Dear Partners,

Thank you for taking the time to participate in this survey, especially during this difficult time for us and our companies. The results below are not the most positive. It seems that 2020 will be a lost year for travel.

It does give us however some hope for 2021, which even though it may start small, I hope will do some work in restoring confidence in the travel industry once more. No doubt, our industry will be changed after the recent events, but in the long run I am certain it will come out stronger!

Check the results below and feel free to contact me at info@drakosdmc.com if you have any questions.

Again thank you to all those who have participated.

 

Best Regards,

Orestis Aristides

Managing Director

Drakos DMC Cyprus

 

 

PART ONE: TIMEFRAMES

Flights:

On average, respondents believe that the COVID-19 pandemic will start subsiding globally by September and flight bans will start easing in the same month. However flights will only reach 50% of their 2019 levels until January 2021 and only 75% until June 2021.

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Travel:

Corporate travel looks like the first to rebound reaching 50% (of 2019 levels) by February 2021, followed by Luxury and Sport travel in March. By April 2021, Cultural, Special Interest, Educational and Honeymoons are still expected to be at 50% of 2019 levels. Incentives and Conferences are expected to rebound to 50% on average by May 2021. Almost all categories are expected to reach 75% of pre-covid levels by the second half of 2021. Cruises are expected to take the biggest hit with only a 50% recovery in the Summer of 2021.

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For the statistically inclined: most answers were consistent as you can see from the graphs above, however there is an average variation in the answers of +/- 10 weeks. Meaning that if the average answer is March 2021, it could vary anywhere from January to May.

 

PART TWO: MARKETS AND DESTINATIONS

The markets of Australia, East Asia and Northern Europe are expected to recover faster than the rest; and may start travelling sooner. A similar trend can be seen in destinations; as more “safe” destinations may be preferred. We expect that how governments will react in these regions (both in terms of the pandemic and in terms of economic measures) will play a big role in how they will recover.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RESPONDENTS
We had a total of 88 respondents to date from 33 countries and various segments of the travel industry.
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Most of these are consistent and we do not see a significant change as more respondents send their replies. However sentiments may change in the next 2-3 months and we may follow up with a second survey.

 

SUMMARY OF ANSWERS

QUESTION MOST COMMON ANSWER AVERAGE DATE WEEKS +/-
When do you believe the pandemic will start subsiding globally? SUMMER 2020 16-September-2020  7.47
When do you believe travel and flight bans will start easing? SUMMER 2020 09-September-2020  6.81
When do you believe flights will reach 50% of equivalent 2019 levels? AUTUMN/WINTER 2020 28-January-2021  11.91
When do you believe flights will reach 75% of equivalent 2019 levels? SPRING SUMMER 2021 01-June-2021  12.27
When do you believe general travel will reach 50% of equivalent 2019 levels? AUTUMN/WINTER 2020 13-March-2021  12.34
When do you believe general travel will reach 75% of equivalent 2019 levels? SPRING SUMMER 2021 28-June-2021  12.17
When do you believe LUXURY travel will reach 50% of equivalent 2019 levels? AUTUMN/WINTER 2020 12-March-2021  12.63
When do you believe LUXURY travel will reach 75% of equivalent 2019 levels? SPRING SUMMER 2021 29-July-2021  11.90
When do you believe FAMILY travel will reach 50% of equivalent 2019 levels? SPRING SUMMER 2021 03-April-2021  12.33
When do you believe FAMILY travel will reach 75% of equivalent 2019 levels? SPRING SUMMER 2021 12-August-2021  11.66
When do you believe CORPORATE travel will reach 50% of equivalent 2019 levels? AUTUMN/WINTER 2020 01-February-2021  10.73
When do you believe CORPORATE travel will reach 75% of equivalent 2019 levels? SPRING SUMMER 2021 21-June-2021  11.38
When do you believe CRUISES will reach 50% of equivalent 2019 levels? SPRING SUMMER 2021 08-July-2021  11.31
When do you believe CRUISES will reach 75% of equivalent 2019 levels? 2022 AND LATER 31-October-2021  9.15
When do you believe EDUCATIONAL & STUDENT travel will reach 50% of equivalent 2019 levels? SPRING SUMMER 2021 07-April-2021  11.13
When do you believe EDUCATIONAL & STUDENT travel will reach 75% of equivalent 2019 levels? AUTUMN/WINTER 2021 12-August-2021  11.80
When do you believe CULTURAL GROUPS will reach 50% of equivalent 2019 levels? SPRING SUMMER 2021 20-April-2021  9.88
When do you believe CULTURAL GROUPS will reach 75% of equivalent 2019 levels? AUTUMN/WINTER 2021 27-August-2021  10.41
When do you believe INCENTIVE GROUPS will reach 50% of equivalent 2019 levels? SPRING SUMMER 2021 30-April-2021  10.33
When do you believe INCENTIVE GROUPS will reach 75% of equivalent 2019 levels? SPRING SUMMER 2021 11-September-2021  10.51
When do you believe INTERNATIONAL CONFERENCES will reach 50% of equivalent 2019 levels? SPRING SUMMER 2021 12-May-2021  10.18
When do you believe INTERNATIONAL CONFERENCES will reach 75% of equivalent 2019 levels? AUTUMN/WINTER 2021 28-September-2021  9.60
When do you believe SPECIAL INTEREST travel will reach 50% of equivalent 2019 levels? SPRING SUMMER 2021 15-April-2021  11.68
When do you believe SPECIAL INTEREST travel will reach 75% of equivalent 2019 levels? AUTUMN/WINTER 2021 29-August-2021  11.74
When do you believe SPORT travel will reach 50% of equivalent 2019 levels? SPRING SUMMER 2021 10-March-2021  10.64
When do you believe SPORT travel will reach 75% of equivalent 2019 levels? SPRING SUMMER 2021 24-July-2021  11.75
When do you believe DESTINATION WEDDINGS & HONEYMOONS will reach 50% of equivalent 2019 levels? SPRING SUMMER 2021 08-April-2021  10.43
When do you believe DESTINATION WEDDINGS & HONEYMOONS will reach 75% of equivalent 2019 levels? SPRING SUMMER 2021 11-August-2021  11.01

Contact us

Drakos House
67, Agias Fylaxeos, 3025
P.O.Box 52444,
Limassol, Cyprus

Email: info@drakosdmc.com
Tel: +357 25324800
Fax: +357 25324921

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