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The second edition of the ‘Consumer travel spend priorities’ research, by Outpayce, a wholly owned Amadeus company, reveals that consumer demand for travel is expected to remain robust over the coming twelve months, despite continuing economic uncertainty.
‘International travel’ was once again ranked by consumers as the highest discretionary spend priority from a basket of six categories.
Discretionary spend area
‘High priority’ 2022-2023
‘High priority’ 2023-2024
Difference vs. previous year
International travel e.g. holidays
42%
47%
12%
Domestic travel
32%
36%
13%
Online subscriptions e.g. Netflix or Amazon Prime
28%
30%
7%
Eating out e.g. restaurants
27%
30%
11%
Fashion e.g. new clothes
25%
28%
12%
Big ticket items (new car or home furnishings)
20%
23%
15%
All spend categories edged up compared to last year’s study pointing to a tentative jump in overall consumer confidence. However, the number of people ranking travel as a ‘high priority’ for the coming twelve months increased by the largest margin, rising to 47%, up 12% year-over-year.
Travelers expect to spend significantly more on international travel during the coming year with average expected spend of $3,422, an increase of $753 per consumer, or 28%, compared to last year.
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