{"id":16183,"date":"2021-09-05T15:23:09","date_gmt":"2021-09-05T09:23:09","guid":{"rendered":"https:\/\/bbf.digital\/new\/?p=16183"},"modified":"2021-09-05T15:23:09","modified_gmt":"2021-09-05T09:23:09","slug":"mastercard-economics-institute-one-in-five-countries-approach-pre-pandemic-domestic-flight-levels-international-travel-lags-behind-global-fuel-spending-is-up-13-over-2019-peak-reflecting-a-strong","status":"publish","type":"post","link":"https:\/\/bbf.digital\/new\/mastercard-economics-institute-one-in-five-countries-approach-pre-pandemic-domestic-flight-levels-international-travel-lags-behind-global-fuel-spending-is-up-13-over-2019-peak-reflecting-a-strong","title":{"rendered":"MASTERCARD ECONOMICS INSTITUTE: ONE IN FIVE COUNTRIES APPROACH PRE-PANDEMIC DOMESTIC FLIGHT LEVELS; INTERNATIONAL TRAVEL LAGS BEHIND  GLOBAL FUEL SPENDING IS UP 13%* OVER 2019 PEAK, REFLECTING A STRONG SURGE IN GROUND TRAVEL IN MARKETS INCLUDING AUSTRALIA, SINGAPORE, THE PHILIPPINES AND HONG KONG IN ASIA PACIFIC"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Mastercard Economics Institute: One in Five Countries Approach          Pre-Pandemic Domestic Flight Levels; International Travel Lags Behind<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Global fuel spending is up 13%* over 2019 peak, reflecting a strong surge in ground travel in markets including Australia, Singapore, The Philippines and Hong Kong in Asia Pacific.  <\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">After flights were largely grounded and travelers stayed home in  2020, the return to travel has become one of the most anticipated-and uncertain-activities of 2021. Today, Mastercard released <\/span><a href=\"https:\/\/go.mastercardservices.com\/ready-takeoff-apac-press\"><span style=\"font-weight: 400;\">Recovery Insights: Ready for Takeoff?<\/span><\/a><span style=\"font-weight: 400;\">,<\/span><span style=\"font-weight: 400;\"> a view into key travel trends in the air and on the ground, around the world. While the global travel recovery remains uneven, one-fifth of countries studied have returned to at least 90% of pre-pandemic levels for domestic flight bookings; with Australia surpassing the global average with bookings at 116%.  <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The report draws on aggregated and anonymized sales activity across the global Mastercard network, along with third-party data sets and proprietary analysis by the Mastercard Economics Institute, to better understand the  next phase for travel, its drivers and challenges. This includes the balance between leisure and business, local and long-distance, and saving and spending. The report also looks at the  spending  categories seeing an uptick and what they signal  for travel recovery.    <\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;Although many markets in Asia Pacific are yet to see international borders open, there are some early bright spots in domestic travel recovery,&#8221; said David Mann, chief economist, AP &#038; MEA of the Mastercard Economics Institute. &#8220;As travel corridors continue to open and flourish across the US and Europe, Mastercard believes the pent-up demand in Asia Pacific, exacerbated by extended lockdowns, will follow a similar trajectory in both business and leisure travel, as the region cautiously re-opens its borders.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some key findings from the report include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Business travel lags behind leisure travel by approximately four months globally<\/b><span style=\"font-weight: 400;\">. Business travel is showing recovery signs worldwide, with Australian domestic business travel bookings at nearly 80% of pre-Covid levels, and US domestic business travel back up to just over half of its 2019 average level. Australia, Malaysia, and The Philippines are all seeing business travel bookings outstripping leisure bookings, offering a glimmer of hope for a strong recovery once travel corridors open up.  <\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Globally fuel spending is up 13%* from its previous peak in 2019. <\/b><span style=\"font-weight: 400;\">Road trips-the big trend of 2020-are still holding their course. The report shows a robust demand for domestic ground travel, with fuel spending up in Singapore, Hong Kong, The Philippines, and Australia, where areas such as Margaret River and Dunsborough are seeing a swell in local visitors.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>With border closures still in place, pent-up savings are helping to drive sales across a variety of categories. <\/b><span style=\"font-weight: 400;\">For instance, sales at toupee and wigs stores have increased 81% in Australia in the past year, compared to pre-pandemic, and<\/span> <span style=\"font-weight: 400;\">sales for beauty salons and luggage stores are also up. Meanwhile, spending at boat dealers (+30%) and bike stores (+62%) grew across the world, as pent-up demand collided with greater savings due to fiscal stimulus and travel restrictions.  <\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">&#8220;The past year has only reinforced how important travel is-to our connection with friends, family and the broader world, to our business communities, and to our personal fulfillment,&#8221; said Raj Seshadri, president of data and services, Mastercard. &#8220;The economic implications of tourism are vast, with virtually no industry untouched when travelers stay home. Through Recovery Insights, Mastercard has helped airlines redesign travel routes, retailers rejig inventory, and cities understand shifts in neighborhood spending. It&#8217;s about enabling smarter decisions for better outcomes-today and tomorrow.