The COVID-19 pandemic has indelibly affected the travel industry. Until recently, it suffered severely. Spending on tourism isn’t likely to return to precrisis levels until 2024. But though the long-term effects may appear overwhelming, industry leaders are finding that many lessons from the COVID-19 crisis could help travel companies come back stronger than they were before the pandemic.
As COVID-19 concerns begin to subside, a silver lining emerges: according to a 2021 McKinsey survey, travel is the second-most-desired activity among respondents, behind dining out. Hotel reservations and rental-car bookings are on a major rebound.
Axel Hefer, CEO of Trivago, a global…