The pandemic has led to an increase in the number of environmentally conscious consumers, with growing interest in eco-friendly travel. At the dawn of a new era, travelers are concerned about the impact of their travels on the environment and are taking more responsibility for it. The renewed interest in eco-friendly travel was one of the key themes at this year’s Allianz Partners Global Travel Summit.
The Allianz Partners Global Travel Summit was held recently on the theme of “ Wonderland “. The three-day virtual event, which brought together over 1,000 attendees, focused on emerging trends in the travel industry as the world emerges from the pandemic and faces a new set of challenges due to geopolitical and economic uncertainty. This new era offers the travel industry the opportunity to become a leader for environmentally conscious consumers.
The rise of ethical travel
Allianz Partners has teamed up with global consumer trends agency Foresight Factory and other industry experts to explore current and future trends impacting travel, enabling Allianz Partners to stay ahead of the game. avant-garde and to meet the ever-changing needs of customers around the world.
The trends showcased at the Summit were based on extensive research conducted by both Foresight Factory and Allianz Partners’ Customer Lab, which revealed that now – more than ever – it is desirable to prioritize the planet and to make more ethical, more sustainable and more ecological choices. This observation was supported by research results which show in particular that six out of ten families (60 %), aged between 25 and 40, say they will pay more attention to the environmental impact of their trips in the future compared to the pre-pandemic period, this figure rises to 35% in Internal France . In addition, more than seven in ten consumers in Britain, Germany and the United States say that eco-responsibility filters on travel sites would help them make better choices and live greener. .
Travelers are increasingly concerned about travel ethics and are considering the various eco-friendly travel options available to them. More than half (56 %) of families aged 25 to 40 surveyed worldwide and 29% in France intend to travel less in the future , in order to further reduce their ecological footprint. The trend towards slow travel, which makes travel itself a holiday destination or activity, also favors more sustainable holiday options such as the train or travel by recreational vehicle (motorhomes, caravans, coaches, caravans) .
Joe Mason, Marketing Director – Travel at Allianz Partners, said:
At this year’s summit, we learned about emerging trends in the travel industry and it is clear that the strong travel recovery is facing new challenges. Economic volatility, geopolitical unrest and the rising cost of living, coupled with a desire to make sustainable and environmentally friendly choices, will all have a long-term impact on our industry.
The travel industry is not immune to economic developments. Another dominant topic of the Summit was the impact of economic conditions on travel confidence. Inflation, rising energy costs and general increases in the cost of living have a direct impact on destinations, travel times and traveler spending. Households are directly impacted by the geopolitical situation, supply chain issues leading to major economic upheavals due to soaring gasoline and food prices. For the travel industry, this has a knock-on effect on the cost of travel, with long-haul flights, in particular, becoming increasingly expensive. However, it also has an impact on the prices of travel-related expenses, such as hotels and restaurants, which can pass these price increases on to consumers.
Finally, the risk is that leisure travel is no longer seen as a priority by consumers but as a luxury that they cannot afford, for those with modest incomes.
Business trips vs. sustainable development goals
The way we work has completely changed as a result of the pandemic. Over the past two years, as remote working and virtual conferencing have taken center stage, business travel has been reduced significantly. With borders reopening, companies are now finding ways to re-evaluate how they work. Is business travel necessary or optional ?
Reducing business travel has helped companies cut costs and reduce carbon emissions, helping them achieve their sustainability goals. However, many employees yearn for face-to-face interaction with their customers. Companies are now at the crossroads between sustainability goals and employee wishes. With the return to the office, the correlation between the desire and appetite for business travel has increased, with some companies using business travel as a recruitment and retention policy. Companies are willing to change their policies to keep their staff engaged.
The world is constantly changing. The rise of the environmentally conscious consumer post-Covid-19 pandemic, coupled with a turbulent geopolitical landscape, are creating headwinds for an otherwise robust travel recovery.
About Allianz Partners
Allianz Partners is one of the world’s leading B2B2C companies in travel insurance and assistance, international health and motor insurance. Focused on customer needs, our experts are rethinking insurance services by offering tomorrow’s high-tech, high-touch products and solutions that go far beyond traditional insurance. Our solutions are perfectly embedded in the offers of our partners or sold directly, and are marketed under four brands: Allianz Assistance, Allianz Automotive, Allianz Travel and Allianz Care. The group is present in 75 countries, has more than 19,400 employees speaking 70 languages, processing 58 million files each year, eager to do more and more to offer peace of mind to our customers around the world.
About the Customer Lab
The Customer Lab Allianz Partners is an internal incubator, dedicated to consumer studies, the group and its partners are better able to understand the main needs of customers, their behavior and the factors that encourage them to choose their insurance and assistance. Comprised of information collected from more than 60,000 customers in 27 countries around the world, its proprietary quantitative database generates more than 25 million behavioral data points. In 2021, a new wave surveyed an additional 23,000 consumers across Mexico, Thailand, Japan, Singapore, Switzerland, Austria, Turkey, Slovakia, Romania, Portugal and Greece and included questions about new emerging behaviors related to COVID. In 2022, the Customer Lab surveyed over 2,500 consumers in France on the same questions related to COVID.
About Foresight Factory
Foresight Factory is a leading international consumer forecasting company. Our core expertise is based on identifying and forecasting social and consumer trends and determining the extent of their impacts on markets, services, brands and products. Since our launch in 1996, we have strived to meet the strategic needs of businesses through the application of perspective. We identify, measure and examine trends, attitudes and behaviors through the rigorous analysis of quantitative and qualitative research. Our robust research program provides businesses with the foundation and confidence to anticipate the likely impact of changing consumer environments.