New Data Reveals The Financial Impact Of The Pandemic On Holidays

Rhea-AI Summary

trivago's new survey reveals a strong desire among travelers for a memorable summer in 2022. Travel restrictions during the pandemic led to an average saving of £1887.70 for potential travelers, with many planning to spend more on holidays this year. Notably, 33% of regular vacationers have firm travel plans, while 37% intend to increase their holiday budgets. Despite this optimism, financial concerns outweigh health worries, as 48% would book trips with money-back guarantees if cancellations occur.

Positive

• 33% of travelers have firm plans for 2022 holidays.
• 37% of travelers plan to spend more on holidays.
• 66% of 18-24 year-olds are willing to increase holiday spending.

Negative

• 48% of travelers prioritize financial guarantees over health concerns.

Latest data from trivago shows a real appetite from travellers to make 2022 ‘the best summer ever’

New data from trivago (using One Poll) reveals that travel restrictions during the pandemic saved would-be travellers an average of £1887.70, with almost one-in-ten (8%) saying they saved over £5000. When asked what they have done with the money, 45% said they put it in a savings account, 22% treated themselves, 20% put it towards a large purchase and 19% put it towards rent or a deposit for a house.

As travel restrictions finally lift, the appetite to travel is recovering strongly. Of those who generally have at least one holiday a year, a third (33%) have already made firm plans to travel in 2022 and a further 21% have made tentative plans. In total, over a third (34%) say they have been browsing/investigating future holidays more than before the pandemic.

The pandemic has also increased Brits willingness to spend more on their travel habits - almost four-in-ten (37%) travellers plan on spending more on their holidays. This rises to two-thirds (66%) of 18- to 24-year-olds. Where travellers reside has a marked impact in spending. Whilst over half (55%) of Londoners are planning on spending more on their holidays this year, only 20% of travellers from East Anglia are willing to dig deeper into their wallet. In total, it is the over 65s who remain the most cautious, with 18% saying they will likely spend less than if the pandemic hadn’t happened.

However, despite Brits saving money by being unable to travel during the pandemic, wannabe travellers are still more concerned about their finances than their health. In fact, the research revealed that 48% of UK travellers would make concrete plans if they could guarantee their money back should they get their holiday cancelled, compared with 33% who said they would be more likely to book if there was a guaranteed low risk of catching Covid-19.

Percentage of travellers willing to spend more on their holiday than they would have done pre-pandemic, by region:

Column % n	East Anglia	East Midlands	London	North East	North West	Northern Ireland	Scotland	South East	South West	Wales	West Midlands	Yorkshire and the Humber
Much more	3%	2%	24%	11%	7%	0%	15%	7%	9%	15%	15%	10%
	4	3	59	7	14	0	23	18	15	12	23	13
A little more	17%	22%	31%	31%	26%	41%	20%	32%	25%	26%	28%	17%

“Expectations are high that this could be the best summer ever. Of those who have firm plans to travel, over half (51%) believe that 2022 is going to be their best summer yet for travel,” comments Axel Hefer, CEO of trivago. “Travellers are tired of waiting for a dream getaway. Three-in-ten (30%) told us they are planning on organising a ‘bucket list' holiday sooner than originally thought due to the pandemic.”

ENDS

Notes to Editors:

The survey was deployed online and ran from February 25-March 3, 2022 polling a sample of 2,000 adults age 18+ in both countries for a total of 4,000 respondents. For both countries, quotas were used to ensure an accurate representation of each countries’ population by gender, age, geographic region, education, and income.

About Trivago:

trivago is a leading global hotel search platform focused on reshaping the way travelers search for and compare hotels and alternative accommodations. Incorporated in 2005 in Düsseldorf, Germany, the platform allows travelers to make informed decisions by personalizing their hotel search and providing them access to a deep supply of hotel information and prices. trivago enables its advertisers to grow their businesses by providing access to a broad audience of travelers via its websites and apps.

Press Contact

Contacts:
Press Contact: Trivago Unity Team trivago@hellounity.com

Forward-looking statements

This press release contains certain forward-looking statements. Words, and variations of words such as “believe,” “expect,” “plan,” “continue,” “will,” “should,” and similar expressions are intended to identify our forward-looking statements. These forward-looking statements involve risks and uncertainties, many of which are beyond our control, and important factors that could cause actual events and results to differ materially from those in the forward-looking statements. For additional information factors that could affect our forward-looking statements, see our risk factors, as they may be amended from time to time, set forth in our public filings with the Securities and Exchange Commission. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.

 

FAQ

What percentage of travelers have made firm plans to travel in 2022?

33% of travelers have made firm plans to travel in 2022.

How much money did travelers save on average during the travel restrictions?

Travelers saved an average of £1887.70 during travel restrictions.

What is the primary concern for UK travelers according to trivago's survey?

Financial concerns are the primary worry for 48% of UK travelers.

What age group is most inclined to spend more on holidays in 2022?

Two-thirds (66%) of 18- to 24-year-olds plan to spend more on their holidays.

How did the pandemic affect holiday spending plans?

The pandemic increased the willingness of travelers to spend more on holidays.