Travel has got its spark back, but where is it headed? To unpack traveller sentiment, we surveyed more than 24,000 people across 32 countries and territories and discovered that budgets are key to travel planning in 2023.
Travellers want more bang for their buck
Economic uncertainty means travellers are reconsidering their spending. While the outlook is overwhelmingly optimistic, with 50% of travellers saying that investing in a vacation remains a top priority, nearly seven in 10 (68%) – particularly those from Latin America (75%) and Asia Pacific (71%) – will be seeking better value for money.
For more than three in five (63%) this means smartly-timed trips, while 60% plan to prioritise loyalty schemes.
Joining the Genius programme is one way you can lean into this thriftier mindset. After joining Genius, partners on average experience 70% more search result views, 45% more bookings and 40% more revenue even once the cost of the discount is accounted for.
Plan for a mix of early and last-minute bookings
When it comes to timings, traveller opinions can vary – both in terms of when to book and when to travel.
Early planning will be a popular strategy, with 61% planning to map out travel ahead of time in the hope of securing a better deal. In particular, Gen X (60%) and Baby Boomers (54%) are most likely to start their travel searches earlier. On the other hand, 2023 will see Millennials planning more last-minute trips (53%).
To capture this nuanced demand, you can incentivise travellers with both Last-Minute and Early Booker deals. Offered in tangent, these can help to ensure occupancy throughout the year.
Travel windows are also shifting, with off-peak bookings tipped to rise in the new year. Our research found that 53% of global travellers will look outside of the usual windows and consider off-season destinations to make their money stretch further, especially those in Asia Pacific (59%) and North America (55%).
To attract this demand, make sure your availability is up to date. The more rooms you make available in off-peak times, the more travellers you can potentially appeal to.
Off-grid is on trend
Travellers will not only be exploring out of season, but they’re planning to head off the beaten track. Half of those surveyed (51%) are up for visiting lesser-known cities in 2023 – Colombian travellers are particularly intrepid, with 72% planning to venture to far-flung locations.
The more immersive the experience the better, our research suggests: 44% of travellers want their vacations to have a more back-to-basics feel, while 55% are looking for ‘off-grid’ style trips where they can escape from reality – including travellers from Thailand (69%), Mexico (68%), India (65%) and Ireland (64%).
Longer vacations on the horizon
More than half (55%) of travellers believe the best use of their budget is to opt for one or two longer vacations rather than several shorter breaks. Of the travellers planning longer getaways, those from Thailand (76%), China (74%) and India (71%) are most likely to do so.
To make lengthier trips an even more attractive prospective, partners can offer long-stay weekly and monthly rates to ensure accommodation is visible to those searching for stays longer than seven days.
- Seven in 10 travellers are seeking better value for money from their trips
- More than half (53%) plan to be thriftier on vacation than in the past
- 53% are considering off-peak destinations to find deals
- 61% – particularly Gen X and Baby Boomers – are planning in advance
- To make resources stretch further, 51% are considering visiting lesser-known cities
- 55% believe one or two longer vacations offer the best use of budget compared to several shorter breaks