Sending out a global sosTravel and tourism experienced an existential crisis in 2020 due to Coronavirus (covid-19). Being covid-19-ready quickly transformed into the new normal, with travel businesses doubling down on hygiene protocols, social distancing measures and providing a customer-centric approach to kickstart recovery.
Innovation is taking multiple forms as digitalisation and sustainability accelerate. New source markets, consumer segments, business models and alternative revenue streams are just some of the strategies being explored to ensure survival.
Drawing on Euromonitor International’s bank of innovation concepts across 100 countries, we review how the travel industry has jumped on innovation as a way to survive the seismic impact of Coronavirus that brought global travel and tourism to an abrupt halt in 2020.
The article is property of Euromonitor International, a market research provider, and can be read in full here.
