Travel demand shows no signs of softening in 2023

After stocking up on everything from furniture to electronics during the pandemic, consumers are now boosting spending on travel

Feb 15, 2023

Robust demand for travel, despite rising prices, illustrates the premium consumers are putting on experiences after several years spent under lockdown and various other coronavirus-related restrictions.

Key takeaways

  • Over four in 10 of US consumers reduced apparel spending in Q4 in favor of travel;
  • The strong dollar is also making international travel more attractive, as US consumers take advantage of their higher purchasing power abroad;
  • The growing popularity of hybrid work-leisure trips is giving the industry a further boost as travelers upgrade to pricier cabins and opt for longer stays.

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