Decision makers at airlines and agencies have revealed shifts in travel as part of new research launched by Saber today
Two-thirds of the travel leaders participating in the survey indicated that they believed travel would fully return to pre-pandemic levels by the end of 2024, and one-third in the survey indicated that they believed this would happen in or after 2025.
Study highlights retail opportunities for travel industry from travelers spending on ‘revenge travel’
Survey indicates that complexity is likely to become an increasing challenge for the industry, as travelers now consider more decision factors before booking a flight – survey findings point to the need for the industry to be smart to deal with the evolving landscape.
South Lake, TexasAnd May 5 2022 /PRNewswire/- Saber Company (NASDAQ:SABR), the leading provider of software and technology that underpins the global travel industry, today released a new global travel industry study Mapping Travel’s New Normal, which outlines notable transformations in the travel industry.
The wide-ranging study highlights different areas of focus for airlines and agencies as both sectors seek to seize opportunities for recovery and future growth. Commissioned by Saber and implemented Munich– Management consulting firm Dr. Farid & Partners, the study included quantitative and qualitative research with more than 500 decision makers from airlines and travel agencies. Participants were surveyed in eight languages in 20 countries in Europe, the Middle East, Africa, Asia Pacific and the Americas, along with in-depth interviews with selected industry leaders.
Participants were quizzed about the impact of the pandemic on their customers and their businesses, as well as the implications for the future of the travel industry. Key findings cover the different priorities of airlines and agencies as both sectors prepare to deal with potential recovery opportunities and the creation of new opportunities for growth, as well as differences in technology investment priorities by global regions. The results include:
More than a third of airline and agency leaders participating in the survey indicated that they believe travel will return to pre-pandemic levels by the end of 2024; Another third answered that they believe this will happen in 2025 or later
Survey results suggest that ‘revenge travel’ – with the goal of making up for lost time – is a meaningful phenomenon, with 68% of travel leaders answering that they expect higher spending from consumers on their future travel plans.
Travel leaders report that travelers are considering more decision factors than ever to commit to a trip
82% of airline managers surveyed responded that they expect the combination of work and leisure to be more prominent after recovery
More than half of the agencies surveyed responded that they now spend more time researching new tools, services, and technologies; This is a special focus area in the Asia Pacific region, for 71% of responding agencies
92% of travel agencies surveyed indicated that they want to support travel technology partners to create a smoother experience in terms of shopping, booking and fulfillment, while 89% responded that they want useful tools to personalize travel
96% of the airlines surveyed responded that they expect improved capabilities to deliver growth opportunities and improve customer service and satisfaction scores.
“One of the things that shocked us while we were doing the research was the unprecedented pace of change in the past few months,” he said. Darren RickeySenior Vice President, Global Airline Sales and Accounts, Saber. “This is of course a huge opportunity, but it also puts pressure on travel companies who have to adapt their plans, operations and processes to meet these potential changes.”
Key trends identified by the agencies surveyed in new Saber-Dr.Fried research include the importance of organized and connected trips to surmount the complexities of travel for clients; The continuing importance of domestic and regional travel and the challenges (and opportunities) of restoring business travel. Meanwhile, for airlines participating in the survey, key trends identified include increased protection of consumer reservations; The growth of “leisure” as a catalyst for the recovery of potential corporate travel and the introduction of more sustainable flight options to meet customer requirements. Reflecting agency responses, the survey notes that airlines are also focusing on increasing local and regional routes as well as how new product formats such as structured and connected flights can help improve payback opportunities while creating increasingly personalized experiences for travelers.
“Our recent research into Saber highlights a degree of optimism across the travel ecosystem,” he added. Andy FinkelsteinSenior Vice President, Global Agency Sales and Corporate Solutions, Saber. “However, it has also suggested that not all travel leaders may be prepared for these potential changes if they happen quickly. The survey indicates that there is a clear need for flexibility, transformation, and collaboration so that travel agencies, airlines and other industry players can ensure that they are in a position to understand them to identify these changes and strategize for future growth opportunities and improve the traveler experience.”
About Saber Company
Saber Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, Hotel ownersand travel agencies and other suppliers. The company provides retail, distribution and achievement, achievement Solutions that help their customers operate more efficiently, increase revenue and deliver personalized travel experiences. With a leading travel marketplace, Saber connects travel suppliers with buyers from all over the world. Saber technology platform runs more than $260B Annual global travel spend. Headquartered in South LakeAnd Texas, USASaber serves clients in more than 160 countries around the world. For more information visit www.sabre.com.
View original content for multimedia download: -space-change-results-scan-indicate-how-to-travel-different-after-recovery-301540715.html
SOURCE Saber Corporation