Amex Trendex, a trend report from American Express, found that even as countries are facing challenges with continued travel restrictions, consumers around the globe still have a strong desire to travel in the future.
Consumers Plan to Spend on Future Travel Next Month
Consumers across five international countries surveyed are beginning to adjust travel spending to new travel norms. While the majority of consumers feel more comfortable traveling domestically over intentionally in the next three months, many plan to make a big purchase on travel in the next month:
- 57% of adults in Japan plan to spend JPY150,000+
- 49% of adults in Canada plan to spend CAD$800+
- 36% of adults in the U.K. plan to spend £800+
- 34% of adults in the U.S. plan to spend US $800+
- 30% of adults in Mexico plan to spend US $800+
Global Comfort Levels in the Next Three Months Vary by Travel Type
What’s driving consumers’ confidence to spend on travel? Amex Trendex found that confidence varies by region in the six countries surveyed and a number of key factors:
- Adults in the U.K. have the most appetite to travel domestically (69%) compared to adults in Mexico (47%), Japan (45%), U.S. (40%) and Canada (40%).
- Road trips still reign. Over half of global adults feel comfortable with taking a road trip in the next three months (63%)
- Hotel stays rank higher than home shares and air travel for global comfort levels. Global adults anticipate feeling more comfortable in the next 3 months staying at a hotel (43%) than staying at a home share (25%), taking a flight (30%) and taking a cruise (10%).
Last-Minute Getaway Travel Bookings At An All Time High
In line with this, American Express Travel has seen similar trends when looking at U.S. Card Member booking data booked through them:
- Four in five travel plans (81%) of U.S. air and hotel bookings in the last week made on Amex Travel are for travel within the next 30 days (week of 7/12), compared to 64% during the same time last year.