While industries currently affected by the measures taken to contain the COVID-19 pandemic are hoping for a quick recovery once the outbreak is contained, there are no guarantees that everything will go back to the way it was before this extraordinary crisis. Will companies continue to fly their employees across the country to attend a meeting after the crisis has proven how well video conferences work? Will people feel safe to travel halfway across the world for their annual vacation? Will they be able to afford it?
According to a recent survey conducted among U.S. consumers by McKinsey & Company, the coronavirus pandemic could indeed have a lasting impact on international travel. 37 percent of the 1,063 U.S. adults surveyed by McKinsey stated that they expect to reduce their international travels once the crisis has subsided compared to just 18 percent who expect to travel more. To a lesser extent the same is true for mass events (concerts, movies etc.), mall visits and domestic travel, with 29, 29 and 27 percent planning to reduce those after things have returned to normal.