PhoCusWright founder and serial board director Philip C. Wolf suggested travel companies should “tear up the old budgets and roadmaps, and to create new budgets, roadmaps and forecasts”, in a comprehensive webinar: “Planning for what will come, not for what was” on 2 July, 2020.
Indeed, the corona pandemic is shaking the foundations of the global tourism industry more than any previous crisis. The post Corona tourism world will be a completely new one – with tectonic shifts on the demand and supply sides that have not yet been imaginable. This was the kick off session of the new ITB Virtual Conventions, outlining “the big picture of global post corona tourism”. In the coming weeks and months, regular ITB Virtual Convention events will analyse and present the most important market trends and the most valuable practical tips for tourism providers.
Prof. Dr. Roland Conrady, Scientific Director ITB Berlin Convention, Worms University of Applied Sciences hosted the session, in which Philip Wolf said “the past is becoming an increasingly poor predictor of the future”.
The two experts discussed ways in which consumer behaviour is likely to change in relation to sustainable tourism. They examined regional differences and the impact of Covid-19 on hotel operators, airlines, and other market players.
Prof. Conrady began, “Global tourism is in its most serious crisis since WWII. In other words, for 75 years. We had been used to regular growth rates of more than 5% per annum, and the number of international tourists grew from 25 million in 1950 to 1.4bn in 2019. Like few other industries, we are now in a deep existential crisis. It is now quite clear that there will be no quick return to normality. In fact, it is becoming increasingly clear that we can expect a completely new...