Ever heard of "revenge travel"? ✈️ It's those international or bucket list trips that were delayed by the pandemic. After losing 75% percent of its value in 2020, the travel industry is set to make a full recovery by the end of the year. We’ve done a deep dive into the latest travel trends and how industry players can adjust accordingly. https://mck.co/3RX9KMc
Absolutely! The concept of "revenge travel" has become a significant trend as people are eager to embark on the international or bucket list trips they had to postpone due to the pandemic. The travel industry’s projected full recovery by the end of this year is a testament to this pent-up demand.
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AI is transforming the travel industry, enabling hyper-personalized experiences and enhancing customer interactions. With #GenerativeAI and #MachineLearning, companies can optimize operations and create unique customer journeys. The challenge lies in interpreting data accurately and making informed decisions. Exciting times ahead! #DigitalTransformation #CustomerExperience
Whoever have coined the word 'revenge travel' should have phrased it as 'redemption travel'...... India PM Modi's last trip to Russia was in 2019, when he visited the far east city of Vladivostok. India and Russia are both members of the BRIC!...... 'Revenge travel' in progress! (July-2024) India's PM Modi to visit Russia for the first time since the Ukraine war, so expect a very well-thought-of "statement" that consulting companies may need to emulate.........
comment dire 😀
McKinsey & Company, The concept of "revenge travel" resonates deeply as we emerge from global challenges, embracing those long-awaited adventures and discoveries. As the travel industry rebounds, focusing on domestic destinations seems paramount, ensuring accessibility and rediscovery close to home. It's inspiring to see emerging regions like India, Southeast Asia, and Eastern Europe flourishing in outbound tourism, offering fresh experiences alongside established favorites. This shift not only enriches our travel choices but also supports global tourism recovery, fostering a sense of unity and exploration. Whether near or far, these journeys symbolize resilience and the joy of exploration, inviting us all to rediscover the beauty of our world anew.
With the steep rise in travel prices and ever declining customer service, the “revenge travel” won’t last that long!
Travel companies that can effectively cater to both these distinct desires for Boomers and GenZ by offering curated international experiences and hassle-free domestic packages – stand to win big in this evolving market.
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Very helpful!
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1wTravel has certainly rebounded since Covid with my 2020 group tours to Ireland on hold for 2 years so when Ireland opened up, I don’t think the Country was ready for the strong demand which has continued for the last two years so I’ve never been busier with a strong dollar against the Euro getting more bang for the buck. It may cost more to ✈️ to Ireland & Europe so for every $ spend with Caddie Tours, they are spending 2.5 times that to boost the local economy so it’s a win win for everybody!!