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Monday, February 26, 2024

Launch of ‘Travalyst’ threatens companies which do not become more environmentally minded, says GlobalData

Tourism related partners that do not get involved with ‘Travalyst’, or become more sustainability-focused, face losing credibility and missing out on future gains, says GlobalData, a leading data and analytics company.

Formed by the Duke of Sussex alongside companies Ctrip, Skyscanner, Booking.com, and TripAdvisor, the adventurous global initiative seeks to ‘change the impact of travel, for good’.

Environment, sustainability, and overtourism are buzzwords currently at the forefront of global news and media. The initiative has been launched at a time where environmental activists are forever in the limelight causing continuous protest such as the ‘Flygskam’ throughout Europe or the international movement of ‘Extinction Rebellion’.

Johanna Bonhill-Smith, Travel & Tourism Analyst at GlobalData, says: “Whilst some sort of environmental initiative has been a long time coming amid global turmoil, insight into the yet to be unannounced objectives remain hazy. Despite this, adhering to part of the ‘Travalyst’ or other sustainable initiatives will soon become the social norm. Rather than solely factoring in affordability, future travelers will more commonly seek tourism companies with a good environmental record.”

GlobalData’s consumer survey Q4 (2018) discovered that eco-tourism holidays are one of the least common holiday types across all generations.

Despite this, environmental concerns are becoming ever more publicized and it is increasingly likely the number of travelers influenced by environmental standards will continue to rise.

Bonhill-Smith continues: “Following on from the rise of responsible travel, more tour operators including G Adventures and Intrepid Travel are capitalizing on providing authentic experiences for travelers that aim to help a local destination.”

Major hospitality players are increasingly focusing on waste management, such as Hilton ending the use of single-use plastics, while others plan to ban the use of plastic straws. Big airline brands such as Ryanair and American Airlines have also ventured to end single-use plastics on flights.

Bonhill-Smith concludes: “The launch of the ‘Travalyst’ is a daunting prospect for co-operators as objectives seem broad and may involve hidden costs. The lack of insight into how the initiative will operate may be a key deterrent for some travel businesses. Destinations, attractions, transport, hotels and airlines are still yet to join the foundation.

“As millennials and Generation Z begin to join the workforce, tourism-related companies will take further steps to minimize global environmental impacts, whether with ‘Travalyst’ or by forming alternative initiatives.”

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