Good morning from Skift. It’s Thursday, March 24, in New York City. Here’s what you need to know about the business of travel today.
Today’s edition of Skift’s daily podcast discusses the continued demand for travel in Europe despite the ongoing war in Ukraine, how tour operators are tailoring products for younger families, and a proposed mandate for cleaner flying in the United States.
The impact of the war in Ukraine on European tourism is becoming clearer, and while demand for travel to the continent is holding steady, a prolonged conflict could have a devastating effect on Europe’s tourism recovery, writes Global Tourism Reporter Lebawit Lily Girma.
The European Travel Commission conducted its first official assessment since the start of the war, which analyzed how Europe’s tourism rebound will fare amid factors such as war and inflation driving up the cost of travel. The commission found that pent-up demand for travel to Europe is helping soften the blow from the Ukraine War and that intra-Europe travel demand is still strong.
Nevertheless, commission president Luis Araujo said the crisis in Ukraine would cause a setback for the continent’s tourism rebound, especially in Eastern Europe. Travel analytics firm ForwardKeys also found that destinations near Russia and Ukraine and those popular with Russian travelers, such as Mediterranean coastal towns, will experience a direct hit from the war.
Next, the aviation industry wants to make flying more sustainable but airlines have been vague in revealing what their carbon emissions are. But the U.S. Securities and Exchange Commission is proposing a new rule that would require most airlines to disclose actual greenhouse gas emissions as soon as 2024, writes Airlines Reporter Edward Russell.
The agency would mandate large publicly-listed companies, which include most U.S. airlines, disclose carbon emissions and any material risks climate change poses to their business operations in 2024. However, smaller companies would have until 2025 or 2026 to disclose their carbon emissions. Only two publicly traded carriers, Mesa Airlines and Sun Country Airlines, are classified as such.
Finally, tour operators specializing in luxury cultural trips — many of which take travelers to places such as art museums and archaeological sites — have generally focused on attracting older guests by largely using lecture-like presentations. But such companies are targeting a younger audience by increasing their use of technology, reports Editorial Assistant Rashaad Jorden.
As more families are making plans to travel together this year, tour operators providing educational experiences for a luxury market have been tailoring their products to a younger demographic generally not eager to hear professor-like discussions. Adam Sebba, CEO and co-founder of newly launched UK tour operator The Luminaire, said his company is creating augmented reality and virtual content with its experts. The Luminaire aims to use the technology to make historical sites, such as the Colosseum in Rome, come to life.