2021年旅游行业数字营销报告（英）-43页_3mb

Business Intelligence - Travel Summary

Core Content

The Business Intelligence - Travel report provides an analysis of the advertising, business, and consumer behavior trends in the travel industry post-pandemic. It highlights the profound disruption caused by the pandemic, the slow recovery of travel spending, and the increasing role of digital transformation in reshaping the industry.

Main Views

• Pandemic Impact: The travel industry was one of the hardest-hit sectors, with adspend dropping by 46% in 2020, compared to a 4% drop in the overall ad market. Travel adspend remained 33% below 2019 levels in 2022 and is expected to return to pre-pandemic levels only by 2023.
• Recovery Trends:
  • Travel adspend is projected to grow 24% in 2021, 36% in 2022, and 19% in 2023, significantly outpacing the overall ad market.
  • The US and China are the most domestic-focused markets, with a higher share of travel expenditure spent on domestic trips.
• Digital Transformation:
  • 63% of travel adspend was allocated to digital in 2020, and this is expected to rise to 70% by 2023.
  • Digital advertising is becoming central to the travel industry, helping brands create a seamless, end-to-end digital experience from research to destination navigation.
• Shift in Consumer Behavior:
  • There's a growing demand for sustainable travel, with consumers opting for domestic travel, low-carbon journeys, and longer stays at fewer destinations.
  • Consumers are now more cautious about health and safety, with 54% of U.S. adults expressing greater concern for their family's health and safety, and 72% reporting negative impacts on their mental health.
• Business Travel Decline:
  • Business travel, which was the backbone of the pre-pandemic industry, has seen a significant decline. Airlines and hotels must restructure their business models to accommodate the shift from business to leisure travel.
  • Airlines are rethinking their routes and fleet usage, focusing on long-haul travel to holiday destinations and reconfiguring cabins for family use.
  • Hotels are shifting investment from business hubs to tourist cities and resorts, and may adopt Airbnb-style models for long-term stays.

Key Information

• Digital Advertising:
  • Travel brands spend more on digital advertising than the average brand.
  • Online video is expected to play a key role in creating emotional connections with consumers.
• Market Recovery:
  • India is expected to lead the recovery with 31% growth in travel adspend between 2019 and 2023.
  • Russia will also see significant growth, with 21% increase in adspend over the same period.
• Government Restrictions:
  • Different countries have adopted varied responses to the pandemic, leading to divergent recovery timelines.
  • Australia has implemented a total border closure, while Germany, Poland, and Spain have imposed quarantine measures for high-risk regions.
• Consumer Preferences:
  • Consumers are more selective and value choice, value, and trust in travel brands.
  • Flexible booking terms and free cancellations are increasingly important to consumers.
  • Digital assistance is crucial for helping consumers navigate the complexities of travel regulations and health requirements.
• Ecommerce Growth:
  • Ecommerce has significantly boosted the travel intermediaries' market, with platforms like Trip.com, Booking Holding, and Expedia growing rapidly.
  • These platforms now outweigh the size of the largest airline and hotel groups combined.
• Sustainability and Health:
  • The sustainability of travel is becoming a key factor in consumer decision-making.
  • Health concerns remain a major barrier, with consumers favoring cleaner, safer travel options and destinations with lower exposure to others.

Conclusion

The travel industry is in a state of transformation as it adapts to the new realities post-pandemic. While recovery is expected to be slow and uneven, the digital shift is accelerating, offering new opportunities for brands to rebuild trust and enhance customer experience. The sustainability and health focus are reshaping consumer expectations, and brands that can provide digital assistance, flexible terms, and eco-friendly options will be best positioned for future success.