Away we go!
Travel predictions for 2023.
Ed Chandler
SVP, New Flows, Europe
Ed Chandler
SVP, New Flows, Europe
Bangkok or Dubai? Singapore or Paris? Whichever of these places people choose to visit in 2023, they’ll likely see a lot of fellow global travelers. Both leisure and business travel have been on the rise according to Visa’s Q3 2022 Global Travel Insight Report. Here are the top five trends I’m expecting to see for the travel industry this year.
TRAVEL TREND 1
Travel is back
These days, the buzzword in most travel conversations is “momentum". The travel industry is almost fully back to pre-pandemic levels, likely due to strong pent-up demand and continued desire to travel. And while the post-pandemic travel resurgence in Asia-Pacific has been slower than elsewhere, the travel industry is expecting to see increased international travel from China and other countries in the region as they continue to re-open.
TRAVEL TREND 2
Sustainability is hot
The travel industry is increasingly seeing that consumers are looking for, and even willing to pay more, for sustainable choices in accommodations and carbon neutral flight options, according to a recent study from Skift and McKinsey. The travel industry expects climate change and sustainability strategies to continue to be a priority for travelers this year.
TRAVEL TREND 3
Personalized trips are here
Thanks to novel uses of AI and machine learning capabilities, Online Travel Agencies (OTAs) will be focusing heavily on their connected trip strategies. These digital transformations would enable travelers to use “all-in-one” travel super apps. These “super apps” could allow people to better personalize their travel journeys, build out curated holidays and experiences, and purchase flights, car rentals, and other relevant activities all within a single ecosystem.
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TRAVEL TREND 4
Shifting from cash to cards
Contactless payments are on the rise and consumers are increasingly using digital payment options when traveling abroad. During the holiday travel season, for example, a recent Visa poll found that 33% of US travelers planned to rely mainly on digital payments when traveling internationally, while 42% intended to use a mix of digital and local payments.1 As cross-border travel continues to climb, digital payment methods will lead the way for travelers who want to avoid currency exchanges or hunting down the nearest ATM to withdraw cash.
TRAVEL TREND 5
Fraud prevention improves
Travelers are seeking out ways to ensure secure and protected transactions, and general fraud avoidance. Reducing fraud and chargebacks will be one of the top priorities for the travel industry.
Read our in-depth travel industry report ➔
This quarterly report contains detailed background information about major industry trends.
- This poll was conducted by Morning Consult between September 21-22, 2022 among a sample of 2,210 Adults.
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