The Travel Industry is a vast and dynamic sector which has already navigated a series of dramatic global of events during the 21^st century.  The September 11^th 2001 attacks rocked travel at the start of the new millennium while more recently the Covid 19 pandemic led to a 75% reduction in the value of the global industry.  It’s good to see that travel has now recovered to pre-pandemic levels but of course while security and health remain constant priorities, the industry is facing a new set of challenges. 

The events noted above show the sensitivity of the industry to economic fluctuations, political instability and other geopolitical risks.  However, technology has also driven immense changes in travel over the last twenty years.  This is sure to continue as developments in AI and personalisation help to meet the expectations of technically smart consumers.

Changes in people’s behaviour demand dynamic responses across the sector.  Younger consumers are seeking to travel more but are also expressing a growing desire for ‘experiential’ travel – seeking unique authentic experiences rather than traditional tourist offerings.  The growth of solo travel and ‘workations’ are related trends.  Climate change concerns are further influencing consumer choices and the industry has to address this reality at the same time.  On the supply side, the pandemic drove dramatic changes for the travel workforce, today labour shortages and the need to rebuild the workforce are a continuing challenge for the sector.