Following the release of the 2023 American Express Travel Trends last week, we sat down with President Audrey Hendley to discuss her projections.
Q: Has the travel industry recovered after the pandemic?
A: by 4th 2022 quarter, we had already crossed 2019. Today, the markets have reopened and our customers are thrilled as they look to travel the world. People certainly have time to sit at home and think about what’s important to them, why they travel, and daydream about their next destinations.
Q: So let’s talk about destinations?
A: Even though travelers continue to favor what we call the Big Five, they are seeking out smaller, lesser-known destinations and communities. Once there, they want to experience the local merchants, the markets, the little restaurants, and they love to report back that they’ve discovered a new place. Travelers don’t mind spending more if that money goes to support the local economy. Interestingly enough, on the East Coast, travelers plan to explore the Berkshires and Vermont beyond ski season. This segment of the population can go anywhere and they are choosing to drive in these smaller areas.
Why: What do you call a restorative vacation?
A key word here is that people are now traveling to take care of themselves. Whether we are talking about young people deciding to go on hiking holidays to balance the stress of their studies or older people recuperating from medical procedures, activities, often in nature, are a are the main factors. Mental health is also increasingly seen as a reason to travel, and many destinations are now offering a range of workshops and lectures. Suddenly, hotel executives are wondering what to do with the customers when they get there. Even conferences or business trips now include some form of wellness.
Yoga class in front of the sea.
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Why: You are declaring that people are traveling for food. how is that new?
A: Travelers have been interested in tasting local cuisine for some time, but this trend links to previous ones in the sense that food brings people together. So it’s not just a taste of a local specialty, it’s taking the family for a cooking class. It’s not traveling because you scored a table at a Michelin-starred restaurant, it’s the fact that the regional cooking in that locale has inspired street food or many hole-in-the-wall type eateries. People are more open to eating new dishes, trying new ways of preparing ingredients, as well as taking pleasure in exploring culinary traditions. Food tourism and festivals are new reasons to explore a region.
Why: Is Social Media Still Influencing Travelers?
A: Yes, millennials and Gen-Z travelers are especially sensitive to what we call “set-jetting.” They’re definitely watching White Lotus or Yellowstone or Amelie in Paris, and they plan their trips around these shows. In fact, 70% of people in this segment say shows are influencing their travel decisions. We’re way beyond just seeing an Instagram post and deciding to go there. However, what’s happening with Instagram, the growing popularity of fashion weeks and the fact that even though the shows are not open to the public, fashion lovers will still plan trips around these festivals to attend pre- or post-shows organized by hotels. programs can be taken advantage of. , restaurant or brand.
Q: Lastly, what are the top destinations and for how long are people traveling?
A: Our top domestic destinations are New York, Las Vegas, Los Angeles, Miami and Atlanta. Internationally these include London, Paris, Tokyo, Rome and Cancun. US card members spend an average of four days traveling domestically and nine for international trips. Our trending destinations include Montenegro, Mexico City, the Florida Keys and Woodstock, VT.
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