Insights from First Webinar in GBTA Collaboratory 2020 Series
“Business travel recovery will be uneven, with innovative and creative companies taking the lead” was just one of the many key takeaways from trendcaster Dr. Shawn DuBravac when he joined GBTA Interim Executive Director Dave Hilfman on the first webinar of the Collaboratory. DuBravac and Hilfman discussed the current state of travel and what the post-pandemic recovery may look like for the industry.
Other key takeaways:
- The main drivers of recovery will be the release of a COVID-19 vaccine and the rate of decline in positive cases, both of which will breathe confidence into businesses and consumers.
- Business stability will be aided by 1) increased fiscal stimulus from government; 2) more uniform and systematic quarantine rules; and 3) the proposed liability waiver that would grant immunity against potentially fraudulent class-action lawsuits to businesses that follow public safety guidelines and take recommended precautions against coronavirus infection.
- Changing prices won’t stimulate demand. Metrics show that travelers prefer going to areas closer to home, signifying that hotels and ground transportation may recover more quickly than airlines. Airlines may experience additional struggles due to international travel restrictions.
- As consumers start traveling again, their preferences may change. Businesses that have paid attention to the shifting needs of travelers during this pandemic, and then capitalize on this opportunity to offer new and innovative solutions, will come out strong on the other side of the downturn.
The Collaboratory webinar series continues over the next 10 weeks and will provide global perspectives, best practices, expert insight, and actionable takeaways to address the issues facing the business travel industry.
Upcoming Webinar Topics:
- August 10 – 14: The Road to Recovery: Travel Industry Update
- August 24 – 28: Procurement / Sourcing: Buyer & Supplier Relationship
- August 31- September 4: Stakeholder Management: Travel Policy
- September 14 – 18: Virtual Payment and Touchless Travel Experience