Is Journey a Proper or a Privilege Put up-Covid? The Skift Staff Discusses – Skift
We spend a lot of time at Skift these days, thinking about the form and scope of the travel recreation. Sometimes we use our own research, but most of the time we share stories from our personal life.
This exchange is often brought to life on our internal communication platform Basecamp. Basecamp is now our virtual water cooler as a fully distributed company.
On Wednesday, mention of a single data point on savings rates during the pandemic sparked some really thought-provoking exchanges that we thought were too good not to share. At its core, it is about the idea of travel as a right versus privilege – an idea that our founder Rafat Ali pushed ahead in the industry in 2019, but with very little response.
Consider how extractive travel has become as a sector – and we as 2 billion travelers – have become; Some Reshuffling / Rethinking Needed: We’ve been calling about travel as a right for decades, now it needs to be changed to travel as a privilege. Many nuances, of course.
– Rafat Ali, media owner and operator (@rafat), February 21, 2019
Our jokes on Wednesday repeated some of these topics.
For us, this format is an experiment that tells a story in this way. Let us know what you think.
Now to our lecture:
Seth Borko 11:52 EST (Senior Research Analyst, New York)
“Interesting Bloomberg article on pandemic savings. Says Americans bagged $ 2.9 trillion in excess savings during the pandemic. Fascinating statistics … In the US, a decline in the money saved last year would drive economic growth up to 9%. If you’ve heard me start thinking about savings rates and economic data, this is why. Really has the potential to make a big boost in travel spending. “
Rafat Ali 12:01 p.m. (Founder, CEO, New York)
“Here for the rebound!”
Dawn 12:04 p.m. (Dawn Rzeznikiewicz, Brand Strategist, New York)
“What makes you think it is being held for travel rather than debt, medical bills, or just because people will be psychologically in a different place after this scary period? Seth (assuming everyone is still good for the economy)
curious about your thoughts. “
Jeremy 12:12 p.m. (Jeremy Kressmann, Research Editor, Duluth, Minnesota)
And on the same subject, it could be used speculatively, a la what happened to Gamestop and Robinhood?
Borko 12:16 p.m.
“There are many different ways to react there and at the end of the day it will all be just speculation until it happens for sure. But the first is that even before this crisis, those who were relatively wealthier led the demand for travel in the United States and were better able to handle debts and medical bills. The editorial team is currently working on an article on luxury that will advance the travel recreation that goes into this idea.
Borko 12:23 p.m.
“Whether people are psychologically in a different place is a big question that may change for some. However, our survey shows that more Americans are willing to spend more on travel over the next twelve months. And also to your point about medical bills and debts. The savings data relates to all of these mandatory expenses so that excess cash is available. Also interesting is that overall interest payments have actually actually decreased, mainly because mortgage rates are so much lower (although this is very uneven and primarily benefits the owners versus tenants). “
Rzeznikiewicz 12:25 p.m.
“It’s all interesting – and points taken! Has research done anything to see if travel is cheaper or more expensive or the same on return? “
Madhu Unnikrishnan 12:26 p.m. (Editor, Airline Weekly, a brand of Skift, San Francisco)
“However, I wonder if spending on consumer goods, new homes, etc. will increase if past recessions are a guide. And after considering the fear that people might still have to travel, I wonder if traveling would be lower on the list than it normally is. “
Tom Lowry 12:26 p.m. (Editor-in-Chief, New York)
“Ned would tell you no, Dawn … Airlines could actually regain some pricing power this summer
Rzeznikiewicz 12:27 pm
“Ooft, maybe I’ll book a few flights now, Tom”
Rachel Bronstein 12:30 p.m. (Developer, New York)
“Anecdotally, which may not be worth much: My friends come from a variety of backgrounds, including artists / freelancers, unemployed restaurant workers, others who have been laid off from various fields, and some tech brothers like me. Regardless of economic status, medical access, or debt, most people talk about traveling as soon as possible. With the initial EIP and additional unemployment benefits, most of my friends in debt paid off as much as possible and spent very little, but at this point, most of the people I know are willing to spend. It’s not that my friends aren’t worried about their financial health because that is scary and will continue to be scary. But my feeling, and the feeling of the people around me (I think), is that free time – whether it be traveling, partying safely, enjoying restaurants, or just being together – is as important to recovery as restoring financial health and saving . Both of these are critical to recovery, and travel is the part we talk about the most. That could just be my special group, of course! Nobody has families over here. “
Rzeznikiewicz 12:33 PM
“(Bragging) lol – I agree, that sounds a lot like me / my personal circle, but we belong to a relatively privileged class. I thought the privileged were always the travelers. “
Haixia Wang 12:34 p.m. (Vice President, Research, Seattle)
“Agree with Rachel on that. and Dawn, fascinating to look at from a psychological point of view. I think most people feel that they need a reward for themselves afterward and that they will spend on “non-essential” things. “
Rzeznikiewicz 12:34 pm
“To your point, Jeremy, I’ve never been as interested in or invested in the stock market until this year.”
