Money, it has been said, cannot buy happiness. But it might help pay for the search. Yet when prices are high, even the search becomes a challenge. It might be tough for a person to think about taking a trip, for instance, when even buying groceries at the supermarket is felt more deeply in one’s pocketbook.
Today’s travel scene might be viewed as a sort of catch-22. It might be tougher for people to travel these days due to higher costs, but people nonetheless want to get away from their daily routines, to perhaps even forget about the inflated market, and experience something new.
According to a report by Deloitte, this seems to be the case. “Over the past two years, as inflation has challenged Americans’ sense of financial well-being, travel has proven to be largely impervious.” But, the report continues, “Intent to spend on flights and lodging has remained high.” In other words, people intend to still travel despite their paying more to do so, but price deals might turn their intentions into reality. The bottom line is that higher prices haven’t shirked people’s desire to get out of their daily routines, take needed vacations, and have experiences that help refresh and rejuvenate them—all good things for individuals and the companies that employ them. When employers have a well-rested and energized staff, the 9-to-5 grind is not such a drain and work is noticeably more productive.
Comfortable lodgings go a long way in helping vacationers relax. An earlier survey, this one by Hilton, found that people’s intent to travel this year was largely to rest and recharge. (Look back to “Meaningful Trips” on page 12 of the May issue of Group Tour.)
Of its representative sampling of 4,022 Americans who took its survey this spring, Deloitte found that nearly half of respondents said they plan to take vacations involving paid lodging. “But they are also watching the price tag,” reads the report, noting that “the perception of inflated fares and fees is affecting every aspect of travel this season.” The report also noted that hospitality groups, including hotels and airlines, must improve the experiences they offer, otherwise they risk losing travelers.
“While hotel prices will moderate compared to the last two years, they’re still forecast to increase around the world as air fares continue to stabilize,” reads a report from American Express Global Business Travel. “Expect prices to be impacted by demand, staffing, and economic conditions over the next year.”
With just a few months left in the year, the perceptions seem not to have changed all that much. While some travelers say they prefer to have memorable experiences over saving a few bucks, for many others the wallet continues to play a factor in people’s travel decisions, perhaps in some ways even more so as the months pass. Before long, the holidays will be encroaching on people’s schedules—and causing another dent in their bank accounts—and travel plans will be shifted as the seasons change.
The seasons, however, don’t have much impact on at least one demographic. Ever since the pandemic, a segment of the workforce has been working in remote or hybrid work environments. For many companies and their employees, going to the office every day to sit at a desk seems outdated. This trend also has impacted the way people travel, according to the Deloitte report, with there being a surge in longer leisure trips because many in the white-collar workforce don’t have to return to desk jobs. They can bring their laptops with them and stay longer, a behavior that also has impacted travelers’ destination “needs and preferences.”
By Andrew Weeks
Main Image Credit: Adobe/Kittiphan
