5WPR Survey Reveals Consumers Are Splurging on Travel and Experiences Again After Years of Saving
"With travel heavily influenced by external factors, including rising costs for transportation and airfare, consumers' willingness to splurge isn't enough to ensure a booming year of business, however.
- "With travel heavily influenced by external factors, including rising costs for transportation and airfare, consumers' willingness to splurge isn't enough to ensure a booming year of business, however.
- Word-of-mouth is the top channel consumers report relying on to discover travel destinations (46%), as well as the top channel to further research their desired trip (40%).
- "Consumers are tapping into more than one channel to discover their next travel destination and curate one-of-a-kind experiences," shared Busch.
- "Even with reports of consumers prioritizing spending on vacations, there are still challenges faced by destinations and experiences," continued Busch.