As a result of the COVID-19 pandemic, demand for traveling dropped off significantly, especially in the US and UK, two of the hardest hit countries. The situation is exacerbated by a halt in business traveling and cruise ships worldwide.
Our data is based on the assumption that lockdown restrictions ease in H2 2020 and demand for traveling will likely still be weak until a vaccine is available, which is estimated to arrive in H2 2021. This being said, a full recovery will likely not happen until 2022.
"As summer breaks approach, US consumers’ appetite for travel is starting to increase. But fears of infection, foreign travel restrictions and the desire to avoid a quarantine will keep most of those who pack their bags closer to home," said eMarketer senior analyst Jasmine Enberg. "Domestic travel, particularly car trips, will be the most popular form of leisure travel this year, and that will depress digital travel sales in 2020 as domestic trips tend to cost less than international travel."
“Tighter restrictions than the US and vastly diminished post-pandemic options has led to a general wariness among the UK population when it comes to travel,” said eMarketer senior analyst Bill Fisher. “Even where there are green shoots, sales values are likely to be diminished as holiday-makers eschew international travel through 2020 in favor of ‘staycations’ within the UK.”