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New consumer research shows that there has been a dramatic shift in the way people plan, book and spend on their trips since the pandemic ended. Travel price comparison app Hopper today released its 2023 Travel Trends Report, taking a holistic approach to examining the key consumer trends currently shaping the travel industry.
The report is based on Hopper user search data and online searches from multiple global distribution system partners and across the Internet. Its statistics are understood in the app from the responses of more than 1,500 Hopper users.
Some key highlights from the 2023 Travel Trends Report include:
Although travelers are looking to spend more, price anxiety is widespread.
— 60 percent of survey participants said they plan to spend more on travel in 2023 than last year.
– The increase in price-checking behavior of actual travelers has shown a greater stress on prices. Travel shoppers are now checking their travel prices on the Hopper app an average of 16 times before booking. This is a 33 percent increase compared to pre-pandemic 2019 regulations.
Gen Z and Millennials plan to travel more and spend more in the process:
— As inflation continues to rise and experts worry that a recession is looming, more than half (53 percent) of survey participants said they plan to travel more this year than in previous years.
– Travelers are spending more for more flexibility, protection and a more diverse vacation experience. On average, people booking flights on Hopper are spending $30 more on things like changes and cancellations for any reason, flight disruption insurance and price locks to provide extra peace of mind.
The question of overseas travel seems to have backfired:
– Europe remains the most sought-after international region among American travelers, followed by Asia, which increased its market share by 10 percent from 2021 lows.
– Searches for international travel by US consumers are currently at 53 percent, compared to 56 percent before the pandemic, indicating a strong recovery in demand for overseas travel in 2022.
Friends celebrating the arrival of 2023 with some sparklers. (Photo via iStock/E+/RgStudio)
Flight and hotel bookings are being made more last minute than ever.
– Advance booking times for domestic travel have been reduced by nearly 10 percent, with reservations made three weeks in advance of travelers’ departure. In pre-pandemic 2019, the advance booking window was typically three to four weeks in advance.
— For travel to Europe—currently the most popular international destination among American travelers—advance booking times are down 20 percent compared to 2019, moving a full two weeks closer to travelers’ departure dates.
– On average, 55 percent of hotel stays booked through the Hopper app last year were same-day check-ins. In the first three months of 2023, more last-minute bookings were being made than in 2022, with 63 percent of bookings made on the actual check-in date.
Travelers are generally flexible about their dates and destinations.
– The majority (60 percent) of respondents indicated that they are flexible about where or when they are willing to travel (or both) when they begin their travel planning process.
– Widespread adoption of remote work arrangements has increased flexibility for many people. Of the hopper respondents with flexible work schedules, 52 percent indicated that they plan to travel more frequently, take longer trips, and travel mid-week.
– Nearly one-third of those surveyed have traveled or expect to travel for work in 2023, and 77 percent plan to take personal vacations on those trips.
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