Safety and financial security emerge as top considerations in pandemic-focused study from Expedia Group
New research from Expedia Group reveals shifting views on travel, including positive sentiment on vaccine passports, increased budgets, and an enduring demand for safety and financial security. The Traveler Value Index examines the views of 8,000 people in eight countries to understand their values and expectations as the pandemic becomes more controlled in many parts of the world.
“As vaccination rates rise and borders open across the globe, people are ready and eager to travel. However, the months of uncertainty are weighing on their travel decisions and shifting the conventional belief that price is the top driver of bookings,” said Ariane Gorin, president, Expedia for Business, Expedia Group. “These insights show people want to book with trusted travel providers that will deliver on their experiences, keep them safe, and protect their financial investments.”
Improved outlook for 2021 and beyond
Despite a period of uncertainty, the Traveler Value Index shows that people are making travel a financial priority. More than a third (34%) of travelers have larger travel budgets now compared to 2020. In fact, nearly one in five respondents globally (18%) expect travel to be the activity they spend most on in 2021, on par with major spending items such as home renovation (18%) and ahead of entertainment (12%), buying or taking care of a car (11%), or healthcare (11%). Additionally, more than third (36%) say they would trade a pay raise for more vacation days
Travelers are thinking differently about the frequency and length of travel. Many (60%) are opting for domestic travel in the short-term, however they are planning to get away more often, nearly half (41%) wanting more frequent, shorter, trips. The outlook for international travel is also improving, with more than a quarter (27%) of travelers considering a trip to another country in the next year. In fact, nearly three-quarters (71%) of travelers are comfortable showing a vaccine passport to travel internationally.
The research also shows an increased desire for new and different experiences over nostalgic destinations, with three-quarters (75%) of travelers likely to select a travel destination they’ve never been to before. Additionally, more than half (52%) are likely to use a new mode of transportation, and nearly a quarter (22%) are looking for a once-in-a-lifetime experience on their next trip.
Decisions reflect personal values
The Traveler Value Index reveals that travelers continue to make value-based decisions that reflect their own personal views when booking travel. Travelers want to support sustainable practices, with nearly three in five (59%) willing to pay higher fees to make their trip more sustainable.
Additionally, a majority (65%) are more likely to book with travel providers that have inclusive policies. This includes properties that are owned by women and/or people of color, are welcoming to the LGBTQIA+ community, and those that are supportive of people with disabilities.
Financial security and safety are top priorities
The Traveler Value Index ranks the factors shaping booking decisions across multiple travel experiences, including:
The Traveler Value Index also shows differences in values by age group, indicating that younger groups are less focused on price and refunds. These include:
Expedia Group’s Traveler Value Index research was conducted by Wakefield Research between April 16 and May 7, 2021. Respondents included 8,000 nationally representative adults ages 18+ from eight countries: Australia, Canada, France, Germany, Japan, Mexico, the United Kingdom, and the United States.
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Jim Hepple is an Assistant Professor at the University of Aruba and is Managing Director of Tourism Analytics.