In the midst of the current global crisis, everyone is looking for answers and accurate, up-to-the minute data is key, says Jesper Palmqvist, STR Area Director – Asia Pacific. Talking to David, he explains that their role at STR is to make the unpredictable as predictable as possible, by sourcing and blending different data points to draw meaningful conclusions. This includes looking at how certain destinations dealt with past crises, as well as learning from those countries opening up first, such as China and, more recently, Vietnam and Thailand.
Jesper acknowledges, however, that can you cannot take a one-size-fits-all approach, as each country will emerge from this differently. While some markets may recover faster, he says that this recovery will be U-shaped rather than V-shaped, with most Asian markets not returning to 2019 business levels until 2024.