What: Travelers Are Ready and Willing to Spend More on Travel Than They Did Pre-Pandemic
According to a recent survey by global payment partner Flywire, 72% of U.S. travelers say they will spend more money on travel in 2022 than they have in the past five years, and 76% would pay more for trips with additional health and safety protocols. Another 81% of respondents say the money they have saved from not foregoing traveling during the COVID-19 pandemic will help boost their travel budget this year and next.
Why It Matters: Advisors Can Tap into the Pent-up Demand for Travel When Approaching Clients
In general, the survey shows strong pent-up demand for travel, with 42% of U.S. travelers planning to take a domestic trip this summer and another 29% expecting to travel internationally in 2022. The research also shows that 65% of respondents say they plan to take longer trips than usual after the pandemic. In addition, 85% feel they are missing out when they have not traveled in a while, and 37% feel sad and depressed about not being able to travel. Travel advisors should take note of these positive indicators and emotional responses when reaching out to clients.
- Most travelers (63%) are willing to pay more now to secure a spot on a trip they will take in the future.
- Beach vacations lead the way with respondents (35%), followed by trips with family and friends (27%) and city getaways (25%).
- According to the survey, international consumers say their first post-pandemic trips will be domestic destinations (39%), Western Europe (30%), North America (24%) and the Caribbean (23%).