Responsible Travel is projecting its most profitable year in 2023 after paying off its Coronavirus Business Interruption Loans this summer.
The government loans were paid up two to three years ahead of schedule, returning the business to a debt-free entity.
The financial upturn comes six years after the company’s directors bought out its minority private equity investors, and it remains an independent business.
A company survey of its 479 global tour operator and accommodation members found that more than 90% are on track with repayments of government-backed Covid loans, or have repaid them early.
But some are still struggling from the effects of the pandemic, compounded by other global and localised conflicts, crises, and disruption such as the summer heatwaves – with 9.9% of respondents reporting business in 2023 as poor.
More than a quarter (27.9%) reported business being average so far this year.
However, the overall results paint a picture of renewed financial stability in sustainable tourism.
More than 60% of respondents indicated their business was doing well or excellent in 2023, including 12.6% reporting that 2023 will be one of their best years ever.
The results came as Responsible Travel introduced the option of carbon labelling to partners and published its first impact report.
Co-founder and chief executive Justin Francis said: “Customers are clearly prioritising travel amid the cost-of-living crisis.
“But these results emphasise they’re increasingly conscious of getting value for money – both in terms of experience and impact – and that the travel companies committed to maximising positive impacts of their business, for communities and nature, are benefitting.”