After more than two years of fits, starts and stumbles, the travel industry is resurgent. Flights are at capacity, occupancy and room rates are soaring, and some markets and segments will equal or eclipse their pre-pandemic highs this year. Millions of travelers are venturing out, delighted to finally explore much more than their own backyards.
But as travelers unleash themselves upon the globe, make no mistake: Travel may be back, but it’s far from smooth sailing. Record fuel prices and unchecked inflation could be a drag on recovery, and a labor shortage threatens to play spoilsport with travelers’ ambitious plans. While these headwinds haven’t yet deterred consumers from allocating their travel dollars, people have grown more discerning when assessing their options. The battle for this undaunted and demanding audience will be fiercer than ever.
