Jamie Biesiada
Is the worst of the coronavirus crisis in the rearview mirror for travel agencies?
That's a question that no one could answer with certainty, but new data from public relations and marketing agency Development Counsellors International (DCI) suggests that could be the case, if the pandemic doesn't worsen going forward.
DCI surveyed 362 travel advisors from the U.S. and Canada in May, a follow-up to a March survey, and the results indicate that travel agencies are fielding fewer cancellations of existing bookings and seeing smaller declines in future bookings.
According to the survey results, in March, 90% of survey respondents said they were fielding cancellations. That number came down to 72% in the May survey. Additionally, in March, 82% of respondents said they were seeing a decline in future bookings in 2020, down to 68% in May.
"Travel agencies are suffering as this period has been far from 'business as usual,'" DCI wrote in the report highlighting the survey results, "A new view: Travel advisors looking beyond Covid-19." "Fortunately, compared with the March survey, this most recent study finds fewer travel advisors reporting cancellations of existing bookings and declines in future bookings."
That, DCI says, could indicate the worst is past for most agencies.
"Still, destinations and travel advisors need to be prepared for a prolonged recovery or even a second wave of cases if infections spike again," DCI said.
DCI's March and May surveys also asked advisors what they've been spending their working hours doing throughout the crisis. They were able to pick multiple answers.
In March, the majority reported they were busy with rescheduling client bookings (84%) and reassuring clients booked on existing trips (76%), followed distantly (35%) by continuing education like webinars and specialist programs.
Many industry executives have encouraged travel advisors to use their downtime for educational purposes, and DCI's May survey offers some evidence they are doing just that.
In May, many (71%) were still rescheduling client bookings and nearly half (46%) were reassuring clients booked on existing trips, but the number of advisors spending time on continuing education skyrocketed to 70%.
Additionally, 34% of respondents in May said they were spending time doing online destination research, compared with 26% in March.
"This is a great testament to the travel industry's resilience, as advisors are looking ahead and continuing to invest in the future during such a challenging time," DCI said.