Dani Wagstaff 12:35 p.m. (Director of Emerging Brands, New York)
“I’m sure Skift addressed this or the will, but I’d like to know more about points. We now have sooo many points on the hunt that we normally spend on travel. Do tour operators need to change the exchange of points if they need cash? I am not sure how it works. “
Rzeznikiewicz 12:35 p.m.
“Haixia definitely. We hope Ned is a little wrong in suggesting that travel could get more expensive – that could upset many of us. I can indulge in a POINT, haha. “
Kressman 12:36 p.m.
“Dani Chase went to great lengths to get members to use their points on purchases outside of travel. Lots of offers to redeem points for everyday spending discounts, bank statement balances, etc. But it will be interesting to see everyone try to use their point balances at the same time when the trip starts! “
Wagstaff 12:38 p.m.
Ali 12:44 p.m.
“This is a fascinating discussion, we should either try to make it a story or a clubhouse :-)”
Jason Clampet 12:51 p.m. (Co-Founder, Chief Product Officer, London)
“I’m probably optimistic here, but I think the pandemic has also made us appreciate local and regional travel more than getting on a plane and flying halfway around the world. I also think the latter will (and should) become more costly in the years to come. “
Unnikrishnan 1 p.m.
“Rachel: That’s fascinating! My group of friends are instead spending money (or planning to spend) on massive home projects, new stoves and appliances, cars, etc. There is talk of travel, but by and large I only hear of home improvement / renovations
“And that’s a well-traveled bunch. I’m actually surprised how little we all talk about travel and how much we talk about Wolf vs. Bertazonni stoves. “
Clampet 1:23 p.m.
“And the downside is my relatives, who are not so lucky to be able to work remotely, have either lost their jobs or health care, and are deeper in debt. So we’re also strongly reminded that travel is first and foremost a luxury. “
Lebawit Lily Girma 1:25 p.m. (Global Tourism Reporter, Dominican Republic)
“Also agree to regional / local trips. With the planning for long distance travel in 2022. We talk a lot about international travel, but there are also interesting changes / dynamics at the national level. For example, in my backyard, the prices at resorts and hotels that used to be inaccessible to the majority of the population have dropped dramatically – now they stay literally several times a month (it seems). The same goes for African safari destinations where the locals used to have a price. Lots of thoughts on that. As for my privileged fellow travelers, I mostly hear post-vaccination travel plans for the summer. Totally agree, Jason. “
Wang 2:36 p.m.
“The question is: is this a newfound appreciation or is it just a composite of necessity? A friend in China told me that from a lack of international travel, people flocked to Hainan, one of the most popular domestic destinations during the New Year. but they stood in long lines in front of duty-free shops. As soon as they are allowed to travel outside again, these people will not hesitate to resume what they used to do. “
Kressmann 2.41 p.m.
The million (billion? Trillion?) Dollar question for me is how much all of this will permanently change everyone’s habits and decisions, rather than just proving to be a passing mistake before historical habits come back into effect. “
Rzeznikiewicz 2:45 p.m.
“It’s interesting to hear Haixia – and an argument that things are shifting back to international travel. You have to keep in mind that people don’t just travel because they want to visit this place in particular. As the world becomes more interconnected, people have families in different countries that they are dying to see. Plus, most of the countries aren’t as big as the US, so I wonder if the lure of domestic travel might not last as long as it does here. (where we have a number of different types of places to visit) ”
Size 2:50 p.m.
“True Haixia – maybe a mixture of both”
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Photo Credit: Destinations are fueling many important travel recovery talks. Bing Hui Yau / Unsplash