American Express Reveals 2023 Top Travel Trends

Rhea-AI Summary

The American Express Travel 2023 Global Travel Trends Report reveals a notable increase in travel spending among Gen Z and Millennials, with 50% planning to invest more in travel than in 2022. Key trends include 'set-jetting' inspired by pop culture, a focus on food experiences, and an emphasis on wellness, with 73% prioritizing vacations for mental and physical health. Additionally, 85% of travelers want to immerse themselves in local cultures. The report, based on a survey of 3,000 travelers across multiple countries, indicates an ongoing demand for travel access and personalized itineraries.

Positive

• 52% of respondents plan to take more trips than last year.
• 50% will spend more on travel in 2023 compared to 2022.
• 84% of Gen Z and Millennials prefer vacations over luxury purchases.
• Travel demand remains strong as seen in survey participation from multiple countries.

Negative

• None.

• American Express Travel’s 2023 Global Travel Trends Report¹ shows travelers, and particularly Gen Z and Millennials², plan to spend more on travel in 2023 than 2022.
• Travelers are inspired by their favorite shows and movies, choosing their next dream destination based on what they’ll eat, and driven by a desire for greater wellness and support for local communities.

NEW YORK--(BUSINESS WIRE)-- American Express Travel® released their 2023 Global Travel Trends Report today, highlighting four global trends inspiring people to travel this year:

American Express Travel's 2023 Global Travel Trends Report

• The Rise of “Set-Jetting”: Popular movies, TV shows and social media are inspiring people to travel to places they see onscreen, like Italy, Paris, Yellowstone, and London
• Delicious Destinations: From top restaurants to local favorites to cooking classes, people are choosing their next destination based on what they’ll eat
• A Wellness Wave: Restorative vacations are on the rise as travelers prioritize self-care and mental and physical health
• Traveling Off the Beaten Path: Travelers want to discover hidden gems and support the local community when they visit

The report, based on survey data from travelers from the United States, Australia, Canada, Mexico, Japan, India and the United Kingdom, found that more than half (52%) of respondents say they plan to take more trips this year than last year and 50% of respondents are planning to spend more money on travel in 2023 than 2022. 84% of Gen Z and Millennials surveyed would rather take a dream vacation than purchase a new luxury item, and 79% agree that travel is an important budget priority.

“Vacations are precious, and travelers are prioritizing personalized itineraries built around their passions, from planning an entire vacation for a single dinner reservation to getting the perfect video for TikTok,” says Audrey Hendley, President of American Express Travel. “No matter what the inspiration is, American Express Travel Consultants have the expertise to help every type of traveler plan all types of trips.”

Top insights from American Express Travel’s 2023 Global Travel Trends Report include:

• Pop culture and social media are influencing the rise of “set-jetting,” especially among younger travelers.
  • 75% of respondents agree that they have been inspired to travel to a specific destination by social media
  • 70% of Gen Z and Millennials surveyed agree that they have been inspired to visit a destination after seeing it featured in a TV show, news source, or movie
  • 46% of Gen Z and Millennials surveyed say they have been inspired to travel to a destination because of Instagram
    
    
• From visiting top restaurants and local favorites to taking a cooking class, food has a huge impact on where people travel.
  • 81% of respondents agree that trying local foods and cuisines is the part of traveling they look forward to the most
  • 66% of Gen Z and Millennials surveyed agree that they get most of their eating-while-traveling inspiration from social media
  • Nearly half (47%) of Gen Z and Millennials surveyed agree that they have planned an entire trip around visiting a specific restaurant
    
    
• Prioritizing self-care is leading to a rise in restorative vacations.
  • 73% of respondents are planning vacations to better their mental, physical, and emotional health this year
  • 60% of Gen Z and Millennials surveyed say they go out of their way to book hotels that offer spa and wellness services
    
    
• Travelers want to discover hidden gems and support the local communities they visit.
  • 85% of respondents want to visit a place where they can truly experience the local culture
  • 78% of respondents are interested in going on vacations that support local communities in 2023

As the demand for travel continues into 2023, American Express Travel provides eligible Card Members with exceptional travel access, including 1,400+ airport lounges through its Global Lounge Collection; 7,000+ Travel Consultants; restaurant reservations through Resy and curated where-to-eat guides at Resy.com/Travel; benefits at 2,000+ hand-picked hotels around the world via Fine Hotels + Resorts® and The Hotel Collection; and more.

The full American Express Travel 2023 Global Travel Trends Report can be viewed here.

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: personal cards, business cards and services, travel services, gift cards, prepaid cards, merchant services, Accertify, Kabbage, Resy, corporate card, business travel, diversity and inclusion, corporate responsibility and Environmental, Social, and Governance reports.

Methodology:

¹The American Express 2023 Global Travel Trends Report is based on data obtained through an online poll conducted by Morning Consult between February 3rd – 11th, 2023 among a sample of 1,000 travelers from Australia, Canada, India, Japan, Mexico, UK and 2,000 travelers in the US who have a household income of at least a $70k equivalent, and who typically travel by air at least once a year. Results from each market’s survey have a margin of error of plus or minus 3 percentage points.

²Gen Z and Millennials are defined as respondents as being born between 1981 - 2012.

Seller of Travel

American Express Travel Related Services Company, Inc. is acting solely as a sales agent for travel suppliers and is not responsible for the actions or inactions of such suppliers. Certain suppliers pay us commission and other incentives for reaching sales targets or other goals and may provide incentives to our Travel Consultants. For more information visit www.americanexpress.com/travelterms.

California CST#1022318; Washington UBI#600-469-694

Source: American Express Company

Location: New York

View source version on businesswire.com: https://www.businesswire.com/news/home/20230323005091/en/

AMERICAN EXPRESS

Emily Vicker

Emily.Vicker@aexp.com

Source: American Express

FAQ

What are the key findings from the American Express Travel 2023 Global Travel Trends Report?

The report highlights increased travel spending, particularly among Gen Z and Millennials, with 50% planning to spend more on travel than last year.

How does pop culture influence travel according to the 2023 Global Travel Trends Report?

The report notes a trend called 'set-jetting,' where 70% of Gen Z and Millennials are inspired to visit destinations featured in movies and TV shows.

What percentage of travelers prioritize wellness in their travel plans?

73% of respondents are planning vacations aimed at improving their mental and physical health.

How has American Express Travel's report influenced traveler spending in 2023?

The report indicates that 50% of travelers plan to invest more in travel in 2023 than in the previous year.

What demographic is most influenced by social media for travel inspiration?

The report found that 75% of respondents have been inspired to travel by social media, especially among younger travelers like Gen Z and Millennials.