Travel Trends - Cost Is Key: Flight Prices Jumped By 58% And Train Prices Stayed Stable, With Total Rail Travel Increasing By 20% From 2019 To 2023
The Omio Group released its 2023 trend report, providing key insights into global travel behaviours across different transport modes. According to Omio data (comparing Q1 2019 with Q1 2023), travel searches are up 133% overall, with company revenue up by 200%, showing that travel remains a high priority for consumers.
Comparing search data from Q1 2019 with Q1 2023, Omio saw an increase of 223% in flight searches, yet corresponding booking data indicates consumers are booking more trips by rail. Looking at the top 100 routes booked on Omio, there was a 20% increase of total train bookings and a 54% decrease of total flight bookings, when comparing Q1 2019 with Q1 2023.
Naren Shaam, CEO and Founder of the Omio Group, said: "As global restrictions lift, we believe travellers will book train travel for longer distances where previously short-haul flights would have served. This has partially been driven by cost, but also by an increased choice of options (thanks to both rail competition in Europe and digital products like Omio). An additional factor is the increased interest in environmentally conscious travel."
Further data highlights rail travel is more cost-effective, comparing Q1 2019 to Q1 2023. On average, the amount paid per booking for flights has risen by 58% while the average cost of a train booking dropped by 3%. Various factors, such as new EU policies that enforce competition in the rail sector, as well as consumers resuming booking tickets in advance, could cause stable rail prices.
Yesh Munnangi, CEO of Rome2Rio, predicts that travel will continue to evolve: "Travel intent is stronger than ever, but I believe that the purpose of a trip will become multiple, partially driven by cost considerations. For instance, travellers will book business trips and bring family or meet friends to add a leisure element."
Shaam adds: "Our goal is to make travel accessible to everyone, and we're proud to offer a wide range of travel options at competitive prices. We are constantly improving our platform to ensure that our customers have the best possible experience when booking their travel."
As the world recovers from the COVID-19 pandemic, the Omio Group continues its positive growth trajectory. The company's dedication to digital transformation, combined with its commitment to customer satisfaction, makes it a leader in the travel industry.
View the whole Omio Mobility Report here, including country-specific breakdowns.