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McKinsey Travel Insights: What will it take to go from ‘travel shock’ to surge?

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…

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