Once the pandemic is over and unlimited travel is available again, many people will go on holiday. According to Spanish travel agents, this postponed travel wish will ensure a rapid recovery of the affected travel sector.
This is evident from a survey by the research institute for tourism ObservaTUR. The prospect of being able to travel again freely is a greater motivation for consumers than attractive offers. Spanish travel agencies Carrefour Viajes, IAG7, Viajes / Airmet, Iberia, Renfe-SNCF and the Spanish National Travel Agency (UNAV), among others, are in complete agreement on this.
The increased savings of Spanish households is a further reason cited for confidence in the sector’s rapid recovery. According to the Spanish statistics agency INE, the Spanish have been able to put aside 22.5%, on average, of their disposable gross income as a result of the corona restrictions.
Economic uncertainty slowing down tourism sector recovery
On the other hand, the increased economic uncertainty as a result of the crisis and the persistent fear of becoming infected with the corona virus may actually delay the recovery. The disappearance of part of the tourist infrastructure, and many companies, due to the crisis could also hinder the recovery.
Situation critical for travel companies
Travel operators are among the sectors most affected by the corona crisis, due to all the long-term mobility restrictions imposed. This led to a significant loss of 90% turnover, putting many companies in a critical situation. A temporary unemployment scheme – ERTE – is in place for 50% of all employees in this sector. Representatives of the Spanish Confederation of Travel Agencies (CEAV) reported this after a meeting with Minister Reyes Maroto (Industry, Commerce and Tourism). They urged the minister to come up with “a quick response” to their situation. The solution to include immediate financial assistance to prevent the disappearance of Spanish travel agencies.