Travel agents and travel advisors should be aware that not everyone wants to save a lot of money when they decide to take a new trip. Instead, with a pent-up demand for travel, people may be more eager than ever to take the trip they’ve been dreaming of since the lockout began.
GlobalData, a leading data and analytics company, asked respondents around the world if they were concerned about their current personal financial situation. While 34% say they are very concerned, 13% say they are not. That’s more than one in ten travelers who would be willing to spend more for a long, long trip.
Of the travelers who make up this 13%, many will likely be employees who can actually work from home. After spending most of their time at home last year, the desire to travel has reportedly increased, according to Ralph Hollister, travel and tourism analyst at GlobalData.
This desire, coupled with a significant increase in savings, could mean that many of these travelers have developed a spoiler mentality to combat the effects of the pandemic, which has led to boredom and frustration for many. That mindset could apply when those consumers start planning their next vacation, leading them to spend more on higher-end rooms, business-class flights and better rental cars, Hollister said.
A potential trend that already has some appeal in the cruise industry. At the beginning of this year, both cruise lines recorded a record number of customers booking cruises around the world. World cruises are known to be relatively expensive, luxurious and long.
Oceania’s 180-day round-the-world cruise in January sold out in one day, while Silversea’s Southern History – All the World in the Southern Hemisphere cruise sold out in one day earlier this month. Cruises are also scheduled for 2023, but show that an overwhelming number of travelers are more than willing to splurge for these valuable bucket list experiences.
Margie Jordan, owner of Jordan Executive Travel Service, has noticed a trend among her own clients: I have noticed that more and more people want to plan longer vacations. …. We had a year in crisis with multiple zones in multiple closures with ever changing access rules. This stress alone is enough to keep luxury travelers away from negative news as much as possible. They have the means to travel and just need to know if and where they can go. Earlier in the year, travel requests were for places like Fiji, the Maldives and private villas on exotic islands. It was clear that they wanted to go far away, feel the space and stay in their own bubble.
Maldives. (Photo via Konstik / iStock / Getty Images Plus)
David Hartman, luxury travel consultant at Fantastic Endeavors, Inc. believes social media can play an important role in getting people to travel more: The unmet needs and cost savings are causing a stir on social media. People get jealous when their friends post about trips they have booked and soon they will post about their travel experiences. I also want to go will encourage the trend of spending more on travel in the future through social media.
However, Mr Jordan also said that the increase in population will be a temporary trend as more people are able to travel regularly for the first time in a year: Demand for deductions generally encourages travelers to do more. Update. Flying first class. Go ahead and cross something off your list of life paths. As the number of people affected by the pandemic diminishes and things return to normal, I think travelers will calm down and lose the fear that things will clog up. Travel will return to what we know.
Clearly, the demand for travel has never been greater. This can lead travelers to seek out new luxury experiences and end up spending more on their next vacation.
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