Revenge Travel Rages On Despite Inflation
Last week over the 4th of July weekend, the TSA reported the highest volume of U.S. travelers since the pandemic began in 2020. Americans are showing no signs that rising prices will stop their vacation plans. According to Allianz Partners USA’s 14th Annual Vacation Confidence Index, about one in three Americans (32%) admit they are ‘revenge traveling’ in 2022, unapologetically making up for lost vacation time that was postponed due to the pandemic.
The findings also show that seven in 10 Americans (71%) say they desperately need a vacation this year, even though 43% say they can’t really afford one. Among those who say they can’t afford a vacation this year, 31% admit they are revenge traveling anyway – likely stemming from both the desire to catch up on missed vacation time or unused vacation days and Americans equating vacation with self-care and boosting mental health.
71% of Americans say they desperately need a vacation this year, even though 43% say they can’t really afford one
While inflation has caused more than half (55%) of respondents’ vacation plans to be scaled back, a significant number of Americans were able to save money since the beginning of the pandemic to put toward their next dream vacation. Allianz Partners found that 49% of Americans say they’ve saved more over the pandemic and are able to spend more on travel as a result.
In the luxury sector, Europe is the destination of choice with the hot spots Italy, France, the UK, and Greece. Indagare CEO Melissa Biggs Bradley reports that they have booked twice as many trips to Italy as in 2021—and a whopping 14 times as many trips as in 2020! "With Indagare members spending over 50 percent more per night on hotels this year (so far), as compared to this time in 2019, there’s no question that pent-up demand for exceptional hotel and travel experiences are driving a resurgence in luxury travel," Melissa notes.
"With Indagare members spending over 50 percent more per night on hotels this year (so far), as compared to this time in 2019, there’s no question that pent-up demand for exceptional hotel and travel experiences are driving a resurgence in luxury travel," Melissa Biggs Bradley, CEO, Indagare
However, chaos at European airports may make carefree holidays a challenge as queues and cancellations are quickly becoming air travel norms, according to a new study from GlobalData. Airlines failing to adequately prepare for travel’s great comeback has resulted in staff shortages, Hannah Free, Travel and Tourism Analyst at GlobalData, notes: “International departures from European countries are expected to reach 69% of 2019 figures in 2022, according to GlobalData. While destinations are eager to welcome visitors, supply simply cannot meet demand following extreme staffing deficits and industrial disputes, which has coincided with a rebound in international travel.”