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mastercard launched <\/span><a href=\"https:\/\/www.mastercard.com\/news\/press\/press-releases\/2020\/may\/mastercard-launches-recovery-insights-initiative-to-inform-business-and-government-economic-response-efforts\/\"><b>Recovery Insights<\/b><\/a><span style=\"font-weight: 400;\"> to help businesses and governments better manage the economic risks presented by Covid-19. <\/span><span style=\"font-weight: 400;\">Through this initiative, Mastercard has provided data-driven insights, analytics and other services to businesses and governments to help them understand ever-changing consumer spending trends and how to address them.  <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For instance, early last year, a leading Asia-Pacific airline leveraged Mastercard Test &#038; Learn to understand what was driving performance during the pandemic. It was discovered that trip duration greater than seven days grew by nearly two-thirds, and tickets bought months in advance grew by roughly half. Building on these insights, the airline was able to instantly adjust their strategy in real-time to optimize their sales and better serve travelers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Travelers who might be interested in procuring reasonably priced tickets for themselves could take help from various offers using abundant flight search engines similar to Flight Factory. <a href=\"https:\/\/flightfactory.co.za\">Cheap domestic flights<\/a> (or even international ones) could always prove to be a boon, when the money factor comes into consideration.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mastercard provides peace of mind to our cardholders ensuring ease, simplicity and value as they travel. For select cardholders:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/travel.mastercard.com\/selector?returnUrl=%2Fuser%2Flogin\"><b>Mastercard Travel &#038; Lifestyle Services<\/b><\/a> <span style=\"font-weight: 400;\">helps cardholders return to travel through travel planning, offers, booking and 24\/7 hands-on concierge support &#8211; a service even more important now with ever-changing travel rules and regulations along with health concerns.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">With the lowest hotel rate and hotel stay guarantees-along with insurance coverage for trip cancellations, lost luggage, ride share protection, rental cars and more-cardholders can have peace of mind that they will be covered during their travels, always getting the best value and exactly what they paid for.    <\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Plus, <\/span><a href=\"https:\/\/www.priceless.com\/\"><b>Priceless.com<\/b><\/a><span style=\"font-weight: 400;\"> provides travelers with once-in-a-lifetime experiences, offers, such as <\/span><b>Mastercard Travel Rewards<\/b><span style=\"font-weight: 400;\">, and benefits at their destinations.<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n\n    <div class=\"xs_social_share_widget xs_share_url after_content \t\tmain_content  wslu-style-1 wslu-share-box-shaped wslu-fill-colored wslu-none wslu-share-horizontal wslu-theme-font-no wslu-main_content\">\n\n\t\t\n        <ul>\n\t\t\t        <\/ul>\n    <\/div> \n","protected":false},"excerpt":{"rendered":"<p>Mastercard Economics Institute: One in Five Countries Approach Pre-Pandemic Domestic Flight Levels; International Travel Lags Behind Global fuel spending is up 13%* over 2019 peak, reflecting a strong surge in ground travel in markets including Australia, Singapore, The Philippines and Hong Kong in Asia Pacific. \u00a0 After flights were largely grounded and travelers stayed home [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":16165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-16183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-magazine-cover-story"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v25.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MASTERCARD ECONOMICS INSTITUTE: ONE IN FIVE COUNTRIES APPROACH PRE-PANDEMIC DOMESTIC FLIGHT LEVELS; INTERNATIONAL TRAVEL LAGS BEHIND GLOBAL FUEL SPENDING IS UP 13%* OVER 2019 PEAK, REFLECTING A STRONG SURGE IN GROUND TRAVEL IN MARKETS INCLUDING AUSTRALIA, SINGAPORE, THE PHILIPPINES AND HONG KONG IN ASIA PACIFIC | BBF Digital<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bbf.digital\/new\/mastercard-economics-institute-one-in-five-countries-approach-pre-pandemic-domestic-flight-levels-international-travel-lags-behind-global-fuel-spending-is-up-13-over-2019-peak-reflecting-a-strong\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MASTERCARD ECONOMICS INSTITUTE: ONE IN FIVE COUNTRIES APPROACH PRE-PANDEMIC DOMESTIC FLIGHT LEVELS; 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INTERNATIONAL TRAVEL LAGS BEHIND GLOBAL FUEL SPENDING IS UP 13%* OVER 2019 PEAK, REFLECTING A STRONG SURGE IN GROUND TRAVEL IN MARKETS INCLUDING AUSTRALIA, SINGAPORE, THE PHILIPPINES AND HONG KONG IN ASIA PACIFIC | BBF Digital","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bbf.digital\/new\/mastercard-economics-institute-one-in-five-countries-approach-pre-pandemic-domestic-flight-levels-international-travel-lags-behind-global-fuel-spending-is-up-13-over-2019-peak-reflecting-a-strong","og_locale":"en_US","og_type":"article","og_title":"MASTERCARD ECONOMICS INSTITUTE: ONE IN FIVE COUNTRIES APPROACH PRE-PANDEMIC DOMESTIC FLIGHT LEVELS; INTERNATIONAL TRAVEL LAGS BEHIND GLOBAL FUEL SPENDING IS UP 13%* OVER 2019 PEAK, REFLECTING A STRONG SURGE IN GROUND TRAVEL IN MARKETS INCLUDING AUSTRALIA, SINGAPORE, THE PHILIPPINES AND HONG KONG IN ASIA PACIFIC","og_description":"Mastercard Economics Institute: One in Five Countries Approach Pre-Pandemic Domestic Flight Levels; 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