This wide-ranging, international sentiment study examines the purchasing behaviour of travellers and the influence their spending has across industries. It also offers advice for marketers looking to capture the attention of this important group of consumers.
In 2022, Tripadvisor conducted a multi-part analysis, surveying 4,959 consumers across six countries (U.S., U.K., Japan, Singapore, India, and Australia), to understand current travel demand and what it means for your business.
Key findings of “An Economic Portrait of the Traveler” study:
Travel is a non-negotiable expense
- Globally, leisure travel accounts for the largest share of consumers’ annual discretionary budget, with travellers allocating nearly one in five discretionary dollars (19%) to leisure trips, matched only by dining (19%). This is higher than shopping (18%), home improvement (14%) or entertainment (13%).
- In the face of global economic uncertainty, respondents seem prepared to absorb higher costs to keep travelling, with 78% of planning to spend more or at least the same on travel as last year.
- Where travellers are tightening their belts, cost savings look likely to fall across other categories, with three quarters of those planning to reduce discretionary spend avoiding cuts to any travel plans.
- Almost all respondents (95%) said they would rather decrease spending on other categories to save for a future vacation.
Travel influences spend extends across multiple categories
- The vast majority of travellers make purchases from a range of categories when preparing for a trip, from clothes (89%), to luggage (72%), to electronics (62%). Importantly, these are not one-off purchases, with respondents buying these items at least 2-3 times in the past three years before travelling.
- This mindset continues in-destination, with 63% claiming shopping is an important part of their travel budget and 62% agreeing that shopping is an important way to spend time while travelling.
- Only 4% of travelers surveyed don’t usually shop during leisure trips, while 20% ranked shopping as the activity they spend the most on while traveling.
Those who travel more, spend more
- Frequent travelers (defined as those who are planning 3 or more trips over the next 12 months) are especially enthusiastic consumers. Not only does this group plan more trips, but they typically spend more on accommodations per night than occasional travelers – 41% will book accommodations priced at over $200/night, 71% higher than occasional travelers.
- Over half (53%) of frequent travelers will spend more on travel in the next 12 months than they did in the past year, compared to 38% of occasional travelers.
- When compared to the average respondent, frequent travelers made purchases more consistently across every spend category, even accounting for income levels and budget.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.