Today, new data from GWI's new travel data set - GWI Travel - shows the travel sector continues its post-pandemic rebound, with 57% of people planning an overseas vacation in the next 12 months and 86% saying a domestic trip is on the cards. However, consumers are airing on the side of caution post-pandemic, as 38% report that being able to cancel or rebook for free is the most important factor when choosing their next trip, followed by 36% paying closer attention to hygiene standards.
At the same time, the cost of living crisis and worries about an incoming recession are also impacting attitudes to travel, with July 2022 GWI Zeitgeist data showing that 36% of consumers are being price-conscious when it comes to travel spend.
CEO and Founder of GWI, Tom Smith, said “While many people have jumped back into traveling after the disruption of the past couple of years, the ways in which we now live and work post-pandemic are heavily impacting travelers’ expectations. That’s exactly why we have created a travel specific data set - to help our customers stay on top of these ongoing changes and really understand what people want and need.”
The data from GWI Travel also shows consumers want the best bang for their buck when booking their trip, with social media and review sites playing an integral part of their planning process. Travelers are looking to their peers to get vacation inspiration, with over a quarter saying this is more important to them than travel blogs, price comparison websites and travel agents. This is of particular importance to Gen Z, who are 44% more likely than other generations to say social media influences their decision about where to travel.
Chief Research Officer at GWI, Jason Mander added, “The data really demonstrates that while we’re keen to get back to regular travel, consumers are still tentative. Brands should take note, offer flexibility, and above all, demonstrate the overall value and experience they’re offering.”
Overall, travellers reported visiting family, relatives or friends (53%) and a beach/Coast (51%) among their top preferred vacation types. Yet, there’s also some surprising generational breakdowns. All generations are keen to travel again but have different views on how they want to do it. Price and value-for-money are more important to baby boomers, with 57% highlighting this as a key factor for them, whereas millennials are more willing to pay a premium price for flights or accommodations that improve their experience. Millennials are also far more likely to travel internationally, with 64% determined to travel outside the U.S. This is no surprise considering millennials also say that vacations are very or extremely important to them (42%).
GWI Travel is a new data product from GWI, focused on the travel industry as a one-stop-shop for all travel consumer data, helping brands and agencies to better understand their audience, elevate their marketing, and drive sales. Research is compiled from online respondents aged 16-64 across 10 key travel markets, including the US, UK, Singapore and China. Included July 2022 GWI Zeitgeist research was compiled via online survey of 4,034 US and UK respondents aged 16-64. The new GWI Travel platform can now be accessed here.
GWI is an audience insights technology company. Its SaaS platform and custom data products are trusted by the world’s biggest brands, media organizations, and agencies on a daily basis to gain a deep understanding of their audiences at speed.
The company’s flagship survey represents 2.7 billion people globally. Through a combination of survey data and analytics, clients can gather in-depth insights into behaviors, attitudes, and interests from rich data sets including GWI Kids, GWI Sports, GWI USA, GWI Gaming, GWI Travel and GWI Work.