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Monday, July 22, 2024

A drastic increase in consumer intention to travel

Europ Assistance EA today announced the international findings of their 21st edition of the Holiday Barometer. Travel expectations are increasing significantly compared to last year, with levels higher than in 2019.

Overall, 69 Thais intend to travel from June to September, which represents a 25pts increase compared to 2021. Julia Ricks, Head of International Travel at Europ Assistance Group says this year’s travel intentions reflect a real excitement for travel, overpassing pre-pandemics levels. Compared to 2021, we observe a significant return to international travel and higher average holiday budgets, supported by a significant decrease in covid-19 related issues that favours aeroplane trips and destinations like cities.

Ongoing inflation hasn’t stopped but contained this travel enthusiasm after two years of restrictions, but inflation is the most significant travel concern this year. Booking anticipations and the importance of being more covered with trip insurance appear as new habits of holidaymakers that could become durable, Julia added. The average holiday budget should be higher than in 2021, but this increase is limited by the inflation context.

Holidaymakers report a higher travel budget this year than they did in 2021 Americans intend to spend an additional 440, for a global budget of around 2,760 19 vs 2021. In Europe, the expected holiday budget is around 1,800 220, 14 vs 2021. And the holiday budget Thais intend to spend strongly increased vs 2021 by 18 62,800 THB.Thailand-Holiday-Barometer

Concerns about inflation and price increases are much present in people’s minds in 2022 and impact their desire to travel this year it is the case for 69 Europeans, 62 Americans, 70 Canadians, 63 Australians and 77 Thais, who says being impacted by this issue.

Moreover, financial considerations are mentioned as one of the main reasons not to travel by 41 Europeans who won’t be going on a trip from June to September 14pts vs 2021, 45 of Americans 9pts and 34 of Thais 10pts. While Covid-19 is still a consideration for travellers, it has receded as a concern.

Overall, the global level of concerns regarding all covid-19 related topics is decreasing compared to last year, especially on travel and leisure plans. For 53 Europeans and 46 Americans, COVID-19 has an impact on their enthusiasm regarding travel. It is still particularly high among the Canadians or the Aussies 60 and even more among the Thai population 81.

When they think about their next trip, health issues have still the greatest impact on the Thai respondent’s enthusiasm, followed closely by inflation, even thou the level of concern regarding covid-19 related topics is decreasing. When travelling, Thais are still willing to carefully pick their destination by avoiding certain countries and favouring close destinations. However, the level of caution decreased strongly vs 2021 When thinking about their next trip, Thai respondents still feel concerned about issues related to the sanitary crisis, but to a lesser extent than last year.

The desire to travel internationally drove the will to get vaccinated. This decrease in covid-19-related concerns leads to a significantly higher attractivity of cities even if in Thailand, cities still remain far behind seaside 58 vs 37, countryside and mountain as a travel destination.

Written by: Supaporn  Pholrach (Joom)

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