Research Insights
What's in a market projection?
While challenging to confidently project how 2021 will play out, Phocuswright has developed two alternate high-level scenarios (best-case and worst-case) to complement the official baseline projections made in the U.S. Travel Market Report 2020-2024 Series.
Purchase this report through April 30, 2021 at the special price of US$1,995 (saves $500 off the regular $2,495 price).
Presented in light of the significant market uncertainties created by the COVID-19 pandemic, these best- and worst-case scenarios take into account a range of general and segment-specific factors, including:
- Vaccine distribution and uptake
- Travel restrictions
- Infection rates
- Governmental support
- Economic indicators
- Travel sentiment and more
Alternatively, further delays in controlling the virus would trigger more of a worst-case scenario for recovery. Significant spikes or waves of infections - perhaps in combination with vaccine-resistant variants or poor vaccine distribution - would create the need for tighter travel restrictions throughout the year. Consumer confidence would wane further and travel demand - both domestic and international - would remain severely depressed for much or all of the year. Such a scenario would equate to 6% market growth in 2021 and significantly delay full recovery.
Note that these alternative market scenarios aggregate similar projections illustrated at the segment level for all the individual reports that are part of this U.S. Travel Market 2020-2024 series. Data and projections featured in the balance of this report are based on the official baseline projections only.
Though the rebound will be uneven and take longer for some segments than others, travel suppliers and intermediaries that are able to weather the crisis can look forward to solid growth and a gradual return to normalcy in the years ahead. Curious about the state of the U.S. segments? See current trends, projections, and more here.
Related: 7 design principles for a standard health and immunity passport.
Included in this series:
Related: 7 design principles for a standard health and immunity passport.
Included in this series:
- U.S. Travel Market Report 2020-2024
- U.S. Travel Market Data Sheet 2020-2024
- U.S. Airline Market Report 2020-2024
- U.S. Online Travel Agency Market Report 2020-2024
- U.S. Car Rental Market Report 2020-2024
- U.S. Cruise Market Report 2020-2024
- U.S. Packaged Travel Market Report 2020-2024
- U.S. Travel Market Interactive Charts
See more 1 minute videos on global travel market projections, data, percentages and more here.
Interested in the Europe Travel Market Report 2020-2024 Series? Get the same deal on the series of European reports.