Business Consultants Share Predictions on the Future of Travel Businesses [DesignRush QuickSights]

As of January 2021, US spending on travel dropped by 42% which disrupted the entire industry. In the post-pandemic period, business consultants strive to help travel businesses recover with expert advice

NEW YORK - JULY 28, 2021

Travel industry revenue fell to $679 billion in 2020 — a 42% decline compared to 2019. Due to lockdowns and travel restrictions, international and business travel saw the biggest declines, 76% and 70% respectively.

DesignRush, a B2B marketplace connecting brands with agencies, leveraged its 9,000-agencies-strong network for quick insights – or “QuickSights” – on the latest trends for travel businesses to help recover their businesses.

Most business consultants DesignRush has interviewed were optimistic about a relatively quick recovery of the travel industry.

According to Anahit Ghazarayan, product manager in Addevice, after the unexpected decline in 2020, the industry will rebound largely thanks to corporate travel.

• “Though the business travel industry registered a dramatic decline of 52% during the pandemic, it is predicted to have a 21% increase after the rollout of mass vaccination,” said Ghazarayan. “The major changes are driven by the rise of corporate traveling.”

Once recovered, experts claim the industry landscape will be different and advise businesses to study and cater to new consumer needs.

Alex Smirnov, CEO of Software Planet, expects prices of travel services to go up which could reduce the demand at least temporarily.

• “[...T]he market will be very different,.” said Smirnov. “The effects of the crisis will linger, so we should expect widespread transformation. Consumers will see prices increase [as a consequence], which will reduce the number of travelers.”

To help travel businesses find qualified growth partners, DesignRush released the July list of the business consulting companies:

1. Code Inspiration - codeinspiration.pro
2. BS LLC - bsllc.biz
3. Addevice - addevice.io
4. Social Sharks Marketing - socialsharksmarketing.com
5. Software Planet - softwareplanetgroup.co.uk

Brands can explore the top business consulting companies by location, size, average hourly rate and portfolio on DesignRush.

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