American Express Launches 2021 Global Travel Trends Report

Rhea-AI Summary

American Express (NYSE: AXP) released the American Express Travel: Global Travel Trends Report, revealing strong consumer interest in travel nearly a year after the COVID-19 pandemic. Key findings include that 87% of respondents feel planning future trips gives them hope, with 76% working on destination wish lists. Notably, 56% would book tomorrow despite potential cancellations, and 68% are aiming for sustainable travel. The report highlights a shift towards personalized luxury travel and conscious consumerism, as 72% plan to support local economies while traveling.

Positive

• 87% of respondents feel having a trip planned gives them hope.
• 56% would book a trip now despite possible cancellation.
• 68% are increasingly interested in sustainability-friendly travel options.
• Personalized luxury travel experiences are highly sought after.

Negative

• None.

American Express (NYSE: AXP) released the American Express Travel: Global Travel Trends Report today, which provides unique insight into consumer sentiment toward travel nearly one year after the COVID-19 pandemic began. The findings in the report, grounded in survey research across seven countries, including the United States, Australia, India, Canada, Mexico, Japan and the United Kingdom¹, demonstrates that consumers are looking forward to traveling again and that they are planning for future trips.

American Express Travel: Global Travel Trends Report Finds Consumers are Looking Forward to Traveling Again (Graphic: Business Wire)

Top insights include:

• Strong Pent-Up Demand for Travel: 87% of people surveyed said that having a trip planned in the future gives them something to look forward to, 76% of respondents are creating their destination wish list for future travel even though they might not be able to travel yet and 63% of respondents said that they are saving their credit card points so they can go on a vacation once they feel comfortable traveling.
• Ready to Book Now: 56% of respondents said that they miss traveling so much that they are willing to book a trip now even if they might have to cancel it in the future.
• Rise of The Digital Nomad: 54% of respondents said that the freedom and flexibility of being able to live and work while traveling the globe is more appealing now than it was prior to the pandemic.
• Safety is a Priority: 65% of respondents said they plan to travel after they and their family members have received a vaccine for COVID-19.
• Privacy is the New Ultimate Luxury: 75% of respondents agree that the experiences that offer ultimate privacy is becoming a key sought-after feature of luxury travel.
• Increase in Sustainable Travel: 68% of respondents agree they are trying to be more aware of sustainability-friendly travel brands to support.

“Our latest global trends report shows that there is a pent-up demand for travel among consumers, with many people longing for and beginning to plan future trips,” said Audrey Hendley, President of American Express Travel. “In addition, the pandemic environment is giving rise to emerging trends, such as the increasing appeal of working from anywhere while traveling globally, luxury being defined as more personalized experiences, cleanliness and privacy as the ultimate luxury amenities, as well as a growing interest in the environmental and social purpose of their trips and travel companies.”

Here’s a look at key findings from the report:

CONSUMERS ARE LOOKING FORWARD TO TRAVELING AGAIN

People are finding hope and comfort in thinking about and even planning future trips.

• Travel to Uplift Health & Wellness: 78% of respondents indicate wanting to travel in 2021 to relieve the stresses from 2020.
• Planning and Paying for Future Travel: One in three say they will more frequently use travel credits or points to pay for all or part of a trip in 2021 than they did prior to the COVID-19 pandemic.
• Making Up for Missed Travel: 61% of survey respondents plan to spend more than they normally would on a trip in 2021 since they could not travel in 2020.
• Consumers Willing to Make Sacrifices to Travel: 64% of respondents miss traveling so much that they would be willing to give up social media for a month to be able to go on vacation.
• Culinary Tourism is Here to Stay: 62% of respondents say that eating is the top activity they are interested in doing while traveling, and American Express Travel booking data for January 2021 shows foodie centric cities as top destinations for U.S. and International Card Members. Miami, San Francisco, Chicago and Houston are hot spots for U.S. American Express Card Members² whereas Mexico City, Singapore and Tokyo are topping the list for International American Express Card Members³.

