Megatrends in traveling has changed – Covid-19 was the wake up call!
I researched a collection of articles published by Skift that revealed the megatrends of 2022 and how these trends have affected to guidelines of tourism. Skift’s Megatrends is annual report for forecasting top trends. I chose three articles from the publication that interested me the most. Skift is news site for travel industry. They also provide market research and marketing services to the travel industry. (Skift, 2023.)
I chose this publication because I think this subject is very current in this world situation and also raises a lot of different opinions. Rafat Ali, founder and the CEO of Skift, ask “So, what happens now” in the intro. He also states that trends that were the rise before the covid pandemic are now things of the past. Those trends were for example overtourism and Chinese traveler’s enthusiasm towards Europe. (Megatrends defining travel in 2022, 6-7.) Even though this report is over one year old all the topics are still very relevant in my opinion.
Uncertainty modifying companies’ business strategy
According to the article companies need to be even more flexible in today’s market. Crises, like 9/11, SARS, MERS and covid-19 has affected to companies’ revenue and financial planning worldwide last decades. Especially international aviation business was struggling a lot due to covid and recovery is taking its time. (Megatrends defining travel in 2022, 9.) I think that currently most affecting crisis in the world is climate change which affects to every human being and company. Business versatility and innovations keep the business afloat and enables growth in difficult times.
CEO´s of big companies in travel industries like Trivago and Booking Holdings states that flexibility and readiness to changes are vital. Companies need to be prepared for everything and no assumptions can be made. Winners are the companies who are ready to operate in multiple business sectors. (Megatrends defining travel in 2022, 10.)
I would say companies like these are the ones who operate in different platforms (online, offline, face-to-face) and also business versatility and innovations keep the business afloat and enables growth in difficult times.
Global warming causing climate resilience in business
According to the article, “Climate Resilience Is the New Return on Investment” by Matthew Parson, last year was significant globally in accepting the climate crisis. Climate change movement take a big step in 2021. Summits like G7 and COP26 was held and strong message was sent to everyone: green gas and carbon emission need to be reduced. Many companies are working towards greener future and also traveller’s worldwide are demanding eco-friendly products and services. (Megatrends defining travel in 2022, 13.)
For me it seems like green values are recognized globally and many big companies make their own sustainable plans and try to convince their customers with climate-resistant options for travel, accommodation, and consumption. To enjoy snowy winter in Finland also in the future we all have to act now. There are already many signs towards climate warming especially in Southern Finland. It’s not sure to enjoy white Christmas in Helsinki as it was in my childhood.
Summary
The whole listing of these megatrends was really interesting but subjects and language used was very scientific. I chose top3 articles that impacted me the most personally and from the course objective. In my opinion the most affecting megatrends from the travel business view are:
- uncertainty is the new normal
- Sustainability gives competitive advantage
- be flexible and early adopter
As a summary I would say that people (communities), environment and business are all linked together. Today you cannot make business without taking care of environment and locals at the same time.
All the reasons listed above makes me think. When everything becomes more expensive in travel industry, it make me wondering if tourism will eventually become only luxury for the rich.
Source. Skift Megatrends 2022. Megatrends defining travel in 2022. Link. https://skift.com/megatrends-2022/#/. Referred 27.1.2023.
