Last week, at the Virtuoso Travel Week in Las Vegas, the network shared its latest research on the travel industry, and found that 77 per cent of luxury travel advisors feel like their business has increased over the past 3 economic quarters of 2021, among other findings. Compared to JAN 2021, business was down by 82 per cent compared to JAN 2019. However, this number has been cut to 46 per cent in JUN 2021. In Q2 2020, refunds accounted for 48 per cent of Virtuoso advisors’ business, but that number is down to just 8 per cent in Q2 2021. Virtuoso also found that 26 per cent of travellers are planning trips now even if plans will change, while 15 per cent are waiting until their travel date is closer to book, both improvements from 2020. The network also notes that while the industry is recovering, full recovery is still not yet here, with 39 per cent of travellers still six to 12 months away from considering a trip. The report did not differentiate between US and Canadian respondents.
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