NEW YORK, July 29, 2021 /PRNewswire/ -- Almost 70% of global consumers plan to travel domestically within the next six months, yet less than ten percent have booked their trips according to a new survey from consulting firm Oliver Wyman.
"The summer travel surge is just the beginning of a recovery that seemed almost impossible a little more than a year ago," said Jessica Stansbury, a partner with Oliver Wyman. "We expect to see a continued desire for leisure travel through the end of the year and travel providers should anticipate a sustained leisure recovery with strong bookings continuing at least through the end of the year."
Leisure travel
Business travel
"Business travel is being driven by fear of missing out," said Bruce Spear, a partner with Oliver Wyman. "The US economy is so hot right now that some executives may feel short term pressure to catch up on business meetings with colleagues and clients."
Key factors for travel
"The industry faces significant challenges, especially around the new Delta variant and a possible overall talent shortage, but demand for consumer travel will push the industry back sooner than we initially thought," said Bruno Despujol, a partner with Oliver Wyman.
About the survey
The third edition of our travel sentiment survey involved nearly 5,300 people across nine countries (Australia, Canada, China, France, Germany, Italy, Spain, United Kingdom, United States), all of whom had flown at least once in 2019; nearly 90 percent had been vaccinated against COVID-19 or are planning to be vaccinated.
The full Edition 3 survey report will be available in August/September. You can also access Edition 1 of our survey from May 2020here and Edition 2 from October 2020here
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With offices in 60 cities across 29 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has more than 5,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities.
Oliver Wyman is a business of Marsh McLennan [NYSE: MMC]. For more information, visit www.oliverwyman.com. Follow Oliver Wyman on Twitter @OliverWyman.
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SOURCE Oliver Wyman