Jan 24, 2023
The following provides NYSTIA Marketing Analyst Ryan Maercklein's insight and takeaways from the Expedia Group’s article, Destination Marketing Trends for 2023, published by Andrew van der Feltz on January 16th.
This informative article covers a variety of topics pertinent to the travel industry with research derived from their 2023 Traveler Value Index. The subject matters include travel trends, traveler motivations, and the differences between what travelers and travel professionals think. We would like to thank Expedia Group for publishing this data and making it available for us to share.
The key takeaways from the Destination Marketing Trends article are:
- Travel Trends: A seemingly growing demand for travel is a result of travelers’ previous plans having been put on hold since 2020. As a result, the value of travel to consumers is exceeding pre-pandemic levels.
- 46% of travelers say travel is more important to them now than before the pandemic.
- 80% of consumers intend to take at least one leisure trip in the next 12 months while more than 50% plan on taking two.
- In addition to leisure travel, over 33% of travelers are planning a business trip.
- Of business travelers, 76% plan to extend their work trip for leisure purposes
- Traveler Motivations: The considerations of travelers and what they deem adds value to their trip is everchanging. The current top priorities are affordable prices, cleanliness, safety, and sustainability.
- 37% of people now prioritize the lowest price.
- However, 57% still cite experiences as being worth the cost of travel.
- 35% are looking to minimize their exposure to Covid.
- As a result, 51% of travelers still make cleanliness and safety a priority.
- Additionally, 90% of consumers are looking for sustainable travel options.
- Travelers vs. Travel Professionals’ thoughts: It’s important for travel professionals to understand the decision-making factors of travelers. While there is a good grasp of what the consumers believe is important, there seems to be a disconnect about price sensitivity.
- 51% of travelers feel price weighs heavily on decision-making.
- Meanwhile, only 23% of industry professionals believe price is an important factor.