While many are content with keeping a work-from-home schedule as the pandemic is countered by national vaccination measures, an overwhelming majority (75%) are looking forward to travel by plane, train and bus. PredictHQ polled 1,500 consumers for its Vaccine Impact Report: The State of Travel and Live Events, and discovered that almost as many (71%) are so confident in the vaccine’s ability to protect them from the coronavirus and have had enough of virtual shows and concerts, that they’re eager to attend in-person, live events of more than 1,000 people. Respondents said they planned to begin a return to pre-COVID travel and entertainment within the next three to six months, after they’ve completed the cycle of the vaccine.
“With the return of live events and travel comes an uptick in demand for hotels, restaurants and rideshares—all industries that will be encountering their biggest spikes in demand since the start of the pandemic,” said Campbell Brown, CEO at PredictHQ in a press release.
SEE: What the CDC guidelines mean for business travelers amid vaccinations en masse (TechRepublic)
But it won’t be easy. Brown added, “While this recovery will be sustained, it will also be chaotic and highly fragmented so there’s an urgent need for a way to be real-world aware and able to quantify the unpredictability as we anticipate the return of concerts, festivals and other attended events.”
This is good news for local, national and even international businesses. “Our eagerness to socialize means it’s worthwhile for businesses to know which events are coming back the fastest so they can accommodate their consumers accordingly,” Brown said. “Businesses within hospitality, transportation, food sectors and more can use forecast-grade data and predictive analytics to make sure they’re fully prepared for this rapid influx.”
Isolation may have turned many into gloomy Guses, but the vaccination plans signal a burgeoning optimism, an excitement and anticipation of a lifestyle change culminating into an increase in the demand for travel.
Respondents told PredictHQ of their vaccination plans and what they’ll do once they’ve finished the process. Additional revelations include:
- 70.33% said they are planning to get the COVD-19 vaccine
- 78.2% of U.S. consumers said their lifestyles will change once they receive the COVID-19 vaccine
- 45% of men said they will make “major” changes to their lifestyles, while only 24% of women said they will do the same
- 58.13% said they are more likely to attend a live or in-person event after being vaccinated
- 47.6% said they are more likely to attend an event of more than 1,000 people
- 75% are planning a trip or to attend major events within the next six months
A rise in travel and a demand for accomodations is predicted as early as July, which means a post-COVID-19 travel windfall, for pleasure and business. PredictHQ cited a study that it said proves a link between a country’s incoming business travel and the growth of new and existing industries.
Previously, it was believed that the impact of COVID-19 would have years-long ramifications in its effect on employment and economic growth, but the PredictHQ report found:
- 25% of respondents ages 24-44 have “missed traveling for work”
- Nearly half (48.67%) of respondents reported they will travel by plane for a work event
- 51.33% said they would be willing to travel for a work event only if required
In-person events and travel will make a comeback, but “economic recovery will depend on the ways brands can accurately measure specific demand,” PredictHQ’s study noted.
“To predict demand in a dynamic world, businesses need data that is global, high quality, accurate, timely and enriched with the factors that impact demand,” Brown said. “Demand intelligence data helps businesses gleanexactly which events are returning and where, as well as how they will cause demand anomalies across industries from hospitality and travel, to food delivery and ridesharing, playing a pivotal role in the world’s economic recovery.”
The survey of 1,500 adults in the United States was conducted by PredictHQ.