InPhocus, episode 7 - Travel crises often ignite revolutions in the industry (sorry, not this time)
- April 2020
- Phocuswright Research
The coronavirus is going to change travel, perhaps not forever but certainly for a considerable amount of time.
History shows us that the travel industry has a track record of seeing huge changes to the fabric of how it works whenever something hits it in such a major way.
Post-9/11 saw a rapid maturing of the online players - quickly giving them a sizeable control of the market.
The financial crash of 2008-2009 paved the way for Airbnb and its spearheading of the sharing economy model, which has since changed hospitality irrevocably.
The current crisis will undoubtedly alter the traveler's experience of airports, accommodation, airlines and activities - but will it inspire any change in the models that underpin the industry and its relationships?
Perhaps not this time, as we discuss in the latest episode of InPhocus with Phocuswright Research creator Lorraine Sileo, who has heaps of experience of seeing how the industry navigated itself through many a rough time over the last 25 years.
Sileo joins our regular hosts, Charuta Fadnis of Phocuswright and PhocusWire's Kevin May.