Revolut’s new super app, ‘Stays’, could threaten the profitability of leading travel brands across Europe and the US, says GlobalData. The leading data and analytics company notes that the app has beat leading brands in the move towards end-to-end booking solutions, which comes right at home with travel-hungry customers looking for deals online. British-based digital banking app Revolut’s new service allows users to book travel accommodation and receive up to 10% in cashback. It is Revolut’s first non-financial or insurance product launch. Johanna Bonhill-Smith, Travel & Tourism Analyst at GlobalData, comments: “Revolut’s app allows travelers to book accommodation ranging from B&Bs to luxury lodges, as well as offering payment end solutions and currency exchange rates wi...
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Private aviation companies are making a beeline for executives wary of flying commercial to business meetings due to a limited offering of direct flights, as corporate travel eases back this fall after a pandemic-induced slump. Private air traffic has rebounded above 2019 levels, helped by wealthy leisure travelers avoiding commercial earlier in the pandemic to avoid contracting the virus or due to fewer direct flights. FILE PHOTO: An interior view of Bombardier's Global 7500, the first business jet to have a queen-sized bed and hot shower, is shown during a media tour in Montreal, Quebec, Canada. REUTERS/Christinne Muschi Now, some charter companies are trying to extend that advantage to corporate travel, with scheduled flights to some business hubs still below 2019 levels despi...
Read MoreThe International Air Transport Association (IATA) released the IATA World Air Transport Statistics (WATS) publication with performance figures for 2020 demonstrating the devastating effects on global air transport during that year of the COVID-19 crisis. 8 billion passengers flew in 2020, a decrease of 60.2% compared to the 4.5 billion who flew in 2019Industry-wide air travel demand (measured in revenue passenger-kilometers, or RPKs) dropped by 65.9% year-on-yearInternational passenger demand (RPKs) decreased by 75.6% compared to the year priorDomestic air passenger demand (RPKs) dropped by 48.8% compared to 2019Air connectivity declined by more than half in 2020 with the number of routes connecting airports falling dramatically at the outset of the crisis and was down more than 6...
Read MoreThe World Travel & Tourism Council (WTTC) launched a major new report which signals how the global Travel & Tourism sector can help eradicate human trafficking. The report is released with support from the Carlson Family Foundation, and builds on WTTC’s Human Trafficking Taskforce, which was launched in 2019 at its Global Summit in Seville, Spain. With its report ‘Preventing Human Trafficking: An Action Framework for the Travel & Tourism Sector’, WTTC aims to strengthen cooperation across stakeholders and share best practices to raise awareness about how the sector can, and does, make a difference, to proactively address this global crime. The report details an action framework to tackle human trafficking, around four main pillars: Awareness, Education & Train...
Read MoreDestination Capital (DC) has signed a collaborative arrangement with the World Tourism Organization (UNWTO) of the United Nations to support the rejuvenation of the hotel industry. The arrangement supports the relationship DC has with the International Finance Corporation (IFC) to promote investment in green and sustainable tourism accommodation and to stimulate re-employment, particularly in the wake of the COVID-19 pandemic. The collaboration between UNWTO and Destination Capital is based on DC’s adoption of best practices aimed at reducing carbon emissions and operating hotels in a manner consistent with IFC’s environmental and social criteria. Against this backdrop, DC acquires and repositions freehold hotels of 150-250 rooms in Thailand and across South-East Asia with the aim ...
Read MoreThe International Air Transport Association (IATA) announced passenger demand performance for June 2021 showing a very slight improvement in both international and domestic air travel markets. Demand remains significantly below pre-COVID-19 levels owing to international travel restrictions. FILE PHOTO: An airplane prepares to land at Cointrin airport in Geneva, Switzerland. REUTERS/Pierre Albouy As comparisons between 2021 and 2020 monthly results are distorted by the extraordinary impact of COVID-19, unless otherwise noted, all comparisons are to June 2019, which followed a normal demand pattern. Total demand for air travel in June 2021 (measured in revenue passenger kilometers or RPKs) was down 60.1% compared to June 2019. That was a small improvement over the 62.9% decline rec...
Read MoreThe World Travel & Tourism Council (WTTC) has launched a major new report which reveals how destinations can grow responsibly, using the Destination Stewardship model. The report was launched in partnership with the Travel Foundation and the European Tourism Futures Institute (ETFI) at NHL Stenden University, in the Netherlands. ‘Towards Destination Stewardship: Achieving Destination Stewardship through scenarios & a Governance Diagnostics framework’ lays out how destinations can balance the needs of visitors and residents, with the involvement of both the public and private sector. Destination Stewardship is based on the responsible use of shared or ‘common pool’ resources, which provide diminished benefits if each individual participant or group pursues their own se...
Read MoreInternet of Things (IoT) technology can help to ease traveler concerns regarding personal health and wellbeing, while allowing travel and tourism companies to collect a wealth of data for a range of internal and external benefits, according to GlobalData. The leading data and analytics company notes that this technology will have a bigger role to play in post-pandemic travel as a result. GlobalData’s latest thematic report, ‘IoT in Travel & Tourism’, states that wearable tech devices at airports and other transport terminals can allow travelers to practice correct social distancing procedures and keep to other health and safety compliance guidelines, which stems the spread of COVID-19 and keeps travelers feeling safe. Ralph Hollister, Travel and Tourism Analyst at GlobalData...
Read MoreThe International Air Transport Association (IATA) has called on governments to take action to address the high cost of COVID-19 tests in many jurisdictions and urged flexibility in permitting the use of cost-effective antigen tests as an alternative to more expensive PCR tests. IATA also recommended governments adopt recent World Health Organization (WHO) guidance to consider exempting vaccinated travelers from testing requirements. According to IATA’s most recent traveler survey, 86% of respondents are willing to get tested. But 70% also believe that the cost of testing is a significant barrier to travel, while 78% believe governments should bear the cost of mandatory testing. “IATA supports COVID-19 testing as a pathway to reopen borders to international travel. But our suppo...
Read MoreThe biggest crisis in the history of tourism continues into a second year. Between January and May, international tourist arrivals were 85% below 2019 levels (or a 65% drop on 2020), UNWTO data shows. Despite a small uptick in May, the emergence of COVID-19 variants and the continued imposition of restrictions are weighing on the recovery of international travel. Meanwhile, domestic tourism continues to rebound in many parts of the world. The latest UNWTO data shows that over the first five months of the year, world destinations recorded 147 million fewer international arrivals (overnight visitors) compared to the same period of 2020, or 460 million less than pre-pandemic year of 2019. However, the data does point to a relatively small upturn in May, with arrivals declining by 82% ...
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