American Express has released 'Global Travel Trends Report'

Mar 26, 2021 11:31 1861 0

American Express has released 'Global Travel Trends Report'

American Express has released the American Express Travel: Global Travel Trends Report1, providing unique insight into consumer sentiment towards travel nearly a year after the COVID-19 pandemic began. Indians rank “most interested” in future travel with 84% respondents daydreaming about travel at least once a week. The report was compiled following a survey in seven countries across the globe (United States, Australia, India, Canada, Mexico, Japan and the United Kingdom).

 

Manoj Adlakha, CEO & SVP, American Express Banking Corp. India said, “Amex Trendex highlights pent up travel demand and some behaviours unique to our market. 91% respondents in India are interested in choosing a trip or experience that supports the local community, showing an understanding of the pandemic’s impact on the travel industry and their intention to support recovery. According to the survey, Indians are most keen to plan future travel and we have been seeing similar trends in Cardmember enquiries to our concierge desks. We continue to invest in capabilities and partnerships to deliver best-in-class access and experience to our Cardmembers. We have just revamped our airport lounge in Delhi and made significant value enhancements on our Platinum Card product to meet the lifestyle and travel expectations of our customers. The survey also throws light on the changing paradigm of luxury, especially in the travel and hospitality space. We continue to explore avenues to associate with like-minded partners to fulfill the needs of our Cardmembers.”

 

Top insights from the report include:

  • Indian consumers are most interested in future travel, with 84% of them daydreaming about travel at least once a week o 84% India, 79% UK, 74% U.S., 70% Mexico, Canada 67%, Australia 45%, Japan 45%,
    • The top motivation for Indians for traveling this year is to go somewhere new: (38% respondents)
    • Indians also rank highest (87%), in wanting to be digital nomads - meaning someone who lives and works while traveling the globe
    • Majority of respondents in India are planning for one big international trip (69%) while Japan (71%) UK (70%) and Australia (66%) are planning for multiple, smaller domestic trips
    • 91% respondents in India are interested in choosing a trip or experience that supports the local community, ranking higher than their global counterparts
  • 36% respondents across the seven countries surveyed, 63% in India will more frequently use travel credits or points to pay for all or part of a trip in 2021 than they did prior to the COVID-19 pandemic
  • Preferences for luxury travel entails high cleanliness standards (81%), Privacy (79%), Unique culinary and gastronomy options (80%), Personalized experience (82%), Spa and wellness amenities (77%)
  • Millennials are the most interested in theme-based travel (75% agree they want to take a nature-based vacation, 71% adventure, 66% foodie, 68% wellness/spa)
  • 80% of consumers indicate they are willing to travel to destinations during the offseason so that it's less crowded

 

“Our latest global trends report shows that there is a pent-up demand for travel among consumers, with many people longing for and beginning to plan future trips,” said Audrey Hendley, President of American Express Travel. “In addition, the pandemic environment is giving rise to emerging trends, such as the increasing appeal of working from anywhere while traveling globally, luxury being defined as more personalized experiences, cleanliness and privacy as the ultimate luxury amenities, as well as a growing interest in the environmental and social purpose of their trips and travel companies.”

 

Key global themes:

  • Strong Pent-Up Demand for Travel: 87% of people surveyed said that having a trip planned in the future gives them something to look forward to, 76% of respondents are creating their destination wish list for future travel even though they might not be able to travel yet and 63% of respondents said that they are saving their credit card points so they can go on a vacation once they feel comfortable traveling.
  • Privacy is the New Ultimate Luxury: 75% of respondents agree that the experiences that offer ultimate privacy is becoming a key sought-after feature of luxury travel.
  • Increase in Sustainable Travel: 68% of respondents agree they are trying to be more aware of sustainability-friendly travel brands to support.
  • Travel to Uplift Health & Wellness: 78% of respondents indicate wanting to travel in 2021 to relieve the stresses from 2020.
  • Making Up for Missed Travel: 61% of survey respondents plan to spend more than they normally would on a trip in 2021 since they could not travel in 2020.
  • GenXers (66%), Millennials (65%) and Boomers (64%) would give up social media for a month while GenZers (62%) would stop watching TV for a month to be able to go on a vacation safely

 

To download American Express Travel: Global Travel Trends Report, visit here.