“Experiences are more important than possessions.” This has become a mantra of Asia’s tourism industry as it seeks to understand how travel behaviors may evolve post-pandemic.
The underlying precept is that travelers may want to escape to nature, to experience freedom in serene landscapes rather than spend time shopping when travel bans are eventually lifted. Tourists radiating away from urban centers could dampen the much-hoped-for revival of travel retail spending.
Yet, predicting future trends in Asian travel is risky. Having been unable to fly beyond borders for 15 months and counting may mean that caution and safety remain paramount, at least initially. Alternatively, grounded travelers may take to the skies in large numbers as soon as the airport gates are opened.
But when travel does resume, will “revenge spend” travelers stimulate visitor economies once more? And how should businesses prepare? At the same time, has skyrocketing pandemic-era growth in eCommerce altered travel retail forever? If so, what new spending patterns could emerge?
Amid the current uncertainty, here are five factors to consider:
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