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Trust is the new global currency for Travel and Tourism

Trust is the new global currency for Travel and Tourism
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ITB Berlin Now opened virtually and the number one discussion is on how the travel and tourism will look like after COVID-19

“Trust plays an important part in travel decisions in 2021“, said Christian Smart, general manager of Travelzoo, at the ITB Berlin NOW Convention. For the last six years, in cooperation with ITB Berlin, Travelzoo has been conducting representative surveys on travel trends. This time the topic is “what affects buying decisions in times of crisis?”According to Smart, it was clear that trust played an increasingly important role – and that the travel industry could benefit from this. “Trust is a global currency.“ Worldwide, 83 per cent of respondents said that being able to trust people and companies mattered most to them. The older people are, the more that statement is true.

Among Germans, trust in travel brands is established mainly through customer service. Factors such as being valued as a customer and a brand’s reputation are also important. For customers, the most important thing is to be able to rebook or get one’s money back shortly before a trip. Observance of health safety measures is also important. Among respondents, knowing a destination to be “safe“ comes only fifth.

73 per cent of Germans would spend more if they could be sure that a service or goods can be trusted. “Flexibility and trust are currently the main factors driving holiday bookings“, said Christian Smart. “That is why tour operators are right to be offering flexible, new pricing options.”

What other factors establish trust in travel brands? First comes an easy-to-reach customer service (42 per cent), followed by being valued as a customer (33 per cent) and a travel brand’s reputation (31 per cent). Only four per cent of respondents said influencers affected their travel decisions. 33 per cent trusted the opinions of family and friends and 24 per cent those of rating portals.