Close to 80% of the Ultra High Net Worth Individuals (UHNWI) ($30million +) in India are probably to minimize international travel for their enterprise or leisure in 2021, owing to the worldwide uncertainties due to the on-going Covid-19 pandemic. In the context to Asia Pacific (APAC), post-Pandemic, 89% of UHNWIs would minimize their international travel pertaining to work though 91% would minimize their trips abroad for leisure purposes, reveals a survey by Knight Frank.
All the respondents from nations such as Japan, Taiwan, Ireland, and Zambia have mentioned they would minimize all enterprise-connected international trips. In contrast to that, all the respondents from nations like the Chinese Mainland, Taiwan, Ireland, Switzerland, and Zambia have mentioned they would minimize all leisure based international trips.
In 2020, 4% of Indian UHNWIs cited that they are much less applying private jets to enable in minimizing their carbon footprint globally.
Survey: Will you minimize your International travel as a outcome of Covid-19?
Use of Private Aviation in 2021
43% of ultra-wealthy Indians mentioned they are more probably to look at private aviation for their travelling wants going forward, though 27% are much less probably to look at, and 30% remains unchanged. According to the survey, ultra-wealthy respondents from the United Arab Emirates (75%), Russia (71%), Nigeria (69%), Spain (60%), Canada (60%) and South Africa (60%) have all mentioned they are more probably to use private aviation for travelling purposes, post-Covid.
Commenting on the similar, Shishir Baijal, Chairman and Managing Director at Knight Frank India, mentioned, “The outbreak of the pandemic has affected global travels. However, global norms for travel are being revised. It may soon be necessary for travellers to show immunity in the form certification of COVID- 19 vaccination. The concept of ‘Vaccine Passport’ is being propagated by many countries, especially those where tourism is a large economic contributor. Travellers will have to prove that they are either vaccinated or have negative test to be allowed entry.”
“As the vaccination programme develops in India and globally, we expect travels to resume, though it may be some time before volumes recover to pre-Covid levels. Also, leisure travel is expected to improve faster than corporate travel as Work from Home policies and digital communication are expected to remain enforced for a majority of the current year,” he mentioned.