Travel Industry Cut Its Ad Spend by 50% Amid Coronavirus
Marketers of travel-related services are among the very few of those who have to bear the brunt of the COVID-19 outbreak. The Government authorities worldwide have restricted the travelling and have urged people in urgency to stay at home and minimize the possibility of infection amongst people. The government has also urged people to defer cruise ship travel and to also avoid non-essential travel.
Recently in India, the overall ban on domestic and international flights and trains has been imposed till the 31st of March, given the rising outbreak at a rapid rate. The Aviation Industry has taken a huge cut in their salary to continue the business.
Several travel-related industries and few media outlets plan for a possibility of the bounce back when coronavirus is finally contained, until then, it is a loss for both. However, on close observation, airlines and cruises haven’t changed their ad creative in the past month, and are continuing to promote destination ad sales. This could because of the hope that this infection will be contained and then people would be keen more than ever to travel around the world.
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Broadcasters and publishers courting hotel, airline, cruise, trains and buses advertisers will need to give a thought about what is next for them. What will be the aftermath of COVID-19?
The travel industry has been forecasted to become one of the top-rated marketers and advertisers in the digital media today, but this has taken a sudden hit. Which was completely unpredictable. Marketers, at this hour, need to be prepared for the possibility that the demand for travel-related services might return during traditionally busy summer or could be late. They should be prepared for every possibility.