According to a survey of 1,500 people, commissioned by AccuraCast, 41.5% of those polled said they did not plan to travel in 2021. The survey asked consumers what was the most important aspect of travel. ‘a travel insurance policy and the majority of respondents said they did. don’t plan to travel in 2021, so I wouldn’t need travel insurance.
While this is good news for health officials, it creates lingering problems for the travel industry, which has globally suffered a loss of 75 million jobs and $ 2.1 trillion in revenue, according to the reports. estimates of World Travel and Tourism Council.
The top priority for travel insurance – for those planning to travel – was « cancellation due to Covid restrictions » (21%), followed closely by « medical coverage, including Covid coverage » (11 , 5%). It appears that delays are no longer such a concern for consumers, with just 3 percent of respondents saying it is the most important aspect of a travel insurance policy.
People aged 65 and over were the most likely to say they would not be traveling in 2021 (50.5%). In contrast, just 36% of 18-24 year olds surveyed said they would not travel, making this group the most likely to travel in 2021.
Respondents aged 35 to 44 were most likely to rank ‘cancellations due to Covid restrictions’ as their priority. Respondents aged 45 and over were not as concerned about cancellation coverage, arguably because health concerns are a priority for travelers in this age group.
With the travel industry already heavily affected in 2020, the survey results show that 2021 will not be an easy return to normalcy for the industry.
Marketers in the travel and insurance industries must continue to conserve resources, improve the experience of current customers, and focus on the unique service proposition that sets the company apart from its competitors.