Summary
Since the onset of the pandemic, rapid innovation and digitalization separated the tourism companies that were resilient from those that struggled to remain operational.
Although bookings via travel agencies and platforms significantly declined during the first quarters of the crisis, providers quickly assessed customer needs and concerns to update their offerings. One key update included more flexible cancellation policies on bookings, allowing travelers peace of mind when booking holidays in uncertain circumstances.
In addition to this, travel companies have addressed the increased concern over hygiene and health & safety protocols by offering complimentary health insurance, with some even offering COVID-19-specific insurance programs.
Moving forward, businesses across the tourism industry are gearing up process and product development ahead of an expected surge in demand for travel over the coming months. To prepare for this, booking platforms have been focused on developing a wider range of services, as well as more seamless, easy-to-use booking processes. This has resulted in travel booking apps and websites that offer more holistic experiences, such as the ability to book door-to-door travel plans – as opposed to standalone flight or hotel bookings – and to make in-app restaurant purchases when traveling.
