Report: Travel Spending in 2022 Expected to Outpace Pre-Pandemic Levels

People are looking forward to more trips than last year and planning to spend more or the same on travel in 2022 compared to a typical pre-pandemic year, American Express says in its 2022 Global Travel Trends Report.

Released on Monday, the report reveals that consumers are traveling to see the people and places they love, celebrate important life events, embark on wish list trips, experience in-person events, and seek greater wellness and self-care. It is is based on data from the United States, Australia, Canada, Mexico, Japan, India and the United Kingdom.

According to the report, 74 percent of respondents are willing to book a trip for 2022 even if they might have to cancel or modify it later. This is up from 56 percent last year.

Spending on travel is outpacing pre-pandemic levels: 86 percent of consumers expect to spend more or the same on travel in 2022 compared to a typical pre-pandemic year.

In addition, tourists want to travel more frequently: 62 percent of respondents plan on taking 2-4 trips in 2022 and 76 percent plan to travel more with family in 2022 than they did in 2021.

Source: American Express

Other top insights from the American Express Travel: 2022 Global Travel Trends Report include:

– Tourists are seeking out brands that prioritize supporting local communities: 81 percent of respondents want to visit destinations where they can immerse themselves in the local culture and want the money they spend while traveling to go back to the local community.

– Dream destinations are becoming a reality: 55 percent of respondents want to book a once-in-a-lifetime vacation this year; especially true for Millennials (67 percent) and Gen Z (65 percent).

Source: American Express

– As entertainment returns so do trips tied to in-person events: 56 percent of respondents stated they held off on traveling for major entertainment events last year but have plans to return to these types of events this year.