Flexibility is your Friend
I recently had the chance to sit down and talk about post-pandemic travel with my friend and senior economics correspondent Chris Farrell. As Chris writes in his recent article for Next Avenue traveling in the “new normal” is FAR from what was “normal” pre-pandemic. As people emerge from imposed lockdowns newly vaccinated with cash to spend, many are finding the current travel landscape frustrating to navigate.
Many players in the travel industry including airlines, hotels, rental car companies and tour operators downsized during the pandemic in order to ensure they would withstand the downturn. As a result the supply of travel resources that were plentiful pre-pandemic (think bargain airfares, rental cars and Airbnb/VRBO options) are now in high demand and scarce supply. And that results in higher prices for everyone. So what’s a value-driven traveler supposed to do?
As with many things in life the key lies in planning…
Smart travelers are already planning ahead. If you think 2022 is too far into the future to plan, think about all the travelers whose flights, cruises, tours and travel were cancelled in 2020 and in some cases in 2021 as well. They are already rebooked for 2022 and into 2023 as are those who used their 2020 pandemic-imposed staycation to save and plan their future trips. By planning out more than one trip at a time you may be able to find overlap, combining two trips into one, and alternating more expensive adventures with less costly trips. It also helps your travel advisor keep an eye out well-priced travel opportunities that match up with your destination wish-list.
and flexibility…
It’s going to take a while for the travel industry to catch up to current demand for its services. Airlines need to add more flights and bring back popular vacation routes. As they do this flight schedules will continue to change, flights may be cancelled and certain destinations may have more limited availability. Hotels, restaurants and rental car companies all need to increase capacity. Tour operators need to add more options to their 2022 and 2023 schedules. All of this requires hiring and training thousands of new employees. And this is going to take some time.
For the foreseeable future it’s going to be a good idea to have a back-up to your desired travel plans. And a back-up to the back-up. Have a few alternative travel destinations in mind for your next getaway. Consider travel outside of regular school vacation periods and expensive holiday time periods. Fly midweek instead of on the weekends. Consider a form of travel you may not have tried previously such as an escorted tour or cruise that has already taken care of the tour planning for you. Maybe consider a new career in the growing travel industry…
Inevitably the law of supply and demand will prevail and we will have a “new normal” for travel.