a faster speed than ever. This assumption is combined with the thesis of a more timely exit from the crisis for the hotel sector compared to other travel sectors, a phenomenon driven by national demand and adjacent European markets (intra-European travellers). In fact, O'Connor stated that at least two out of three Europeans have expressed the intention to travel short-haul by July 2021. Among these, the English and Germans emerge, the most eager to leave again and targets of certain interest for Italian hotels. On the other hand, however, these travelers have shown themselves reluctant to move to long-haul destinations in the short and medium term, confirming that less than 50% would be willing to take a holiday outside Europe by next summer. The vaccine as a keystone The current critical situation arises from uncertainty closely linked – in O'Connor's words – to border restrictions, quarantines, regulations, fear of being stranded away from home, cancellation and refund policies. Until travelers feel reassured about all these conditions, they are very unlikely to decide on long-haul trips in most cases. The key factor in breaking the tourism impasse seems to be the development and large-scale diffusion of a Covid vaccine.
” The conclusion, although obvious, sounds lapidary: restoring these Australia Phone Number services will take a long time - and substantial investments, which are prohibitive during a crisis. If we add to this a certain reluctance among travelers to travel again, we understand how difficult the puzzle is to solve in the short term. The issue of the large-scale availability of a Covid-19 vaccine is also linked to these structural gaps . Many months will pass before this is made accessible to the majority of the European population, therefore recovery at significant levels, equal to those of 2019, will not occur before 2025. And 2019 stands out, in the Phocuswright report, as a year of exceptional growth for almost all European countries, with travel market estimates exceeding 300 billion euros in revenues . Truly impressive figures, especially when compared to those of 2020, which - due to the pandemic - should amount to around 107 billion euros, with a decrease of almost 60% . The positive outcome for the Mediterranean area The gloomy visions of the future, however, also leave room for bursts of optimism, obviously supported by the company's analytical data. And the good news concerns our country! O'Connor argues that Mediterranean destinations such as Italy, Greece and Spain will experience above-average growth rates in full recovery.
The values are encouraging and hope for a recovery, as soon as possible, with a faster speed than ever. This assumption is combined with the thesis of a more timely exit from the crisis for the hotel sector compared to other travel sectors, a phenomenon driven by national demand and adjacent European markets (intra-European travellers). In fact, O'Connor stated that at least two out of three Europeans have expressed the intention to travel short-haul by July 2021. Among these, the English and Germans emerge, the most eager to leave again and targets of certain interest for Italian hotels. On the other hand, however, these travelers have shown themselves reluctant to move to long-haul destinations in the short and medium term, confirming that less than 50% would be willing to take a holiday outside Europe by next summer. The vaccine as a keystone The current critical situation arises from uncertainty closely linked – in O'Connor's words – to border restrictions, quarantines, regulations, fear of being stranded away from home, cancellation and refund policies. Until travelers feel reassured about all these conditions, they are very unlikely to decide on long-haul trips in most cases. The key factor in breaking the tourism impasse seems to be the development and large-scale diffusion of a Covid vaccine.