WTTC & Trip.com | November 26, 2021
The World Travel & Tourism Council (WTTC) and Trip.com Group launched 'Trending in Travel', a new report that shows the latest trends traveller behaviour and future booking patterns in the wake of COVID-19.
WTTC, representing the private Travel & Tourism sector, joined forces with leading global travel service provider, Trip.com Group, and its major consumer brands Trip.com, Ctrip and Skyscanner, to analyse consumer trends shaping the recovery of the Travel & Tourism sector.WTTC's latest projections show strong growth in international spending for 2022 and beyond, projecting to overtake domestic spending in 2022, as more destinations ease restrictions and vaccination rates continue to rise.
Following a 69.4% decline (2020), global international spending on travel is set to rise by 9.3% in 2021, and significantly by 93.8% in 2022.
The inaugural report also reveals how severe and confusing travel restrictions around the world drove a significant rise in domestic tourism, with a surge in domestic hotel bookings of more than 200% on Trip.com's platform this year compared to 2019.
Since the start of the pandemic, mobility restrictions have hindered international travel and, although domestic travel will provide a much-needed boost to the sector, WTTC says the return of international travel is critical to rebooting the global economy.
The report focuses on booking trends, consumer considerations, and consumer profiles. It also features examples of markets whose resilience has provided a platform for the recovery of the Travel & Tourism sector.
The report shows how COVID-19 has changed the way people travel; younger travellers are the first to return to travel; increased demand for longer stays; the importance of fee-free cancellations and the demand for high levels of health and safety checks.
To avoid travel restrictions, travellers are seeking secondary destinations, away from traditional holiday spots, as their destination of choice. This preference positively impacts local communities and livelihoods. According to Trip.com's hotel booking data, Abu Dhabi (UAE) Chiang Mai (Thailand), Doha (Qatar), Florence (Italy), and Frankfurt (Germany) were the most popular secondary destinations in their respective countries in 2021.
The report goes on to show that, according to Ctrip data, bookings for 'the great outdoors' will predominate in the short and medium term. In China – one of the world's largest travel markets - nature-related attraction bookings have increased by 265% in the first half of this year compared to the same period last year.
The pause in travel has also heightened consumers' eagerness to travel more sustainably with more than eight out of 10 (83%) global travellers saying they would make sustainable travel a priority in the future.
Reinforcing this long-term trend, since its launch in 2019, the report shows 68 million travellers have opted to book a "Greener Choice" labelled flight on Skyscanner, a comparatively lower-carbon flight choice.
According to the report, 70% of travellers in many major countries such as the U.S., Spain, the UK, Canada, and Japan plan to spend more on travel in 2022 than they have in the last five years, including 2019 - one of the best years on record for Travel & Tourism.
"It is clear people are really looking forward to travelling again. Consumers are curious, they are looking at new destinations, 'the great outdoors' and travel that benefits the places and people they visit. As travel and tourism represents over 10% of global GDP this is good news for jobs and economies."
-Julia Simpson, WTTC President & CEO
The impact in some countries has been devastating for local communities and this report shows that business is returning in earnest.
"Travellers around the world have shown their eagerness to travel, whether limited to domestic travel or able to cross borders, we see a huge amount of pent-up demand steadily being released."
-Jane Sun, CEO of Trip.com Group
To better evolve with the recovery we must understand travellers, and as an industry adapt to emerging trends.
Latest WTTC research shows the global recovery of the Travel & Tourism sector is picking up pace with the sector's contribution to global GDP projected to rise by 30.7% in 2021 and 31.7% in 2022.
For more information on the Trending in Travel: Emerging Consumer Trends in Travel & Tourism in 2021 and Beyond report, download the full report here.
About Trip.com Group
Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services, and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centers. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission "to pursue the perfect trip for a better world".For more information, please visit: group.trip.com
The World Travel & Tourism Council is the global authority on the economic and social contribution of Travel & Tourism. WTTC promotes sustainable growth for the Travel & Tourism sector, working with governments and international institutions to create jobs, to drive exports and to generate prosperity. Council Members are the Chairs, Presidents and Chief Executives of the world's leading private sector Travel & Tourism businesses.For further information, please visit: WTTC.org
FXAIR | November 09, 2020
FXAIR, the premium on-demand charter provider that launched in July as the newest member of the Directional Aviation family of companies, has made two key additions to its senior leadership team. Assuming the role of Senior Vice President of Sales is Robert Shaplen, who previously held the same position at PrivateFly and also previously served as an award-winning advisor at XOJET. Michael Hall, who over the past decade has held senior sales roles for a variety of Directional Aviation companies, is transitioning from sales to serve as Senior Vice President of Operations.
FEATURES AND ADVICE
Travel Insured International | October 06, 2021
Travel Insured International has launched its new, cruise-specific travel protection product, Cruise Trip Protector. As part of Travel Insured's Tour Protector series, this product is designed to meet the needs of today's cruise passenger.
