Skift Take
How do we browse these odd recessionary times, even as we are overwhelmed with demand for a blockbuster year up until now and a summer travel crush coming?
Rafat Ali
That in essence is this disorienting time of hope and care in the travel market, and the big question everyone are facing: do we continue to push for growth in a time of record demand OR do we push the brakes as every other sector and bigger economies are grinding to a halt?
This is extraordinary this time around due to the fact that travel normally is the leading sign of recessionary obstacles, however the opposite is taking place now. How do we navigate these times, especially from now until fall? Definitely this continual high inflation and lowered individual stock or retirement portfolios could turn this voracious bottled-up need south pretty quickly, right? The Airbnb CEO and the Marriott CEO don’t see a recession in travel coming. But American travelers are now, for the very first time, saying that financial elements surpass health and wellness worries when it concerns take a trip decision-making.
I don’t know the response, so on Wednesday I did a brief 10-minute video attempting to put my arms around this, for the travel industry and indeed for our own service at Skift also. And posted it on my social feeds where I got lots of responses, watch the video below and see all the actions on LinkedIn here. The essence of responses I got: things might get hairy in fall, so continue summer season as is, have a cautionary eye after.
These are surreal times, a disorienting time of hope & caution, it requires me looking awkwardly into electronic camera with THE BIG QUESTION travel is facing: do we continue to push for growth in a time of record demand OR do we press brakes as every non-travel sector grinds to halt? pic.twitter.com/EbLlBSREqj!.?.!— Rafat Ali, Media Operator & Daddy
(@rafat)Might 25, 2022 It is a concern we at Skift, a media details
company entirely based on the travel industry, are dealing with as well: 2021 was our most successful year ever, thanks to the discipline with which we have made a comeback compared to the horrendous 2020 for us and everyone else in the travel sector. Should we continue to employ for new positions, broaden our organization and continue to look at M&A? Or should we conserve cash? It is live in my head. I am posting some of the responses I got, below: