What do YOU need to know about traveling in 2023?
As the New Year is right around the corner, some significant trends are approaching for travel in 2023. With millions of travelers already making travel plans and a predicted 20% increase in revenue for the worldwide tourism sector, 2023 looks promising. Today we're covering the TOP 5 travel trends to expect in 2023.
According to RateGain, a leading authority on hospitality analytics and forecasting and a partner of eviivo, over 15 million airline passengers are expected to arrive in London alone in the UK in the next 90 days, with a 36% increase from North America. Moreover, according to RateGain's projection, travelers will increase by 10% over the next 30 days compared to the same time last year.
The top travel trends for 2023 were identified by eviivo using internal data, research, and surveys with international partners and clients, as well as significant data from industry experts.
Check out the top 5 trends that tourists, hospitality workers, property owners, boutique hoteliers, and hosts can anticipate in 2023.
#1 Travellers will continue to prefer short-term rentals over big-chain hotels
American Express Global Business Travel (Amex GBT) predicts a large increase in chain hotel rates in 2023. In fact, CNBC forecasted this price increase as early as June 2022, mainly because the hotel business needs to make up for losses from Covid-19 and maintain its competitiveness with current inflation rates.
Meanwhile, the demand for independent lodging, including Airbnbs, vacation rentals, inns, boutique hotels, B&Bs, and distinctive privately owned properties like castles and yurts, is skyrocketing in the short-term rental market, which offers more affordable properties in the same locations as chain hotels.
Expedia's 2021 Q4 Travel Recovery Trend Report also revealed that vacation rentals were more popular than hotels for upcoming reservations.
This trend impacts both travelers and property owners.
According to The Wall Street Journal, more people are renting out their private rooms and purchasing second houses to use as vacation rentals as a way to augment their income. Additionally, according to data given by Airbnb, the number of new listings increased significantly in 2022, and new hosts in the US made over $1.8 billion, an increase of 34% from the year before.
Through 2023, short-term rental bookings will continue to be profitable for independent lodging owners as well as travelers due to rising travel costs.
However, the rising travel cost in 2023 can be slowed down just a little for travelers in one way. Travel technologies like the Ratepunk browser extension ensure you book your accommodation at the lowest price on the internet.
#2 No, inflation is not forcing travelers to pinch pennies — many are actually splurging
Although travelers may feel as though inflation is a mountain, they are climbing it and won't be put off. In fact, nearly half of travelers admitted in Booking.com's Travel in 2023 survey that they will splurge more on their vacation spending to make up for the lack of travel in the previous two years. The primary cause? Travel will always be worthwhile, according to a staggering 72% of travelers, whose attitudes will evolve to "bold adaptability" in 2023.
As of December 2022, travel spending is 6% higher than 2019 levels, according to the US Travel Association.
It's not to suggest that travelers won't think about their travel budget in 2023, but they will be savvier when making their reservations and will take advantage of never-before-seen travel offers, join loyalty programs, and book directly on an accommodation's website to receive the cheapest price. In fact, over 53% of international travelers prefer to book their stays directly with the lodging, according to an eviivo poll done in August 2022.
#3 The top 5 destinations for 2023 are all about relaxation, exploration, and inspiration
Most significant travel journals have already revealed their favorite vacation spots for 2023.
These five locations are among the top places to visit in 2023, according to American Express 2023 Trending Destinations, Lonely Planet, Travel + Leisure, Fodor's, Conde Nast Traveler, and Forbes since their mentions in the publications most frequently overlapped.
France is the most popular travel destination for 2023, from Paris to Marseille, making practically every top list.
Paris was listed by American Express, Marseille by Lonely Planet, The Jura wine area by T+L, Megeve by Forbes, and the Loire Valley was listed by Conde Nast Traveler, among other towns and locations.
In addition to including the entire United Kingdom (rather than specific cities, towns, or regions) on their list for 2023, Conde Nast Traveler and Fodor's also named Wales, Rye, and National Geographic and Lonely Planet both named Manchester, England, as top destinations for 2023. Time Out also ranked Manchester as the fourth-best UK city to visit in 2023.
The areas with the most demand include, according to RateGain, Kingston upon Thames, Ealing, Kensington and Chelsea, Wandsworth, and Camden.
According to The New York Times, TV-themed itineraries are becoming increasingly popular. We can thank Ted Lasso, The Crown, Enola Holmes, Bridgerton, and many other well-known British television series for inspiring tourists to visit the UK.
In the US traveler poll for Expedia Group's Traveller Value Index 2023, 68% of respondents stated they thought about visiting a destination after seeing it in a show or movie on a streaming platform, and 61% of those respondents booked a trip solely based on this watching.
For 2023, Portugal is in vogue. Melides, Portugal was named by Conde Nast Traveler US, Lisbon and Madeira by CN Traveller UK, Lisbon by American Express, and Alentejo by Forbes.
New Mexico, renowned for its breathtaking desert scenery and national parks, was listed as a top destination for 2023 by Lonely Planet and Travel Lemming, a popular travel website with 6 million unique monthly visitors.
According to Expedia Group's Traveller Value Index 2023, travel to Munich is growing rapidly, while Lonely Planet listed Dresden as one of the top destinations to visit in 2023.
#4 Hospitality technology will be prioritized — and ubiquitous
The rise of virtual reality and the Metaverse as they relate to travel in 2023 and beyond would be negligent if we didn't address them. While most respondents feel that virtual travel alone is lacking, 46% acknowledge that they would be more likely to travel to new locations after experiencing them digitally.
Travelers should be able to plan, preview, and manage their excursions using advanced technology, such as user-friendly apps, and on-premises, such as automatic check-in at a resort, as virtual touch points are now expected throughout vacations.
#5 Wellness and improving quality of life are fueling 2023 travel
The "culture shock" traveler will become more prevalent in 2023 as more people embrace wholly fresh experiences while on vacation. However, they still want wellness to be the primary motivator of their trip, especially after Covid-19. This covers holistic health, spa treatments, leisure activities, and spiritual pursuits.
The number of solo travelers making reservations for vacations in 2023 is up 24% from those in 2019. This is why solo travel has become more popular for isolation and introspection. For the busiest days at London Airports in December 2022, "solo" travelers were just as prevalent as "couples" above "family" traveler profiles, according to RateGain, a leading authority on global hospitality statistics and forecasts and an eviivo partner.
With more than two-fifths of travelers wanting a "health hiatus," silent retreats and experimental wellness experiences are in demand for 2023, so accommodations that provide yoga, meditation, or just the promise of simplicity with a gorgeous view will remain popular.
The biggest difference between the travel industry in 2022 and the industry in 2023
In 2022, spontaneous traveling was at its peak. Less planning - more going “all in” could have been the motto of the travel world in 2022. I would call it the era of “carpe diem” in travel: who knew what could happen tomorrow? You might have planned a trip for next summer, but there was no guarantee that you’d go there, and the doubt was more substantial than ever. This feeling encouraged spontaneous traveling - thinking about a trip to San Francisco quickly became booking the hotel there. However, now, it all gets back to finances. Unplanned trips often require more splashing (no booking in advance, last minute flight rates aren’t the friendliest either), and that’s not something to consider when trying to save up as much as possible. Since people use our product to find the cheapest hotel prices, we did some analysis of the bookings they make. We already notice the tendency to plan way ahead: more travelers are searching for accommodation for months such as November & December of 2023, and the number of bookings for stays in a few weeks, for example, has decreased.
If you already thinking about an upcoming vacation in 2023, make sure to double-check the accommodation prices to get the cheapest one with Ratepunk.
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