Innovation in Times of Crisis: What Strategies are Travel Agencies Utilizing to Survive the COVID-19 Crisis?

Abstract

The COVID-19 pandemic has forced a worldwide lockdown creating devastating shock to the world's economy and the activities of millions of companies, not least travel agencies. According to the World Travel and Tourism Council (2020), the coronavirus pandemic could cut 50 million jobs globally in the travel and tourism industry. The main objective of this exploratory research is to discover the strategies currently utilized by small and medium travel agencies to survive this unprecedented circumstances. The research was created with the support of eight travel agency owners from the Netherlands, Denmark, Mexico, Czech Republic, and Spain to create a deeper understanding of what practices companies are utilizing to survive in their specific environment. The results of this research shows that travel agencies are utilizing new practices for this particular crisis compared to the 2008 economic crisis, some of the practices discovered were: Employee engagement measurements, Client Relationship Management, creative Marketing campaigns, receiving Support Packages from the government and in one case, closing down their business entirely. This global event has forced us to adapt as individuals as much as we have to adapt as companies; Innovation in times of crisis and the ability to adapt in this particular crisis may be the life vest that protects the jobs and livelihoods of millions of people across the world.