Booking platform WeTravel, an integrated, end-to-end platform built to optimize operational needs of multiday tour operators, released its first annual travel trends report on purchasing habits for 2023 travel. The report, Purchasing Habits: The Future of Travel Bookings and Payments, analyzed data from thousands of tour operators and group travel businesses to see how travel spending shifted following the pandemic.
The report not only discovered women account for nearly 70 percent of all tour and multiday travel bookings, but also found the average age of travelers increased from 30 in 2019 to nearly 40 in 2023. Additionally, 56 percent of survey respondents stated an increased traveler demand for tours instead of all-inclusive packages.
WeTravel uncovered travelers booking closer to departure in fear of cancellation, with 60 percent booking less than three months prior to departure. This marks a 20 percent decrease in booking lead time compared to 2019, leading to reduced refund processing for travel businesses.
More than 86 percent of survey respondents noted they increased their trip pricing by 10 percent or more in 2023 compared to 2022, while nearly 25 percent increased their trip pricing by more than 25 percent in 2023 compared to 2022. In terms of paying for tours and package, in 2023, the most common payment option found is deposit and four installment payments prior to departure. Nearly 60 percent of all travel payments for 2023 tours is by credit card accounts, more than a 20 percent increase from 2019.
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