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NEEDHAM, Mass., May 10, 2021 /PRNewswire/ -- Millennials in search of luxury are at the forefront of rebounding U.S. traveler confidence, a joint study by Tripadvisor®, the world's largest travel guidance platform, and Accenture, the global professional services company, has found. While beach vacations remain highly popular among U.S. travelers planning to travel domestically in 2021, the U.S. city break is also returning as a trip of choice.
The findings were revealed today in a new research report that shares insights into U.S. travelers' plans for the year ahead. The research analyzes the latest consumer sentiment in the U.S. across a comprehensive range of demographic groups and income levels, to gain a deeper understanding into how different groups of U.S. travelers are feeling, where they are planning on going next and how much they're going to spend.
The report, entitled The Future of Travel, found that while confidence to travel appears to be returning among all age groups, it is the high income Millennial demographic that are most likely to spend big on travel this year, with a majority already booking luxury trips - thanks to a strong desire for self-care and relaxation.
Key findings from the report include:
"Throughout this pandemic our research and insights have always shown us consumers' resilience and wanderlust to travel. In this latest joint report, it's fantastic to see U.S. traveler confidence returning, especially to destinations further afield," said Christine Maguire, general manager, global media business, Tripadvisor. "What is also encouraging for brands and destinations is that, among those planning to spend more than $5,000 on their next trip, as many as 62% have not yet made a booking -- and they are eager to spend more on travel than ever before. For brands, the opportunity is there to attract the purchasing power of this audience now."
"The research highlights a positive outlook and several trends that look set to shape the U.S. travel market recovery. Cities are making a comeback as a top destination, and there is a clear desire among more affluent travelers for luxury experiences," said Liselotte de Maar, managing director, travel industry at Accenture. "The focus needs to be on targeting the early "inspiration" of the customer journey with new travel offerings that establish a personalized connection. Travelers choose the brands they trust, so it has never been more important to live up to the brand promise, while having the flexibility and responsiveness to developments in order to meet travelers' evolving needs."
For additional information on the impact COVID-19 has had on the tourism industry, visit Tripadvisor's webinar series found at: https://www.tripadvisor.com/TripAdvisorInsights/w5933.
About the research
This online survey was sponsored by Accenture and Tripadvisor; it was executed by Qualtrics. The survey was conducted on March 3, 2021 and interviewed 1,000 respondents from 49 states, evenly distributed across Gen Z, Gen X, Millennial, and Boomer generations.
About Tripadvisor
Tripadvisor, the world's largest travel guidance platform*, helps hundreds of millions of people each month** become better travelers, from planning to booking to taking a trip. Travelers across the globe use the Tripadvisor site and app to discover where to stay, what to do and where to eat based on guidance from those who have been there before. With more than 887 million reviews and opinions of nearly 8 million businesses, travelers turn to Tripadvisor to find deals on accommodations, book experiences, reserve tables at delicious restaurants and discover great places nearby. As a travel guidance company available in 49 markets and 28 languages, Tripadvisor makes planning easy no matter the trip type. The subsidiaries of Tripadvisor, Inc. (NASDAQ: TRIP), own and operate a portfolio of online travel brands and businesses, operating under various websites and apps, including the following websites:
www.bokun.io, www.cruisecritic.com, www.flipkey.com, www.thefork.com (including www.lafourchette.com, www.eltenedor.com, www.bookatable.co.uk, and www.delinski.com), www.helloreco.com, www.holidaylettings.co.uk, www.housetrip.com, www.jetsetter.com, www.niumba.com, www.seatguru.com, www.singleplatform.com, www.vacationhomerentals.com, and www.viator.com.
* Source: SimilarWeb, unique users de-duplicated monthly, March 2021
** Source: Tripadvisor internal log file
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SOURCE Tripadvisor