World Travellers set to splurge on international travel this year
(“Demand for travel is now stronger than ever” says WTTC President & CEO Julia Simpson)
BY TTT NEWS NETWORK
MADRID ( SPAIN), 21 JANUARY 2023:
A latest report by World Travel and 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 options.
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 and 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 years.
Another survey also found that around three quarters of high-end travellers are willing to pay extra to make their trips more sustainable.
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 2019, with U.S. tourists leading the list as big spenders.
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 2022.
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 and 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 and 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 and 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,”added Jane Sun.
Scott Rosenberger, Global Transportation, Hospitality and Services Sector leader, Deloitte Global: “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,” he said.
Other findings revealed in the report include:
• 2022 sun and sea package holiday sales are estimated to be up 75% compared to the previous year.
• Last year during the summer, international arrivals in European sun and beach desti-nations were just 15% below 2019 levels.
• 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)
• 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 right.