What
An extensive research report compiled by Azurite Consulting measures Americans’ willingness to engage in travel activities before the arrival of a vaccine for COVID-19, among other key economic indicators.
Until there is a vaccine, 38% will not return to a theme park or aquarium; 45% will not return to a casino; 36% will not fly internationally again; 30% will not fly domestically again; and 26% will not stay in a hotel again. A quarter of avid cruisers (those who have taken 3-5 cruises between 2015-2019) say they will never cruise again. The study also finds that more than 90% of both C-suite executives and small-and-medium-sized business owners believe that the pandemic will cause them to permanently reconsider the need for business travel and in-person meetings.
Why It Matters
According to the study, business travel and cruising are not poised for quick returns. However, it is not all doom and gloom for leisure travel advisors: These figures demonstrate a willingness by most Americans to travel before a vaccine is released. Advisors who can speak confidently about travel in this new era — regarding everything from safety protocols to travel insurance — are poised to inspire trust in clients and capitalize on pent-up demand.
Fast Facts
- The survey was based off the responses of 4,500 travelers (3,500 of which are Americans) and was collected from April 17 to April 24.
- After the U.S. emerges from COVID-19, 70% of American C-suite executives and small to medium business (SMB) owners believe companies will hire fewer employees to perform the same work as before COVID-19.
- If social distancing continues until October, 34% of SMBs don’t believe they will be able to stay in business.
- The majority (83%) of business leaders and decision makers indicated that their company had taken action to help prolong the life of their balance sheets.
- The majority (94%) of business leaders believe these digital tools are going to change the need to travel for work in the future and 85% think that the tools will permanently deliver greater flexibility to work from home, in the future.
The Details
Azurite Consulting
www.azuriteconsulting.com
