Also, one of the triggers that had influenced this kind of growth in the travel industry was the special offers provided by various travel agencies and booking companies such as Booking Holdings, CWT, Expedia,American Express Global Business Travel and others. According to the research at promocodius.co.uk, many online booking platforms and agencies have increased their special offers and discounts by 157% in comparison to the year before.
NTTO experts have made a survey, checking if people would want to travel more if the prices for the trips were more affordable. Around 87% of people who took the survey gave a positive response.
Another research was made by the European Travel Commission (ETC) to check people’s interest in traveling with special promo codes. The results have shown that 84 out of 100 people who passed the survey would use discount codes on various platforms to get special prices on their vacation bookings. According to the research of Promocodius experts, 8 out of 10 visitors who were looking for discounts to travel before the pandemic, used to get Love Holidays discount code and were satisfied with package tours. But now almost 63% of such visitors prefer to use discounts and plan their vacation by themselves.
People are tired of domestic tourism
2020 and 2021 have shown that domestic tourism was not very affected by the pandemic, since many countries allowed traveling within the territories of their country. With this, the results of the 2021 travel statistics provided by NTTO have shown that demand for domestic tourism has increased by 72%.But with 2022 approaching, people started to be more interested in leaving the territories of their countries and traveling internationally again. The first two quarters have shown that the interest in domestic travel has decreased over 50%, yet international travel started to gain more interest again. The recent survey has shown that over 65 people out of 100 already prefer to travel internationally again.
Another study by ETC has shown that the first two quarters of 2022 have shown a dramatic increase in self-arranged trips. The car-rent demand has grown by 10% since 2021. And bookings on platforms such as Airbnb have risen by over 24% in comparison to the same period of the previous year.
The bottom line
The 56% increase in the travel industry in Europe is a significant number, considering that only 2 years have passed since the pandemic started. And seeing that the numbers are steadily growing since 2021, many experts foresee around 30% more growth by the end of the year. And the chances are high that 2023 will start with good numbers in the travel industry specifically.