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| • | Back in the saddle. Leisure travel is rebounding, which is pumping up the share prices of many airlines, travel companies, and cruise and casino operators. Consumer surveys and bookings point to a buoyant season of holiday travel in the US, though less so internationally. [WSJ] | | | | • | Revisiting frequent-flying programs. After a steep drop-off in travel during the COVID-19 pandemic, airlines are lowering the bar to achieving status and rewards in their frequent-flyer programs. Climate change puts a pall over unnecessary flying, so some programs are focusing on alternative ways to rack up points. [NYT] | | | | • | Why it matters. Although the travel industry’s performance (as measured by multiple variables, including revenues and cancellations, website visitation, and future bookings) in 2021 improved considerably, the Skift Recovery Index shows it is still 35% below prepandemic levels globally. It’s also uneven, with a stronger recovery in North America than Asia. Industry headwinds include growing dissatisfaction among travelers and strained operational capacity. | | | | • | Be best, first. Customers are twice as likely to try new brands and experiences as a result of the pandemic, but companies that rapidly focus on giving travelers a great experience can rebuild trust and loyalty. See our report for the three pillars of an optimal customer experience, aided by the power of modern digital systems to measure impact and predict behavior. | | | | — Edited by Katy McLaughlin | | This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. | | You received this email because you subscribed to the On Point newsletter. | | | | Copyright © 2021 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | | |
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