Businesses must maintain a healthy dose of realism but signs remain positive, says Travel Weekly’s Lucy Huxley
Among all the positive trading updates and data showing international travel continuing its recovery to pre-pandemic levels, it could be easy to be complacent about the sector’s trajectory.
Yet with increasing numbers of consumers set to feel a budget squeeze as mortgage terms expire and the cost of living remains stubbornly high, it is crucial for businesses to maintain a healthy dose of realism.
That is not to say success and growth shouldn’t be celebrated, of course, and it is hugely gratifying to be able to write this week about a range of independent agencies expanding their footprints based on prudent business planning.
Many SMEs are still contending with debts accrued during the pandemic as well as the impact of higher costs, so any expansion must be well thought-out to ensure bottom lines are protected.
But as many retailers have told us in recent weeks, it is essential to push on open doors and capitalise on demand while it remains strong.
The short and medium-term outlook for the trade was one of the key topics discussed at this week’s Travel Weekly Future of Travel Conference in London, with speakers including the bosses of Travel Counsellors, Barrhead Travel, Tui, Jet2 and easyJet holidays.
The conference again took place in partnership with Google, with other subjects under the spotlight including regulation of the industry, summer operations and the impact of AI on the sector and it proved to be a fascinating day.
There are clearly still headwinds on the way, but the industry continues to prove it is adept at adapting and continuing its positive momentum.