The Future for the Travel Industry is Bright

The Future for the Travel Industry is Bright

A recent survey shows that 75% of American’s that took part in the study said they would keep traveling in 2020. This is a very positive note, especially when compared to the doom and gloom that the travel industry is currently facing. The data is taken from a ‘Travel Sentiment Monitor’ created by luggage storage provider, LuggageHero, who have an ongoing study to keep track of what Americans are feeling about traveling in general.

The results have many other interesting insights including the fact that many people that are going to keep their travel plans intact will do so if their departure and destinations do not have any quarantines. This makes a lot of sense from the passenger’s perspective because quarantines will have associated travel restrictions which will naturally make traveling hard. The report also shows that some people will keep traveling but may change their destinations to avoid risk. For example, 40% of Americans said they would replace international travel with domestic travel. This points to the fact that travelers are overall willing to travel but are being cautious.

Vigilance is further highlighted by how travelers are updating their budgets to suit the risks associated with travel due to the Coronavirus. Only 35% of the people that participated in the survey said they would keep their budget the same. The rest will adjust their travel expenses down to reduce costs and associated expenses.

The LuggageHero report is a great look at what to expect from the future of the travel industry. Most people are willing to travel as long as they have the proper precautions in place. This is something that is not lost on the travel providers who are already adapting to the new norm and updating their services to address customer needs. For example, airlines are giving passengers on planes enough space between seating to help keep their customers compliant with social distancing rules. Hotels are looking at ways to increase hygiene and cleaning services so that guests feel safe. Travel insurance providers are offering upgrades on policies that cover risks associated with the Coronavirus and others like Trawick International are including coverage for COVID-19 in their policies. To learn more about how Trawick International is covering the Coronavirus, visit our COVID-19 FAQ page.

Travel will return to normal, but it will not be the same. Passengers will expect providers to accommodate concerns about COVID-19 while they themselves will take the necessary precautions. This will range from using face masks to buying ‘pandemic’ friendly travel insurance. Some analysts predict that travel insurance purchases will increase because travelers can see the benefit of coverage in a time that has high risks associated with travel. Others even claim that a lot of people that have been given vouchers instead of refunds on airline tickets will cause a rush to utilize those tickets once things get back to normal.

If you are planning a trip in the upcoming few months, get in touch with our expert customer support team to get details on what type of travel insurance will serve your needs here.