Road to Recovery: Survey Says Travel Companies Feeling Optimistic

A report issued the other day by the Global Business Travel Association shows signs of recovery for the travel sector.

The study, conducted April 17-22, found that most companies are planning a recovery for 2020, and that one in three companies are planning for a recovery in three months or less.

The association received responses from nearly 1,600 member companies around the world.

“The global business travel industry remains at a standstill, but we are finally beginning to see some light at the end of this very long tunnel,” said GBTA Chief Executive Officer Scott Solombrino. “GBTA members are planning their post-coronavirus recovery plans and most expect to be operational in 2020. This is a positive sign. The majority of GBTA member companies expect domestic business travel to resume in the next 2-3 months and most expect employees will be willing to travel. We have waited a long time for there to be optimism around the pandemic in our industry, and it should continue to grow as we get closer to halting the spread of this disease.”

One-third (35%) of GBTA members say they plan for their company’s post-coronavirus recovery plan in three months or less, while a quarter (27%) say they plan for a post-recovery in 6-8 months. In addition, only one in ten are planning for recovery in 2021, while one in four (28%) report they do not know.

Among GBTA members who report their company has canceled at least some domestic business trips, six in ten (62%) say they expect domestic travel to resume in the next 2-3 months. One in five report they expect domestic travel to resume in the next 6-8 months (18%) or are unsure (19%).

There appears to be more faith in Europe than in North America at this point.

GBTA European members (74%) are more likely than members based in North America (58%) to expect domestic business travel will return in 2-3 months. In addition, members based in North America (21%) are more likely to be unsure when domestic business travel will resume compared to members based in Europe (12%).

Eight in ten European members expect international business travel will resume in 2-3 months (33%) or 6-8 months (47%). Two-thirds of GBTA members in North America expect international travel to resume in 2-3 months (26%) or 6-8 months (38%).

TSA NUMBERS AND UNITED AIRLINES OPTIMISM

Meanwhile, the U.S. Transportation Security Administration’s count of passenger reached 171,563 on Friday May 1, the highest total since Sunday March 29, when the total was 180,002. The TSA passenger count has been above 110,000 for eleven consecutive days, including Friday, after being below that total for 17 consecutive days April 6 through April 22.

The numbers are still quite low, but they’re moving in the right direction.

In a story posted at Forbes.com, United Airlines President and CEO-designate Scott Kirby said there’s clearly pent-up demand for air travel.

“As we look longer term, we see some evidence of pent-up demand,” Kirby said. “For example, searches for 2021 spring break travel on our website are actually higher this year than they were at this time last year. But we don’t expect many of those to turn into real bookings or travel until the virus is sufficiently contained and the rhythms of daily life become routine again.”