Travel industry invests in rebuilding customer relationships
According to this, advertising spending by tourism professionals in these markets should grow by 24 percent in 2021 after a significant slump in 2020, and thus twice as fast as the advertising market as a whole. In the coming year, spending is expected to increase again by 36 percent and by a further 19 percent in 2023. The thirteen markets examined, including Germany, together account for 74 percent of total global advertising spending. The pent-up demand for travel will therefore lead to rapid growth in advertising spending on travel in the years to come. The advertising market in the German travel industry will exceed the pre-pandemic level by an estimated 31 million euros in 2023. In total, it will then be 366 million euros.
“In Germany, too, advertising spending in the travel industry fell by a drastic 42.5 percent in 2020,” said Jennifer Andree, CEO of Zenith in Germany. “This year spending will increase by 16.6 percent, next year by 41 percent and in 2023 by another 15.8 percent.”
Advertisers in the travel industry in the markets examined spend more on digital advertising than the average for all brands, namely 63 percent in 2020 compared to 58 percent on average. Zenith predicts that travel brand spending on digital advertising will increase by 6 percent annually between 2019 and 2023. Although the German market traditionally relies more on print advertising in the travel industry, digital spending is increasing continuously here too. In 2020 the proportion was 18 percent and this is expected to increase to 22 percent in 2023.