COVID-19 has had a major effect on Travel & Tourism. But the sector and its people are resilient and have made great strides in adapting to the circumstances. Given that the global context has changed so dramatically over the past 18 months, the World Travel & Tourism analysed the current Travel & Tourism context and offer a perspective on a potential path forward, specifically for business travel.

This report draws on joint research carried out between WTTC and McKinsey & Company. The report not only builds on research and data analysis, but draws on insights from key Travel & Tourism leaders. Interviews with 19 CEOs and key stakeholders were conducted to gain their perspectives on shifting trends, the challenges they have faced, and the outlook and opportunities for the future.1 The hope is that stakeholders find the analysis and perspectives helpful in formulating their approaches to the challenges and opportunities that lie ahead.

The report examines issues affecting the sector and the implications for business travel. One important factor which will alter how the Travel & Tourism sector plans for recovery is the likelihood that COVID-19 will become endemic. Experts predict that COVID-19 will transition from a pandemic to an endemic state, with continuing ebbs and flows of disease outbreaks and travel restrictions.2 This has significant implications for international travel and will affect the pace of Travel & Tourism’s recovery and shape demand for business travel.

The good news is that international travel is resuming in parts of the world, and there has been an initial rebound - particularly in the domestic and leisure segments. However, business travel was disproportionately affected by COVID-19 and has been slower to resume. Given that business travel is vital for many sectors of the global economy, it is important that all stakeholders join forces to find solutions to aid its recovery.