According to the report, demand for travel in 2023 will be higher than ever, while tourists seem to have their hands in their pockets as 1/3 said they plan to spend more this year than in 2022. From respondents 69% said they were looking for "sustainable" travel options for 2023.
The "A World on the Move: Shifting Consumer Travel Trends 2022 and Beyond" report unveils that sustainability is high on the travel agenda, with tourists eager to reduce their carbon footprint and support sustainable tourism. According to research included in the report, three-quarters of travelers are considering traveling more to environmentally sensitive destinations in the future, and nearly 60% have made similar travel choices in the past two years.
Travel budget increases
According to the report, consumers were willing to stretch their budget for their vacation plans, with 86% of travelers planning to spend the same amount or more on international travel than in 2019, and Americans tourists to lead the list as the most "gallant". 2023 looks even better in terms of traveler spending. Despite concerns about inflation and the rising cost of living worldwide, nearly 1/3 (31%) of travelers said they plan to spend more on international travel this year than in 2022. Additionally, according to Global State of Deloitte's Consumer Tracker, more than half (53%) of global consumers surveyed last summer said they plan to stay in a hotel within the next three months.
Luxury holidays
In 2022, discounts on sun and sea vacation packages are estimated to increase by 75% compared to the previous year. Last year, during the summer, international arrivals to European sun and sea destinations were just 15% below 2019 levels. However, the figures suggest luxury holidays will prove particularly popular, with luxury hotel sales expected to reach $92 billion by 2025 (versus $76 billion in 2019).
At the same time, big cities like London, Paris and New York will remain world powers in tourism. According to a forecast, in the next ten years, Beijing, Shanghai and Macau rise in the list of top city destinations. The prediction comes in new WTTC research, which shows city breaks are making a comeback and growing in popularity after the pandemic.
The study, which analyzed key indicators such as travel and tourism's contribution to GDP, employment and travel spending, shows a recovery. Paris was ranked as the most powerful destination in the world with a travel and tourism sector worth almost $36 billion in 2022 in terms of direct GDP contribution. But WTTC now predicts the French capital will drop to third place, although its value will rise to more than $49 billion.
Beijing is currently the world's second largest destination with a tourism sector worth nearly $33 billion. while it is projected to surpass Paris within the next 10 years, reaching $77 billion. Orlando's travel industry was valued at $31 billion in 2022. However, despite forecasts suggesting it will grow by nearly 50% to $45 billion by 2032 , the US theme park hub will drop down the rankings to become the fourth largest destination.
