2020 – Strategic Vision

07Oct 2020 by Peter Bates

We Are Living in an Age of Anxiety…

To say that we are navigating an uncertain world is a huge understatement. The pandemic, the economy, the American election, the future of our great industry — are all causing substantial confusion, anxiety, and stress. While we are all focused on figuring out what might happen next and how to deal with it, one issue that I fear we are not paying enough attention to is mental health. Whether you are considering your workforce, your business partners, or your clients, emotional and psychological wellness is at risk. Studies are showing that the pandemic is having broad psychological repercussions. In a survey by the Kaiser Family Foundation in mid-July, 53% of U.S. adults reported that their mental health has been negatively impacted due to worry and stress over the coronavirus — up…

06Aug 2020 by Peter Bates

Black Travelers Matter: So why is our industry so damn white? (Part two)

Luxury Beat

In my previous post, I wrote to you about the issues of racism and diversity and how the travel industry comes up short in multiple ways. I also shared insights and advice from experts I’ve spoken to. I’ve received a sizable number of responses so far. Most have been positive, thanking me for exploring the subject. Others have complained that I’ve waded into politics—however, I see this not as a political issue but as a business issue. Today, I focus on the subjects of marketing and operations, as well as the concept of “anti-racism,” and make the business case for why diversity matters. If you missed the last post, you may read it here. What Message Does Your Advertising Send? Diversity in Marketing As Tyronne Stoudemire, Vice President of Global…

30Jul 2020 by Peter Bates

Black Travelers Matter: So why is our industry so damn white?

Luxury Beat

The last time I wrote, in May, we were still trying to understand the short- and long-term effects of the global pandemic. We have learned quite a bit since, but with recovery faltering in many places, the overall outlook is still a bit cloudy. One thing I believe we’ve all learned is to expect the unexpected. But I’m writing now on a different topic. Among the many surprising things to have happened this year is how quickly the issue of race and diversity has burst into our collective consciousness. Of course, racial inequality and injustice have always been a concern, particularly for members of minority groups. But the murder of George Floyd by Minneapolis police in May and the protests that followed, first across the United States and then around…

07May 2020 by Peter Bates

Talking Travel: How to Communicate to Consumers and Employees Right Now

Luxury Beat

As I write this, the travel industry is beginning to see some light at the end of the tunnel. The recovery will be likely tentative at first, and focus on staycations, drives, and short-haul trips. But there are so many dependencies—transmission rates, social-distancing regulations, border closures—that it’s impossible to make meaningful predictions. I’m curious to hear when you anticipate business returning, where your forward bookings are concentrated, and when you may start to bring employees back. Meanwhile, in the here and now, things remain confusing. For every story about reopening there is another about the virus resurfacing. That makes it particularly challenging to communicate, both externally to consumers and internally to nurture company culture. These topics were on the agenda of a series of roundtable discussion with industry leaders that…

13Mar 2020 by Peter Bates

My Take on Coronavirus: Why Now Is the Time to Keep Talking

Luxury Beat

What a difference a month makes. Just a few weeks ago, I sent you the results of our annual Pulse of the Industry Survey, reflecting a mostly sunny outlook for 2020. Most respondents forecasted continued growth in revenue and bookings, their optimism quashing any concerns about terrorism, natural disasters, or economic uncertainty. But then Wuhan sneezed, and the rest of the world started catching cold. I don’t have to tell you about the major disruptions that coronavirus has already caused in our business. The real questions are: How bad will things get? And what do we do to get through? I’m afraid none of us can answer the first question, which depends largely on the speed and lethality of the virus as it spreads around the world. The initial analyses…

21Jan 2020 by Peter Bates

Luxury Travel Will Continue to Surge in 2020, Say Top Industry Executives

Luxury Beat

A strong economy prevails over concerns about global instability, according to Strategic Vision’s 2020 Pulse of the Industry Survey. At the same time, travelers have become more conscious of their impact on the places they visit. Political and economic instability are no match for the insatiable drive to travel, according to a recent survey of top luxury travel executives, who predict yet another banner year for the segment. In its annual Pulse of the Industry Survey, travel consultancy Strategic Vision reports that 70% of respondents forecast an increase in revenues in 2020, while 50% described their clients’ attitudes as “optimistic” about both domestic and international travel. That positive sentiment largely overrides concerns about potential disruptors such as natural disasters, political unrest, and economic hiccups from Brexit or trade disputes. Luxury…