As the end of Jobkeeper looms, we’ll likely be hearing stories of the financial woes of those hit hard by the pandemic. But for some lucky folk, it hasn’t all been doom and gloom.
In fact, some people have been able to save up some of their cash. And they just might splurge on their next - long awaited - trip.
As vaccinations are rolled out across the world and we return to a relatively normal way of life, those of who us who have been working from home have likely saved on commuting, eating out and other recreational activities curbed when urged to socially distance.
Couple that with little or no business and leisure travel expenditure, means that those little affected by COVID-19 could have some extra cash in the bank.
According to surmises made by GlobalData from a recovery survey based on fieldwork late last year, the pandemic increased boredom in many consumers, leading to a ‘treat yourself’ mentality, which could result in an increase in holiday expenditure, such as room upgrades, business class flights and higher quality rental vehicles.
This could mean that for their next trip, cashed up, holiday deprived travellers will go bigger and better on more luxurious travel services and products.
This trend could also be driven by a ‘now or never’ mentality, as when travellers have the opportunity to go on holiday, they will spend significantly more and stay for longer in case another situation like the pandemic reccurs.
Although the pandemic has financially impacted many more travellers than not, a considerable portion of the market has navigated through the pandemic without being impacted in this way. This fact should not be overlooked by tourism companies, who need to realise that not all travellers will be wanting a budget-friendly option for their next holiday.
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