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Consumers to spend 28% more on travel over the next 12 months: Outpayce

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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Consumers to spend 28% more on travel over the next 12 months: Outpayce

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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