THE NEW TRAVEL MINDSET

With regular changes to booking policies, travel offers, and new destinations to consider, there is a new travel mindset today.

• Luxury Travel: The pandemic has changed peoples’ perception of luxury travel with personalized experiences (82%), high cleanliness standards (81%) and privacy (79%) being the most desirable luxury amenities among respondents¹. 59% indicate that they want to use a travel agent to help plan and customize their next trip and 80% indicate they are willing to travel to destinations during the offseason so that it's less crowded.
• Surge in ‘Second-City’ Destinations: 69% of respondents are interested in visiting lesser-known destinations and American Express Travel booking data reinforces this trend, showing a rise in reservations for second-city destinations. For example, Dallas and Charlotte saw a higher share of bookings from International Card Members in January 2021 than the previous year⁴ and American Express Travel consultants are seeing requests for smaller cities like Porto (instead of Lisbon) in Portugal, and Wellington (instead of Auckland) in New Zealand.

TRAVELING WITH PURPOSE

Consumers are becoming more conscious travelers, are more aware of travel companies aligned with their values and will journey to destinations where they can have a positive impact on communities.

• Backing Local Communities: 72% of respondents agree that they are passionate about traveling to destinations to help boost tourism revenue and the local economy¹.
• Supporting Travel Brands that Prioritize Diversity & Inclusion: 69% of respondents agree that they want to choose an airline/hotel that values diversity and inclusion, and whose employees reflect a diverse customer base.
• Carbon Conscious Travelers: 60% of respondents agree they want to book airlines that have a carbon neutral commitment.

American Express Travel’s 4,500 travel consultants provide customers with world-class service, where high-tech meets high-touch support, 24/7. To give customers more value and confidence whenever they’re ready to travel, the company has rolled out a number of discounts and offers across hotel, air and car rentals and extended American Express Travel cancellation fee waivers through the end of September. To find out more visit AmexTravel.com.

For additional findings and more information on the American Express Travel: Global Travel Trends Report, visit here.

AMERICAN EXPRESS TRAVEL: GLOBAL TRAVEL TRENDS REPORT METHODOLOGY

¹ This Amex Trendex online poll was conducted by Morning Consult between January 15-24, 2021 among a national sample of 1,000 travelers in Australia, Canada, India, Japan, Mexico and the U.K., and 2,000 in the U.S. $70k+ USD household income (HHI) equivalent in Australia, Canada, Japan, the U.K. and the U.S., $50k+ USD equivalent HHI in Mexico, and $20k+ USD equivalent household income in India. Travelers defined as adults who traveled by air at least once in 2019. Results have a margin of error of plus or minus 2 percentage points in the U.S.; plus or minus 3 percentage points in the other countries.

² Based on U.S. Card Member flight and hotel bookings made through American Express Travel in January 2021

³ Based on International Card Member flight and hotel bookings made through American Express Travel in January 2021

⁴Based on International Card Member hotel and air bookings made through American Express Travel in January 2021 compared to January 2020.

ABOUT AMERICAN EXPRESS

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products, services and corporate responsibility information: charge and credit cards, business credit cards, travel services, gift cards, prepaid cards, merchant services, Accertify, InAuth, corporate card, business travel, and corporate responsibility.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210309005322/en/

FAQ

What does the American Express Travel report reveal about consumer sentiment towards travel?

The report finds that 87% of consumers feel hopeful with planned trips, indicating strong pent-up demand for travel.

How many respondents are willing to book a trip despite potential cancellations?

56% of respondents expressed willingness to book trips now even if they may have to cancel.

What percentage of respondents are considering sustainable travel options?

68% of consumers are trying to support sustainability-friendly travel brands.

What are some emerging travel trends identified in the report?

The report highlights trends like luxury defined by personalized experiences, increased interest in second-city destinations, and a rise in conscious consumerism.

How does American Express Travel plan to enhance customer experience post-pandemic?

American Express Travel has rolled out various discounts and extended cancellation fee waivers to provide added value and confidence to consumers.