In Q2 2023, there was a slight dip in travel in the U.S., with 55% of Americans reporting that they traveled, down 4 percentage points compared to Q1 2023. The decline in Q2 2023 travel was driven by a 2-percentage point decrease in international travel, while domestic travel increased by 2 percentage points.
The survey findings suggest a reversal of Covid-related changes in the travel landscape. Solo trips have decreased, and travel to urban centers has rebounded. There has been a shift towards hybrid work models, indicating a partial return to office-based arrangements. The preference for blended business trips has declined, aligning with the intention to reduce personal travel expenditures. These insights reflect a changing travel environment as individuals adapt to evolving work scenarios and adjust their travel preferences.
In Q2 2023, direct bookings showed a slight decline, following a similar pattern observed in Q1 2022 and Q2 2022, suggesting a potential seasonal trend in the travel market. Among third-party websites for hotels, Booking.com and Expedia are the top contenders. Booking.com surpassed Airbnb in rental bookings for Q2 2023. Our survey reveals a substantial increase in the usage of Booking.com in Q2 2023 compared to the same period in 2020-2022, however, caution is warranted in proclaiming it as the top choice solely based on this data.
Amidst a growing belief among Americans that the country’s economic situation will deteriorate in the coming year, survey data indicates a cautious sentiment regarding personal financial stability. Inflationary pressures persist, reflected in higher day-to-day purchase and travel prices reported by respondents. Despite these challenges, the travel sector is projected to showcase resilience, with a minimal proportion of respondents reducing their travel spending.
What You'll Learn From This Report
- U.S. Travel Highlights
- Booking Trends
- Customer Experience
- In-Destination Trends
- Consumer attitudes to prices, and the impact on travel plans
- Use of sustainable options provided by travel suppliers
- Consumer Sentiment and economic outlook