Brand USA Newsletter - June 2020

Quarterly Research Webinar

Brand USA’s quarterly research webinars demonstrate our commitment to informing and engaging our valued partners and stakeholders. Now open to the public, these webinars offer key insights and takeaways on the global travel landscape, currently as it relates to COVID-19. The May 15 research webinar, presented by Carroll Rheem, Brand USA’s VP of Research and Insights, provided an in-depth glance at how travel is being approach globally as well as sentiments and projections. A short synopsis of the presentation is below.

While the impact of COVID-19 is still profound worldwide, research shows early signs of downward infection trends for markets like Europe for the first time. Still, long recovery times for those infected with the virus contribute to the increasing rate of active cases.

slide daily new confirmed cases  
 

 

Findings on the economic impact of the pandemic in the U.S project an unemployment rate of up to 8.4 percent over the next few months. The severe downturn in travel activity is estimated to make up nearly 1/3 of job losses in the U.S.

When looking at reasons for not travelling, travel restrictions top the list of concerns for respondents. Other leading factors include concerns about spreading/contracting the virus, as well as financial uncertainty.

Anxiety around international travel remains elevated and findings show how the potential threat to general welfare (financial, health, etc.) directly ties into the decision making of global travelers. “Ultimately as people are making their decisions and their plans, they’re thinking about their risk tolerance,” said Rheem.

Those planning to travel within the next 12-months face many unknown factors that make it difficult to navigate travel commitments, but according to Rheem’s findings, “What we’re starting to see is some of the fog lifting and people now feeling comfortable making some plans and some decisions.” The chart below reflects the month-over-month changes in sentiments from the last time responses were fielded. In the next 12-months, many people plan on traveling precautiously, while another common response is the postponement of travel plans.

 

 

While a lot is unknown about the future of travel, early signs reveal travel will begin coming back this summer in small pockets domestically. But on an international scale, recovery will take much longer in order to give way to new processes, procedures, and overall changes in operations.

 

The full recording of the research webinar can be found here: https://www.thebrandusa.com/events/all/covid-19-research-update