New study reveals customers are rapidly changing their travel habits
According to a TravelBoom report, travel planning and booking behavior are affected by rising costs, the broader economy, ongoing risks from COVID-19 and technology
TravelBoom, a data-driven digital marketing agency for hotels, resorts, and vacation rental companies, released its annual study of leisure travel trends after recently surveying more than 2,000 travelers in 2022.
The results reveal surprising changes in travel planning and booking behavior that are affected by rising costs, the broader economy, ongoing risks from COVID-19, and technology.
The study examines the mindset and behavior of travelers from the inception of the idea of traveling to how they interact with their chosen destinations before, during and after their stay. It also displays vital metrics and pinpoints guest booking preferences and behavior changes from year to year. TravelBoom's 2022 Leisure Travel Trends Study provides key insights such as:
- Rising costs are affecting travel plans. 36% of travelers say they may cancel planned vacations due to budget issues.
- Travelers are doing more research online than ever. The average traveler visits 5.5 websites during their booking process and does more research than ever before.
- The factors that affect travel plans are changing. Transportation costs, amenities, and loyalty programs are just a few of the factors that can affect a traveler's decision.
- COVID-19 continues to influence travel. 55% of the population still consider the pandemic before booking a trip. Only 13.5% of US leisure travelers say COVID-19 is a major influence on travel, compared to 45% of Canadian travelers. Showing that COVID-19 continues to have a significant impact on international travel.
- Reviews have never been more important to travelers choosing where to stay. 82% of travelers will not book a property without reading reviews first.
- Vacation rental sites are taking a bite out of online travel agencies (OTAs). VRBO and Airbnb are growing significantly in usage, at the expense of OTAs like Expedia.
"Leisure travel continues to be one of the hardest hit industries in the post-pandemic period and consumers are acutely aware of inflation, lingering COVID-19 concerns, coupled with high expectations for destinations and accommodations," he said. Pete DiMaio, TravelBoom's chief operating officer. "Our annual Leisure Travel Trends study allows us to better understand the consumer mindset and shopping journey so we can tailor our marketing strategies for greater impact."