Report Sees Demand for Domestic and Air Travel
After flights were largely grounded leaving travelers homebound in 2020, the return to air travel has become one of the most anticipated—and uncertain—activities of 2021.
Mastercard released Recovery Insights: Ready for Takeoff?, a worldwide look into key travel trends in the air and on the ground. Although global travel recovery remains uneven in its impetus, one-fifth of the countries studied have returned to at least 90% of pre-pandemic levels for domestic flight bookings.
The report, developed by the Mastercard Economics Institute, draws on aggregated and anonymized sales activity across the global Mastercard network to better understand the next phase for travel, its drivers, and challenges. This includes the balance between leisure and business, local and long-distance, and saving and spending. The report also looks at the spending categories that are seeing an uptick and what that signals in the way of travel recovery.
“While there’s been an impressive recovery in domestic air travel in a number of markets, the rebound won’t happen overnight. The pandemic brought the industry down to spending levels not seen in over 15 years,” said Bricklin Dwyer, Mastercard chief economist and head of the Mastercard Economics Institute.
Key trends include:
- Consumers continue to choose land travel options as gasoline spending goes up.
- In LAC, the demand for air travel is being led by consumers in Colombia, Mexico, and the Dominican Republic.
- Global business travel is showing mild recovery signs.