In its 2nd annual report, Flywire surveyed more than 600 luxury travelers from the United States to understand what they’re doing, where they’re going and how they will make their travel decisions in 2023. Key takeaways: Once-in-a-lifetime events are on their radar. In 2023, luxury travel means 5 star hotels & much more. When it comes to payments, luxury travelers want safe & easy. Luxury travelers are spending even more than last year on vacations.
GLOExecutive Summary
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Once-in-a-lifetime events are on their radar
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In 2023, luxury travel means 5 star hotels & much more
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When it comes to payments, luxury travelers want safe & easy
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Luxury travelers are spending even more than last year on vacations
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Hybrid work is a boon for travel
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They prefer to travel with their significant other & family
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Travel advisors are key to achieving truly luxury travel experiences
Vacations are hotter than ever as the ongoing travel resurgence appears in full force A couple of similar themes from our 2022 report came in loud and clear: luxury travelers are planning to spend more money this year than they did last, with the average amount per season increasing significantly. This increase can at least be partially attributed to a few findings we uncovered: trips are lasting longer and travelers are using travel agents and advisors more to help them plan personalized, specialized vacation experiences. Why? As one respondent put it, “An extended vacation with many destinations needs professional support.” Interestingly, younger generations (Millenials/Gen Z) are more likely to take advantage of the travel assistance from agents/advisors, with Boomers more likely to say they are not using them, nor planning on doing so.
And some new trends have emerged. Maybe it was all that time cooped up at home, but group travel, in particular, seems to be of interest for luxury travelers. A “group” to them can mean traveling with their family, a group of friends, or in a small and private group. Most notably, 91% of them are likely to pay more for an opportunity to travel with a private group for unique experiences. They also have their sights set on special events they don’t want to miss, such as the 2023 FIFA Women’s World Cup in Australia and New Zealand, and the 2024 Summer Olympics in Paris. 83% of respondents said traveling for special events allows them to turn trips into longer ones. And with the four-day workweek catching on in the U.S., the trend could be a boon for travel. 85% said a four-day workweek would allow them to take a lot more weekends for travel. And their hybrid work schedules are even allowing them to travel whenever they want, especially in the off-season.
Read full report to learn even more about the evolving preferences of U.S. luxury travelers.
