Stats: Travelers Are Brushing Off Recession Predictions

Despite forecasts of a declining economy and a potential slide into a full-blown recession, travelers overwhelmingly are keeping their itineraries for international and domestic trips this year, according to the recent Global Rescue spring 2023 "Travelers Sentiment and Safety Survey" of experienced travelers.  

More than three-quarters (76 percent) of travelers said predictions of a recession have not caused them to cancel or postpone international travel in 2023. Only 4 percent of respondents stated that expectations of an economic recession compelled them to call off or reschedule an upcoming trip abroad.  

Travelers are skirting economic projections from financial professionals signaling the U.S. economy is headed for a recession. “Whether travelers disbelieve an economic slowdown is looming or adopted a post-pandemic determination to travel while they can, they are brushing aside recession hesitation and keeping their plans to travel internationally,” said Dan Richards, CEO of The Global Rescue Companies, a provider of medical, security, evacuation and travel risk management services.

Adventure trips (35 percent) are the leading kind of travel respondents are planning for 2023, followed by fishing trips (29 percent), beach getaways (27 percent) and hiking excursions (24 percent). Two-thirds (66 percent) of respondents revealed they plan to travel to destinations where they have never been. Africa led all destinations chosen by respondents, followed by Italy, Alaska, Spain and Iceland

In addition, traveler concerns about trip disruption continue to shift away from pandemic-related worries. Having an injury or illness (47 percent) is the overwhelming fear among respondents followed distantly by civil unrest (13 percent), trip cancelation (11 percent), and losing important things like a passport, wallet or purse (9 percent).  

Most will travel as a couple (45 percent) while another quarter (26 percent) will journey with family or a group of friends. Solo travelers comprise 23 percent of those making an international trip. 

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