Travellers set to splurge on international travel this year
“Demand for travel is now stronger than ever” says WTTC President & CEO Julia Simpson
MADRID, Jan. 20, 2023 /PRNewswire/ — A major new report by World Travel & Tourism Council (WTTC) and Trip.com Group, together with Deloitte, reveals a heightened appetite for sustainable tourism amongst consumers, with 69% of travellers actively seeking sustainable travel options1.
In this follow-up report, WTTC joined forces again with leading global travel service provider, Trip.com Group and its major consumer brands Trip.com, Ctrip and Skyscanner, with additional data sourced from Deloitte, to analyse the trends that shaped the Travel & Tourism sector last year and will continue to do so over 2023.
The report, “A world in motion: shifting consumer travel trends in 2022 and beyond”, shows that sustainability is a key element of the travel agenda, with travellers eager to reduce their carbon footprint and support sustainable tourism.
According to a survey included in the report, three quarters of travellers are considering travelling more sustainably in the future1 and nearly 60% have chosen more sustainable travel options in the last couple of years1.
Another survey also found that around three quarters of high-end travellers are willing to pay extra to make their trips more sustainable2.
Last year, following more than two years of travel disruption, travellers made clear their wanderlust is very much alive, with a 109% increase of international overnight arrivals, compared to 2021.
According to the report, last year consumers were willing to stretch their budget for their holiday plans, with 86% of travellers planning on spending the same amount or more on international travel than in 20193, with U.S. tourists leading the list as big spenders4.
But 2023 is looking even better in terms of travellers’ spend. Despite concerns about inflation and the cost-of-living crisis around the world, nearly a third (31%) of travellers said they intend to spend more on international travel this year than in 20223.
Additionally, according to Deloitte’s ‘Global State of the Consumer Tracker’, last year more than half (53%) of global consumers surveyed during the summer said they plan to stay in a hotel over the following three months4.
Julia Simpson, WTTC President & CEO, said: “The demand for travel is now stronger than ever and our report shows that this year we will see a significant bounce back. 2023 is set to be a very strong year for Travel & Tourism.”
“Sustainability is top of travellers’ agenda, and consumers highlight the value they put on protecting nature and travelling responsibly.”
Jane Sun, Trip.com Group CEO, said: “Travel & Tourism is a powerful force in driving the global economy, creating jobs, stimulating economic growth, and lifting communities out of poverty.”
“The Asia-Pacific Region, with its rapidly growing middle-class and dynamic economies, is well-positioned to capitalise on the growth of the industry and take its place as a leader in the global tourism economy.”
“I’m optimistic about the positive momentum for the global resumption and growth of travel in 2023, primarily driven by mainland Chinese consumers, which will help accelerate worldwide recovery and development.”
Scott Rosenberger, Deloitte Global Transportation, Hospitality & Services Sector Leader: “Travel is rebounding from the pandemic while innovating and meeting the demands of more modern alternative travel-types, sustainable travel, luxury travel, and much more.
“Even the rise in inflation-driven financial concerns is not slowing the pace; incredibly travel is being prioritized and flexible/remote work arrangements are creating new opportunities. We are actively engaging with our clients as they embrace these new trends and create memorable experiences for consumers.”
Other findings revealed in the report include:
2022 sun and sea package holiday sales are estimated to be up 75% compared to the previous year5
Last year during the summer, international arrivals in European sun and beach destinations were just 15% below 2019 levels6
According to WTTC’s recent ‘Cities Economic Impact Research’, in 2022 visits to major cities are expected to see a 58% year-on-year increase, less than 14% below 2019 levels
Luxury holidays will prove particularly popular, with sales of luxury hotels expected to reach $92 billion by 2025 (compared to $76 billion in 2019)5
In a survey, nearly 60% of travellers said they were either already paying to offset their carbon emissions or considering it if the price was right1
To access more information and read the report in full, please click https://wttc.org/consumer-trends.
-ends-
Notes to editor:
1 Trip.com
2 Virtuoso
3 Skyscanner
4 Deloitte
5 Euromonitor
6 ForwardKeys
About WTTC
The Voice of Travel & Tourism.
WTTC promotes sustainable growth for the Travel & Tourism sector, working with governments and international institutions to create jobs, to drive exports and to generate prosperity. Council Members are the Chairs, Presidents and Chief Executives of the world’s leading private sector Travel & Tourism businesses.
For further information, please visit: WTTC.org
About Trip.com Group
Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission “to pursue the perfect trip for a better world”. Find out more about Trip.com Group here:group.trip.com.
About Deloitte
Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. Our professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 175-plus year history, Deloitte spans more than 150 countries and territories.
Learn how Deloitte’s 415,000 people worldwide make an impact that matters at deloitte.com.
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SOURCE Trip.com Group