Report Overview
Travel is picking up in the U.S. In December, 55% of Americans traveled, 10 percentage points higher than the same time last year. However, the number of respondents who travelled decreased by 2 percentage points in December compared to September indicative of typical seasonality in travel with the winter season commencing.
Nevertheless, the future of travel industry’s recovery remains precarious as a majority of Americans believe that the economic situation of the country and their personal financial situation will worsen in the next 12 months and that they plan to cut down on their travel spend because of high prices of travel products.
Direct channels were found to be the major source of bookings for hotels and airlines. Third-party websites witness high market concentration with only a few players holding majority market share.
Remote work remained popular, with the share of respondents working fully remotely/from home increasing 4 percentage points between October 2022 and January 2023. The share of remote workers taking extended trips also increased, leveraging the flexibility that remote working offers.
The gap between sustainable intent and action seems to be bridged more often, with a quarter of respondents saying they paid extra for a more sustainable travel option in the last 12 months. The spend varied across travel suppliers.
What You'll Learn From This Report
- Travel incidences, January 2020 - December 2022
- December 2022 travel highlights
- Booking trends
- Consumer sentiment and economic outlook
- Consumer attitudes to prices, and the impact on travel plans
- Remote work trend and its impact on travel and mobility
- Use of sustainable options provided by travel suppliers