Travel intent is on the rise and looks to be on a steady path with growth, according to Expedia Group’s “Traveler Insights Report” for Q4 2022. People continue to be eager to travel again and are willing to invest: Nearly half (46 percent) of consumers globally say travel is more important to them now compared to pre-pandemic, and nearly as many (43 percent) are backing up that claim by upping their travel budget next year.
Notably, nearly eight in 10 consumers will take at least one leisure trip in the next 12 months, and more than half (54 percent) will take at least two leisure trips.
- Sustained traveler interest: Following multiple quarters of search growth globally, search volumes across Expedia Group branded sites in Q3 2022 were flat quarter-over-quarter, suggesting steady traveler interest and enthusiasm for travel.
- Travelers open to planning further out: Most travelers are still planning trips in the near-term, with global share of searches in the 0- to 90-day window holding steady quarter-over-quarter. That said, some travelers are beginning to plan further out, with the 180-plus day window growing for travelers in EMEA and NORAM.
- Holiday travel and beyond: Travelers are planning further out for their holidays. Globally, searches for travel during November and December are up more than 60 percent year-over-year, and searches for 2023 travel are up by 65 percent year-over-year.
- City breaks grow in popularity: Major cities like New York, London and Singapore maintained their presence on the top 10 list of booked destinations in Q3 2022. An increasing number of city break destinations—including Boston, Berlin and Bangkok—also joined the top 10.
In addition, a recent quarterly report and custom research by Expedia have highlighted the importance consumers place on sustainability and inclusion. The good news is that the industry is listening. According to the “Traveler Value Index 2023” study, 74 percent of travel industry professionals globally said their organization provides information to customers on how they can be more sustainable travelers.
Many organizations have also already taken steps to improve inclusivity and accessibility, with even more to come. In the study, four in five travel industry professionals agreed that promoting inclusivity and accessibility for all travelers is a top priority for their business in 2022.
When it comes to accommodations, “deep cleaning” is no longer top of mind; rather, travelers most value the ability to get a full refund if they need to cancel. Around half of the consumers said they would never book non-refundable lodging (47 percent) or transportation (51 percent) domestically, even if it meant securing a lower price.
Source: Expedia Group