Future of Travel Report: Part 2
In this second instalment of the future of travel blog, we’ll be looking at more insights from our June Future of Travel survey, where we conducted surveys with 1,000+ 18-65+ year olds in the UK and 1,000+ people in Singapore.
It’s fair to say that things are unpredictable in the travel industry right now as things are changing at breakneck speed – just last week the UK announced that in July Britons will be able to travel via ‘air bridges’ to certain countries. So what does this mean for travel moving forwards?
Staycation or Vacation?
Since the UK announcement, travel agents and Eurotunnel have reported a significant amount of summer holiday bookings. Data from our survey suggests that whilst the majority of UK respondents would be happy to book a trip to Europe, a large percentage, 24%, intend on booking a staycation instead. This is also inline with a survey from YouGov which found that Brits are set to spend 29% more on staycations after lockdown.
With much uncertainty still surrounding Covid-19 and travel, it’s unsurprising that there are many people who aren't in a rush to book a trip abroad. UK holiday brands and businesses have the opportunity to attract a new customer and make the most of the domestic market. As it’s often a common misconception that domestic holidays aren’t as exciting as venturing to the beach abroad, brands need to amplify the UK as a destination and demonstrate its unique selling points - the quintessential countryside, rugged coastlines and historic landscapes. I think we can all agree that it has a lot to offer.
Although Singapore has not yet opened up its doors for travel, our survey indicates that a similar sentiment was echoed to the UK. 10% of respondents said they will book a staycation and 53% said they won’t go farther than Asia.
When people do book a holiday price and location are still important
54% of Singaporeans and 45% of Brits indicated price as a main consideration when booking a holiday. With Covid-19 having a significant impact on the world’s economy, it is unsurprising that consumers will be more conscious about price and spending money. However, the travel industry has been hit badly by the pandemic, so they will need to find a balance between incentivising customers and making profit in order to recover.
Location will also be a key consideration for people when booking travel accommodation, indicating that people still want to stay near popular attractions and landmarks when they go away. For Brits the majority of holidaymakers, 41%, desire a beach escape. Hotel and accommodation brands located in prime beach locations will need to invest in their marketing strategy in order to stand out from the noise and capture demand as travel begins to increase once more.