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This past summer it seemed like everyone and their mother was traveling to Europe, Mexico, and elsewhere around the globe. Experts deemed this demand “revenge travel” and justified its existence by saying that travelers were hitting the road after being cooped up during the pandemic. While this was initially thought to be dying down in 2023, it now looks like the trend will carry over into 2024.
The Seattle Times is reporting that a recent Visa Global Travel Intentions study shows that travel costs have increased about 4.4% but only 6% of travelers are letting this impact their plans. In 2023, American travelers took an average of three international trips for around seven days each. Gen Z travelers stayed longer with an average trip length of eight days. Travelers want relaxation (47%), to explore something new (35%) and are seeking adventures (33%). The average spend was $4,204 per trip and more than 60% of that total was spent while at destinations.
Travelers are also looking for more flexibility with 60% of travelers willing to pay more to be able to make last minute changes to a trip. Further, 76% of surveyed travelers will select eco-travel options if they do not cost more than the alternative.
Anthony’s Take: It looks like revenge travel will continue into 2024 with American travelers willing to spend more and travel further than ever before. Plan ahead, arrive early, and get ready for another busy year.
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3 comments
Is the Seattle Times wrong writing that in 2023, American travelers took an average of three international trips for around seven days each. I don’t believe that Americans took 3 international trips. I did but I am not normal. I took 10 trips internationally with an average length of 2.4 days, including travel time.
It says that the survey was that of “American international travelers,” so it is possible that that this survey was obtained from more well-traveled segment of the society?? We did exactly three international trips this year, so we are just “typical” of the surveyed population.
I doubt this. Credit Card debt already hit a trillion dollars this year (a correlation with the increased travel?), and at some point banks are going to stop extending credit. The vast majority of our economy is based on credit cards, and that train may be coming to and end.