Building on the findings from our Path to Purchase research, the latest installment of our quarterly Traveler Insights report looks at Expedia Group’s exclusive first-party traveler search and booking data to show shifting demand patterns and changing traveler behaviors.
It’s been a sizzling summer of travel, but this will likely be the peak of the post-pandemic boom. As longer nights start to draw in, the urge to splurge on pricey trips is bound to fade.
Canadians Are Willing to Incur Debt and Reduce Their Grocery Expenses in Order to Travel
On average, consumers are planning to take three trips before the end of the year with a third (32%) intending to invest more in travel this year than they did in 2022, despite the financial crunch.
The International Air Transport Association (IATA) reported high levels of confidence among travelers for the peak Northern summer travel holiday season. This corresponds with first quarter 2023 forward bookings data for May – September which is tracking at 35% above 2022 levels.
The travel sector is forecast to reach $9.5 trillion in 2023, just 5% shy of its gross domestic product contribution in 2019, according to the WTTC’s 2023 Economic Impact Research.
The Travel Association estimates around two million British holidaymakers are set to head overseas over the Easter Bank Holiday weekend of 7 April-10 April, with Good Friday the busiest day for travel.
International trips are on the rise this year. According to AAA booking data, international travel is up more than 200% compared to 2022. Hotel bookings are seeing the biggest jump, up more than 300% over last year. The spike in demand is driving up airfares. Ticket prices for international trips are up more than 30%.
Data revealed on the one-year anniversary of the UK lifting its COVID travel restrictions
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