The COVID-19 pandemic is expected to have an impact on the global economy that will stretch beyond the first year of recovery. That’s certainly true for the world of travel. So, how is COVID going to change travel over the next few years?
Higher Costs
First, it’s becoming clear that COVID-19 is going to lead to higher costs for travelers and this is going to impact virtually every section of the travel industry. Flights are going to be more expensive, activities are going to cost more and there will be higher prices for hotel stays as well as general accommodation. Tourism industry reports are already starting to reveal these fluctuations in costs that are going to completely reshape the industry. The main reason for this is almost certainly the rush by consumers to continue traveling coupled with the desire by companies to make back the money that they lost through the pandemic.
More Holiday Property Purchases
Of course, with the increase in costs, there is also going to be a higher demand from people who are keen to purchase holiday properties. Individuals will want to make sure that they can take advantage of the new wave in demand. Indeed, research suggests that holiday homeowners are going to make their typical annual profits in just one season this year. The big question is going to be where to buy and there are lots of holiday hotspots that are going to be popular now that travel is back on the menu.
Staycations
It’s not just international travel that will be more popular over the next few years. People are also going to be interested in staycations for a couple of reasons. First, the fear of COVID isn’t just going to disappear overnight. There will be lots of people that are still going to be apprehensive about traveling over the next couple of years. These individuals are going to choose to travel closer to home where they don’t have to worry about issues like flights. The other variable at play here is again the rise in prices. This change in costs will mean that there are people who can no longer fit an international vacation into their budget.
Bucket List Plans
Finally, while some people won’t be able to afford their typical travel plans, others will be more focused and committed to ticking items off their travel bucket list. The general mindset behind this will be that people don’t want to miss out on more opportunities and will be concerned that another pandemic could potentially block their plans in the future. They’ll take full advantage of the freedom they have while it remains.
We hope this helps you understand some of the ways that COVID-19 is going to change travel over the next few years. It’s fair to say that things are going to be different for everyone involved, from the customers and clients to the businesses that are part of this industry. Some changes are going to be positive while others will make things more of a challenge and present fresh hurdles that people need to climb over.
Header Image Source Credits: https://www.pexels.com/photo/shadow-image-of-a-plane-flying-during-sunset-104826/
