Complete Story
12/02/2022
Updates 12/01/2022: Ohio's Travel Industry and Current Travel Research
PERSONAL TRAVEL BUDGETS MAY INCREASE, “FLEXCATION” BECOMING MORE POPULAR AMONG TRAVELERS, SUSTAINABILITY IS IMPORTANT
Key findings from Expedia Media Solutions, published Nov. 10:
- Not being able to travel reminded people of its importance in their lives. Nearly 46% say travel is more important now that it was pre-pandemic.
- While 31% of people say their travel budget will remain the same as last year, 43% are upping their budget for the coming year.
- When asked what makes travel more important since the beginning of the pandemic:
- 49% said a change of scenery
- 49% said the physical and/or mental health benefits
- 46% said making up for lost time with friends and family
- 43% said having new experiences
- According to this research, 90% of people said they are looking for sustainable options when traveling.
- When asked about business travel, 76% of business travelers said they plan to extend their work trip for leisure purposes in the next 12 months. While 28% said they plan to take a “flexcation”, combing a leisure travel and remote work, in the next 12 months.
- There are still factors impacting consumers’ travel plans in the next 12 months.
- Consumers said their number one factor impacting travel for them is inflation
- Industry professionals said their number one factor impacting travel for them is ongoing health and safety concerns due to the pandemic.
BUSINESS TRAVEL REACHING HIGH EXPECTATIONS FOR 2023; REMOTE WORK LIKELY TO RESULT IN SAME NUMBER OR INCREASE IN BUSINESS TRIPS
Key findings from Smart Brief, fielded Oct. 2022:
- Though business travel has not reached pre-pandemic levels, this study shows an expectation of rebound in 2023, with 78% of travel managers anticipating their companies will take more business trips.
- COVID-19 is becoming less of a factor preventing business travel, while economic conditions are the new set back. However, 75% of travel buyers say there are no plans to limit travel due to the economy.
- With most respondents in this survey being fully remote or hybrid:
- 72% said remote work would not change the number of business trips taken by employees
- 14% believe that remote work arrangements would increase the number of business trips taken
