Last week, TTC Director, Martin Alcock joined Deloitte and OFX on a webinar hosted by ABTA. They explored how travel businesses can manage FX Risk in uncertain times.
Here are our top takeaways:
- While the recovery will be uneven, customers do want to get back to normal and travel again.
- Safety, flexibility, digital lifestyle, authenticity and sustainability are all important areas for travel consumers.
- Travel businesses must have a flexible cash flow model to be able to react when government advice changes.
- Arguably, larger businesses can be more flexible; however, small companies can articulate their proposition better.
- It’s critical that you stay on top of events that drive currency shifts.
- Don’t leave things until the last minute, have a plan in place for your foreign currency management.
Below is a clip of one of the insights Martin shared. He discusses the importance of understanding your customers and tailoring your marketing and products to them. You can view the full webinar on abta.com.
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