2022 Travel Predictions
As we enter into 2022, the state of travel is more fascinating than ever.
On one hand, there are macro-dynamics at play. With new Covid variants, some countries lock borders, while others are adopting practices to let more travelers in safely. Prices of rental cars are spiking due to supply chain issues that make purchasing fleet vehicles expensive. Airlines and hotels are making up for lost 2020-2021 revenue by raising prices. Meanwhile, fears of inflation in the US are causing many to either a) tighten spending or b) re-think investments.
Yet, on the other hand, consumer preferences drive a very interesting tension on the industry. Remote workers have adapted to the Zoom life and now have the flexibility and willingness to work from multiple locations. The “great resignation” is turning yet another set of citizens global as they care more about the freedom to explore and create than a paycheck. Retirees who represent over 34% of the global population, now have the time to travel the world are looking to do so safely.
What does the clashing reality of breaking travel giants and consumers with more desire to travel look like in 2022?
Travel in 2022 will be busier than pre-pandemic times. Travel + Leisure published a report forecasting that travel is anticipated to generate nearly $2 trillion of the U.S. economy alone in 2022.
Domestic trips will outpace global tourism. The U.S. travel sector alone is expected to grow by another 28.4%, according to an Oxford Economics report.
People will travel to form new relationships. In 2022, more people will travel to not reconnect with friends and family, but also to find new connections. According to booking.com, 60% of travelers are wanting to meet new people while away.
Off-the-beaten-path travel will surge. A sense of adventure and discovery will guide many travelers’ decisions. Small towns, unique experiences, exploring in nature, and journey’s of the unknown. According to booking.com, 61% of travelers are now more open to different types of vacations.
“Optimal use” will guide more short term rental hosts to home swapping. Channel management platforms will help bnb hosts make most use of their properties across multiple booking platforms. This will also factor home swapping into the equation for days that aren’t booked. As people leverage their assets for personal and professional use, short term rental hosts will enjoy that they don’t have to pay for accommodations on their trips.