The coronavirus pandemic had a significant impact on TUI, a leading tourism and travel company. The global travel bans led to a sharp decline in the company’s revenue, with hotels and resorts experiencing a nearly 40% drop in revenue in 2020 compared to the previous year, and income generated by cruises decreasing by more than 94% in 2021. TUI also reported a net loss of nearly 2.5 billion euros in 2020/2021.
Despite the drop in customers, TUI still remains a favorite among holiday-goers in the United Kingdom. In 2022, TUI was the leading website for holiday searches in the UK, with one of the highest market shares of leading companies in the package holiday market, accounting for a fifth of the market. With the easing of travel restrictions and the growing demand for travel, TUI is likely to see a gradual recovery in its business in the coming years.