With COVID-19’s impact on tourism, hospitality and wider society developing at an alarming pace, STR captured the views of travellers to assess their plans for future travel and spend on tourism and recreation.
NB: This is an article from STR
Our research, which was conducted with our Traveler Panel throughout March 2020, surveyed a total of 917 respondents from more than 60 countries and territories. Our key findings are presented below.
Demand for travel won’t go away, but intent to spend will lessen
The developing severity of the COVID-19 pandemic during the second half of March had a profound effect on intent to spend. As the chart below shows, those surveyed during the latter half of the month stated that they were more likely to spend less on travel and leisure in the next 12 months, in comparison to our first-half-of-March respondents.
This significant shift in consumer sentiment poses real and considerable challenges for the industry in the 12 months ahead.