Covid-19 Vaccine will Fuel Travel Industry Recovery, Says Expedia

People miss traveling and long to reconnect with their friends, family, and colleagues once a Covid-19 vaccine is widely available, an Expedia Group report has highlighted.

Expedia recently released its 2021 Travel Trends Report, highlighting the critical role travel will play in bringing people together following nearly a year of relative isolation. The report contains findings from a study of 2,200 Americans in partnership with data intelligence firm Morning Consult, which explored how Covid-19 has influenced trip plans and the way consumers feel about travel in the year ahead.

The survey found that once circumstances related to the pandemic have stabilized, people plan to take more extended trips, while they are budgeting a significant amount of money for travel.

“Pent-up demand indicates even the travel sectors hit hardest by Covid-19 may start to recover sooner than expected. This is a positive signal not only for travel, but also for broader economic recovery, and the communities across the globe that rely on tourism,” said Anni Murphy, corporate communications manager at Expedia Group.

Key findings from Expedia Group’s 2021 Travel Trends Report include:

• Initiatives to reduce the spread of Covid-19 will fuel travel industry recovery

– Almost half of the respondents are more likely to travel when a Covid-19 vaccine is widely available

– 42 percent said recent news regarding the vaccine made them more hopeful about travel, or drove them to book an upcoming trip.

Source: 2021 Travel Trends Report, Expedia

• Travelers will take more trips and extend their vacations

– 44 percent will take more trips in 2021 than 2020, with younger generations traveling the most overall

Source: 2021 Travel Trends Report, Expedia

– More than one in three respondents said their next trip will be a week, or longer.

• Consumer spending will be high in 2021

– People are saving 3,444 dollars on average for their next trip, but Millennials plan to spend significantly more.

• Cities will make a comeback

– Flight demand data on Brand Expedia show Americans plan to visit destinations like New York City and Los Angeles.

• Travel will serve as a force for good

– 63 percent said travel creates greater cultural understanding, while 56 percent reported that travel is healing.

Source: 2021 Travel Trends Report, Expedia

The report also combined proprietary data from Brand Expedia, Expedia Group Media Solutions, Travelocity, and Vrbo with the aim to provide a broad outlook on travel and industry recovery in 2021.