41% of travellers are also prepared to pay more than 30% extra for adventure and eco-tourism, according to the Voice of the Consumer: Lifestyles Survey, mentioned in Euromonitor’s newly released Sustainable Travel Index 2023.
A resounding 97.8% of travel executives in the Euromonitor International’s Voice of the Industry: Travel Survey stated that AI would have an impact over the next five years.
Gen Z are causing a shake up in the alcoholic and non-alcoholic universes, ushering in a new era of mindful drinking, sober curiosity and ‘dry’ venues and events, according to a Euromonitor International expert.
imultaneous slowdowns and high inflation biggest risks to world’s largest economies
The study identified barriers and opportunities in growing economic sectors across 13 countries in Sub-Saharan Africa
Travel is at full throttle with growth rates through the roof as the industry powers ahead with its recovery from the COVID-19 pandemic, yet now faces significant headwinds from the cost-of-living crisis. To weather the latest storm, travel brands and destinations are tapping into values-based tourism products and services that resonate more with consumers that seek out transformational travel experiences.
Euromonitor notes that consumers spending responsibly but emotionally, the role of digitisation in purchasing processes, female equality demands, and a disruptive Gen Z, are some of the factors that will define global consumer trends in 2023.
Paris has retained the title of the world's leading city destination, followed by Dubai in second place and Amsterdam in third. Madrid came in fourth, while Rome rounded up the top 5.
In its Top 10 Global Consumer Trends 2022 report, Euromonitor profiled consumers according to various behaviors the market insight company is seeing. While not all trends are specific to travel, the changing consumer attitudes will likely have - and are already having - an impact on the industry.