Spring break is fast approaching at Kent State and many students will be traveling around the country and the world to escape from school and have some fun. As Covid strains are relieved and travel restrictions are lifted, more people are starting to travel again. How is this sudden push to travel affecting travelers and travel providers? According to a report in the Mintel Market Research database:
"Two thirds of vacation planners feel the need to choose the “best” vacation destination, and 47% need the help of travel brands to do so. This is a chance for providers to reinforce their expertise in an environment where travelers don’t always trust brands’ abilities."
When discussing travel, it is also important to look at the financial impact. With inflation at a noticeably high rate that's affecting consumers purchasing decisions, travel budgets could also be impacted. Some consumers may be reluctant to splurge on travel while simple necessities such as groceries and gas are uncharacteristically expensive. Others may feel that after the last couple of years dealing with Covid, the extra money spent on vacation is absolutely worth it. According to the same report in the Mintel Market Research database:
"Travelers plan on increasing this year’s vacation spending over last year’s, in part recognizing that prices have increased. Nonetheless, travel is so popular that consumers are willing to weather higher prices to do it, leading to an increase in leisure travel in the coming year."
To read the full report, go to the Mintel Market Research database and search for Vacation Plans and Priorities: 2023
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