The Skift Travel Podcast
The Remarkable Recovery of the Travel Industry
Aug 3, 2023
Skift research analysts discuss key insights from the State of Travel 2023 report, highlighting the recovery of luxury hospitality and multi-day tour operators. They also explore Hopper's growth in the industry, potential risks, and the impact of AI on the travel sector, including emerging trends like blended travel and the competitive landscape between vacation rentals and hotels.
38:07
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Quick takeaways
- Opportunity for growth in the travel industry as prices have not kept pace with inflation rates, indicating untapped demand waiting to be met.
- Optimism for a significant return of long-haul travel with the Middle East surpassing 2019 levels, presenting potential for growth.
Deep dives
Travel Industry Long-Term Potential Amidst Challenges
Despite challenges faced by the travel industry during the pandemic, there is an opportunity for growth and recovery. For instance, prices of hotels and airlines in the US have not kept pace with inflation rates, indicating potential for growth. With 240 million trips below potential in 2025, there is untapped demand waiting to be met. As global travel accessibility increases, particularly with stronger economies emerging, there is optimism for a significant industry catch-up.
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