A former analyst at V Wealth Management, LLC in Overland Park, Bradley DiTeresi is an experienced finance professional who resides in Olathe, Kansas. During his downtime, Bradley DiTeresi enjoys traveling.
The COVID-19 pandemic harmed many sectors of the global economy. The travel industry, in particular, changed dramatically during the pandemic. Though the industry is recovering, with Oxford Economics forecasting a 28.4 percent increase in the US travel sector in 2022, several trends, such as increased safety awareness and sustainability, emerged in the previous year that continue to affect the industry.
As concern about climate change and its effects grows, travelers have become more conscious of their travel choices, with many looking for more eco-friendly options to reduce their carbon footprint. One study found that 82 percent of those polled want to travel more responsibly due to the pandemic.
According to one study, the ability of a brand to adhere to COVID-19 safety guidelines and restrictions influences 70 percent of travelers’ travel decisions. However, to reduce traveler anxiety, airlines like Emirates have implemented policies such as covering medical expenses of up to $183 thousand and quarantine costs of $122 per day for 14 days for passengers diagnosed with COVID-19 during their trip.