As Americans report lower anticipated travel budgets, they predict there will be less price gouging by travel companies. Meanwhile, on the marketing front, TikTok and podcasting continue to grow their reach as resources for travel inspiration.
Even with tighter budgets, Americans don’t appear to be sacrificing their travel. Instead, many anticipate spending differently on their trips, making compromises on food and dining experiences and shopping purchases over shortening trip days or even scrimping on lodging.
European travel recovery continued in the second quarter of 2023, owing to high consumer demand despite stubborn inflation and increasing travel costs
Continued high excitement for, and willingness to prioritize, travel is driving another record summer - but travelers are shocked at the prices, and many are willing to make trip changes as a result.
Americans’ love for travel continues, but the industry should heed warning signs - particularly feelings of a declining travel experience and the value they receive for their money - which may challenge this devotion.
European foreign tourist arrivals were 18% below 2019 levels for the full year of 2022 - Recovery in flight volumes across Europe continues to stall in the early months of 2023, as supply lags demand - The ongoing war in Ukraine continues to hinder travel recovery in Northern and Eastern European destinations
Current financial sentiment may keep Americans from spending as freely as they did a year ago, however record levels of travel enthusiasm keeps them planning trips. Meanwhile, pet peeves about the travel experience abound, from transit delays to snoring seatmates.
The outlook for travel over the next months looks bright. Americans’ excitement for travel is at record levels and travelers’ reported average expected annual travel spending hit $4,677. American travelers say they will prioritize leisure travel in their household income’s spending in the coming months–over home improvements, clothing, entertainment and even dining out in restaurants.
The State of the American Traveler in March 2023 from Destination Analysts shows Americans will prioritize travel in their household income’s spending in the coming months - over home improvements, clothing, entertainment and even dining out in restaurants.
Americans are feeling the love for travel as economic anxieties somewhat abate