The global travel supply chain is under tremendous pressure as world arrivals forecast to decrease by 50 percent by the end of 2020, according to Euromonitor International, a global market research firm.
Accelerating travel innovation after coronavirus in the latest Euromonitor International study uses innovation to speed up recovery from the reality of worldwide recession and new virus waves.
According to a survey, the European Union is expected to enjoy a substantial turnaround of real GDP growth of 5% and a rise in income of 76% next year.
A significant part of the recovery process will be sustained tourism, with countries that are trying to achieve a net positive effect for local communities, in particular in overtourism destinations such as Barcelona.
In Asia-Pacific, recovery is estimated to be comparatively quicker in three years than in Western Europe.
Innovative strategies to address many consumer needs, including consumer travel, mobility, and sustainable management of goals, have already thrived, at home to the largest population in the world of Internet users.
This pattern will continue rapidly after the pandemic as mobile sales account for 62 percent of all APAC online sales this year. By 2025, online travel transactions will take place in Singapore with average annual spending of US$ 1,200 per person. (United States $1 = RM4.11)
In the Americas, it is projected that 20% of CAGR receipts in 2021-2025, up from 12 percent for CAGR, will be received in Panama and Argentina.
To achieve a safer, more sustainable, and seamless travel experience, digitation is accelerated by the use of a wide range of new travel concepts, including AI, automation, blockchain, and the internet of things.
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