November 2, 2023
This second wave study explores the changing landscape of the travel industry as it relates to consumer preferences, sustainability initiatives, and digital transformation.
November 2, 2023 – The latest research coming from Bloomberg Industry Accelerator, Bloomberg Media’s leading source of proprietary sector and audience related analyses and thought leadership, uncovers the dynamics driving the global travel and tourism business in 2023. The Global Traveler Outlook surveyed travelers across eight countries in APAC as well as Saudi Arabia, the United Kingdom, and the United States to surface insights on today’s premium traveler mindset. This research features findings on travelers’ evolving preferences, behaviors, and patterns amidst the rapidly changing tourism landscape.
“While last year’s study focused on the post-pandemic travel landscape, this wave reveals further nuances to travelers’ shifting perspectives on tourism. From understanding how travelers’ viewpoints on sustainability influence travel behavior to seeing how the rise of bleisure is shaping the way professionals approach work-life balance, we’re able to track incremental changes in how the travel landscape is evolving,” said Bloomberg Media Chief Client Officer Anne Kawalerski. “As we see consumers expressing greater interest in traveling for new experiences, ‘The Global Traveler Outlook’ provides invaluable insights to enhance the ways we tailor marketing strategies for our clients and audiences.”
Highlights of the study’s global findings include:
- In 2023, “Immersing in different cultures, foods, and lifestyles” became the second most popular reason for leisure travel while “luxurious stays and private excursions” fell to #8.
- Globally, travelers spend approximately 16% more now than they did pre-COVID.
- Environmental impact is a growing consideration for travelers as 77% of this audience places importance on sustainability when making travel decisions.
- 85% of travelers agree that digital technology is vital in facilitating travel planning.
- Bleisure (integrating leisure activities into business trips) is gaining popularity as travelers recognize its range of benefits. For example, 37% of the premium traveler audience views bleisure as an opportunity to travel to places one wouldn’t go otherwise.
Access key insights from The Global Traveler Outlook: Navigating 2023 Tourism and Travel Trends here.
For more information on Bloomberg Industry Accelerator research, such as our Global Wealth Blueprint and Foreign Direct Investor Outlook, please contact us here.
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Methodology
As the second wave of a multi-country study that includes the US, UK, Saudi Arabia and APAC, this research provides a comprehensive overview of the 2023 premium traveler’s mindset and implications for the travel and tourism industry stakeholders in the context of traveler expectations with regards to sustainability, technology and the overall travel experience. The sample for this survey adhered to the following criteria: sample size of n=1,100, 11 markets. ages 23-70, income in the top 20% of their region, and consumes business/lifestyle content.
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