There are reasons for renewed optimism in the travel industry, according to Wendy Olson Killion, global senior vice president of Expedia Group Media Solutions, who spoke Wednesday during the Skift Global Forum. In Q2, Expedia reported a 70 percent increase in search traffic, rising international searches and lengthening search windows.
According to the Q2 Travel Recovery Trend Report by Expedia, “the ongoing rollout of COVID-19 vaccines, expanded vaccine eligibility and production, and changes to travel restrictions around the world contributed to consecutive weeks of positive global search volume.”
In this timeframe, while booking windows from zero to 21 days out were half of all searches, global searches for 22 to 90 days out increased 25 percent, indicating travelers are starting to plan further out. Similarly, most shoppers continue to book domestically but international destinations outpaced domestic destinations during multiple weeks in Q2. Insights from the Expedia Group Traveler Value Index indicate that 60 percent of consumers will travel within their home country and 27 percent will travel internationally during the next 12 months. Surprisingly, “big cities” are showing lots of movement up the boards in terms of most-searched destinations.
People are finding new meaning through travel, according to Olson Killion. It’s “not where you’re going but who you’re going with or who you’re going to see,” she said. On that same front, she noted an increasing interest in diversity and inclusion, as well as sustainability. Nearly two-thirds of Expedia Group’s customers are likely to book a trip due to accommodations having a focus on diversity and/or inclusion, such as being owned by women or people of color, being inclusive of specific groups (such as LGBTQ+), or supporting people with disabilities.
In addition, nearly 60 percent are willing to spend more to make their trip more sustainable. Perhaps not surprisingly, younger generations are more motivated by sustainable practices than older generations with 67 and 64 percent of Gen Zs and Millennials, respectively, saying they would pay more for sustainable features; just 43 percent of Gen Xers and 32 percent of Baby Boomers said such.
In summation, Olson Killion offered three key takeaways:
- Travel will continue to fluctuate but, overall, is trending upward globally
- Travel shoppers are looking internationally but are still booking more locally
- Travelers want to see your inclusion and diversity and sustainability efforts
Source: Expedia Group
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