Along with pre-departure benefits like Trip Cancellation and optional Cancel for Any Reason, this plan offers post-departure coverages like Single Supplement, Missed Tour or Cruise Connection, and Trip Delay. Cruise Trip Protector also includes additional benefits for recent requirements by some cruise providers for extra coverage related to Accident & Sickness Medical Expense and coverage for Medical Evacuations.
Recent Cruise Requirements: Medical Expense and Evacuation Coverage
As the travel industry continues to adapt, it's important for travelers to understand the safety requirements of each cruise line. Some cruise providers are mandating travel insurance for unvaccinated passengers setting sail from Florida and requiring each unvaccinated guest to provide proof of insurance with Accident and Sickness Medical Expense coverage and Emergency Medical Evacuation coverage that meets certain minimum standards.
Travel Insured's Cruise Trip Protector provides travelers with up to $50,000 in Accident & Sickness Medical Expense coverage and up to $250,000 in Medical Evacuation coverage.
Other Cruise-Specific Benefits
As a niche travel product, Cruise Trip Protector includes valuable, relevant insurance benefits just for cruisers. Missing a cruise connection, facing delays or diversions, and issues related to single supplement pricing are all unique challenges for which the plan benefits can provide assistance. Cruise Trip Protector also features the optional Travel Inconvenience benefit which pays a stated amount per stated inconvenience.
Missed Tour or Cruise Connection: Applies if you miss your cruise departure because your arrival at your trip destination is delayed for at least three hours. This benefit reimburses up to $500 in certain unplanned losses and expenses, including the additional transportation cost to join your trip if your delay is caused by a covered reason.
Single Supplement: This benefit may apply if you experience a change in the per person occupancy rate for your pre-paid, non-refundable lodging. If a person booked to share accommodations with you cancels or interrupts his/her trip due to any of the covered reasons applicable to Trip Cancellation or Trip Interruption and you do not cancel or interrupt your trip, you could be eligible for reimbursement up to the stated maximum benefit amount.
Optional Travel Inconvenience: This optional benefit upgrade includes 15 covered reasons. This pays a fixed amount per stated inconvenience up to a benefit maximum. Some of the reasons include:
Cruise Disablement: Applies if you are confined for more than 6 hours on the cruise ship without one or more of the following essential provisions: power, food, water, or restroom facilities or due to a crime that occurs on the cruise while on a Trip.
Cruise Diversion: Applies if your cruise does not stop at a scheduled port of call due to inclement weather, a natural disaster, a hijacking, an unannounced strike, a civil disorder or riot, a Terrorist Incident, a mechanical breakdown or a medical incident involving another passenger on the ship.
"Travel insurance is no longer one-size-fits-all, Consumers want to pair their trip with the right coverage, not necessarily a product designed as a catch-all with benefits that may not apply to them. We created this product to provide cruisers with a combination of our core travel protection products and new benefits that are relevant to their specific trip type."
says Travel Insured's VP of Strategic Partnerships, Isaac Cymrot.
Cancellation Coverage for the Unexpected
Travelers can plan their cruises with confidence knowing there are 25 covered reasons for Trip Cancellation included under the Cruise Trip Protector plan. This includes a Trip Cancellation peril for insufficient or excessive water levels regarding river cruises.
This product also features Cancel for Any Reason coverage as an optional benefit upgrade. Each cancellation benefit has different requirements and reimbursement amounts.
Trip Cancellation: The Trip Cancellation benefit is included in the base Cruise Trip Protector coverage. Cancelling your trip for a covered reason any time prior to the scheduled departure date can reimburse up to 100% of your pre-paid, non-refundable trip cost.
Water Level Cancellation Peril: This peril may apply if your river cruise is unable to operate or complete its scheduled itinerary due to insufficient or excessive water levels along the scheduled cruise itinerary route. Proof of the river cruise diversion must be documented by the Travel Supplier
Optional Cancel for Any Reason (CFAR): CFAR can be added to the Cruise Trip Protector at an additional cost to cover cancellations outside of what is covered under the Trip Cancellation benefit. CFAR can reimburse up to 75% of prepaid, non-refundable trip cost if you cancel your trip for any reason at least 48 hours prior to your scheduled departure date. CFAR must be purchased within 21 days of the date your initial deposit made toward your trip is received. Additional terms apply.
About Travel Insured International
Founded in 1994, Travel Insured International (TII) is a leading travel insurance provider, offering quality worldwide travel insurance protection for more than 25 years. Products include Emergency Assistance and Evacuation, Trip Cancellation and Trip Interruption Protection, Baggage Insurance, Airline Ticket Protection, and plans that include medical benefits. TII is part of the Crum & Forster Accident & Health Division. Rated A (Excellent) by A.M. Best (2020), Crum & Forster is a national property and casualty group of insurance companies owned by parent company Fairfax Financial Holdings Limited. Since 2000, Crum & Forster Accident & Health has offered a robust portfolio of specialty insurance and reinsurance products, including medical stop loss and excess, specialty risk, pet, travel and other voluntary and affinity benefits.