A third (32%) of US respondents have stated that they will reduce domestic and international travel, while almost half (48%) revealed that they will also now dine at home, instead of in restaurants
GlobalData
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MICE tourism may never fully recover from COVID-19 as international business arrivals set to fall by 35.3% in 2020
MICE could be one of the last sectors to recover fully as international business arrivals are projected to fall by 35.3% in 2020,
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M&A may help travel agents find route out of pandemic as consumer habits change
According to GlobalData, a leading data and analytics company, 41% of travellers have increased their social media browsing time, 26% are posting more regularly and 28% are spending additional time reading online reviews and blogs than prior to the pandemic
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UK domestic tourism trips down by a Fifth due to COVID-19 from 122 million in 2019 to 95 million in 2020
Consumer caution around the pandemic is evident from GlobalData’s latest COVID-19 global consumer survey, which reveals that *43% of respondents are still ‘extremely concerned’ about the global outbreak of COVID-19.
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Strategic partnerships in the tourism sector may increase as demand returns, says GlobalData
“Strategic partnerships are effective if company partners with a brand that specializes in an area where they may be lacking, in order to bolster their own offering.
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Airbnb’s adaptable business model and cost-cutting measures have revived hopes of a 2020 IPO, says GlobalData
Airbnb’s recent performance means that a stock market launch is now once again a possibility says GlobalData
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Deal activity in Asia-Pacific up by 11.1% during week ended 21 June, says GlobalData
An analysis of GlobalData’s Financial Deals Database reveals that the deal volume during the week also remained higher than the first quarter (Q1) of 2020 and May 2020 weekly average levels while it remained below the April 2020 weekly average levels
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Increase in consumer confidence could lead to a spike in UK domestic tourism
According to a recent GlobalData survey, 79% of respondents in the UK are trusting of products from their home country
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Travel & tourism sector witnessed growth in deal activity
Equity offering and private equity deal announcements increased during the week, while mergers and acquisitions (M&A) deal volume remained at the same level and venture financing and debt offerings deal volume declined
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Promoting locations like Hainan can bring Western tourists back to China, says GlobalData
According to GlobalData’s Week 10 COVID-19 Consumer Survey, 28%, 18% and 23% of the respondents in the US, Germany and the UK, respectively, have the least trust in Chinese products compared with countries from all other regions of the world