Experts are divided on the outlook for travel in 2023 | Tech US News


Predicting what might happen in travel in 2023 is difficult.

Much of the industry, Asia being the exception, has recovered from the pandemic and has reached or exceeded 2019 business volumes in some cases.

But the war in Ukraine, high inflation, fuel prices and the cost of labor are putting pressure on economies and consumers.

Travel experts on the Executive Panel: Expert Session and Predictions at The Phocuswright Conference, who have seen many ups and downs in the industry over the years, are split on what the first half of 2023 will look like.

Timothy Hughes, vice president of corporate development at Agoda, says Asia still has another six to 12 months of pent-up demand, with Japan and Korea opening recently and causing an “explosion” and China expected to open next year.

Others were not so optimistic: Timothy O’Neil-Dunne, director of T2Impact, sees a potential “bloodbath” in the first quarter of the year.

Meanwhile, Flo Lugli, director of the Navesink Advisory Group, believes 2023 will be all about “realignment and refinement” in terms of dealing with the changes in the hospitality industry in recent years.

The panelists also addressed additional trends, including super app dynamics and whether it is needed in the West, fintech in travel and the likelihood of further changes in travel distribution in general.

Watch the full session moderated by Phocuswright Research founder and analyst Lorraine Sileo in the video below:

Executive Panel: Pundits & Predictions – The Phocuswright Conference


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