Travel Demand on the Rise, Says Mastercard: Great IHG Hotel Travel Tips

There’s good news for the travel and tourism industry worldwide, as a new Mastercard study finds that consumers and business travelers alike expect to increase their travel in the next few years.

LEISURE AND BUSINESS TRAVEL BOOST

Between 2022 and 2025, consumers expect the number of annual trips they take to increase by 16%, while business travelers anticipate a 29% rise. Travel demand is being boosted by many factors, including pent-up demand, topped-up savings, flexible work arrangements and a widespread reordering of priorities. Many are also looking for reprieve: 71% of consumers told Mastercard that they’re desperate for a break from their daily lives, while 81% report that the pandemic taught them not to take travel for granted. This attitude is also fueling a “YOLO” (you only live once) mentality: 80% of travelers say they are just as, or more, likely than before the pandemic to spend on premium accessories and experiences that make their trips extra special.

SMALL BUSINESSES LEAD THE WAY

Business travellers at an airport. Martin Adams/Unsplash Photo

Small businesses believe that more face-to-face interaction with their stakeholders will deepen trust and boost their bottom line. Such sentiment helps to explain why small business owners expect that, by 2025, the amount of time they spend traveling will nearly double compared to 2019 levels. Travel budgets are rising accordingly: 76% anticipate increasing their travel spend over the next three years.

“BLEISURE” AND TRAVEL TECHNOLOGY

With the rise of hybrid and remote work, consumers can now maximize joy by blurring the lines of business and leisure travel like never before. This allows them to optimize the time and money invested in travel costs to get the most out of each trip. A rising focus on wellness itineraries also points to a desire to derive a meaningful outcome from travel — genuine restoration. In order to maximize their travel experience, consumers must find cost and time savings by optimizing their travel tools. 72% of millennial travelers are interested in using biometrics and other emerging technologies that make travel-related chores, like passing through airport security and checking in at hotels, faster and easier.

Consumers are embracing virtual environments to plan trips and to explore new worlds. These experiences allow consumers to immerse
themselves in unfamiliar places, while considering where to focus their spending — such as on tours, hotels, dining, and/or other experiences — in the physical world. Consumers are also increasingly interested in virtual experiences in their own right: 22% of consumers anticipated spending money on travel experiences in the metaverse (in 2022), including 36% of Millennials and 39% of Gen Z.

A DESIRE FOR SUSTAINABLE TRAVEL 

Yours truly with John Michel Cousteau at the Ritz Carlton Maui Kapalua.

Yet another major change in how people think about travel is their
growing desire to leave the places they visit better in a movement
toward “regenerative travel.” This partly means a greater emphasis on environmental stewardship such as travelers chipping in with carbon offset fees. It also involves paying greater attention to the social impact of one’s travels and choosing socially responsible destinations; “community-based” tourism aims to immerse travelers in the culture of their destinations, as well as build greater mindfulness on how to be constructive, respectful visitors.

IHG HOTEL AND SLOW TRAVEL TIPS

Here are five tips on how you can explore slow travel this year:   

• Getting lost is not as bad as you think. If you need to change your itinerary don’t hesitate. The best memories are made when you find your own path. Choose less but better when planning to connect to the place, it’s people and to oneself. (This is good advice. I have often veered off the popular paths and found delightful villages in Ireland, Australia, and many other places in the world)

Chef Michael Harrison and one of his favourite vendors in Bridgetown, Barbados. JIM BYERS PHOTO

• Shop at local markets. If you’re looking for souvenirs, skip the airport stores and visit the markets. Look for old antique stores and you’ll be sure to go home with something so rare you won’t need a picture to remember where you got it from.  You’ll also often find engaging locals to talk with.

• Choose to bike or walk over hopping into cars for a more enriching experience. Immerse yourself in the culture of where you are to educate yourself and experience a different world. You don’t need to be on a mountain to explore slow travel, you can do that downtown in the city, too.  

• If you liked a café or a dish, go back the next day. Deepen your relationship with the place rather than find a new hip spot that you saw on social media. 

• If you get a chance to interact with the locals, do it Get to know their favorite spots and food that you can try.  (I mentioned this yesterday in my travel tips for summer post.)

A free bike at the Kimpton Everly hotel in Los Angeles. JIM BYERS PHOTO

With properties all over the world, IHG Hotels & Resorts is ready to welcome you to experience slow travel. Whether it’s visiting the home of the world’s highest tides in Nova Scotia to the vast rice fields of Japan, they have you covered with places to rest and relax. And if you are an IHG One Rewards Member, now’s the time to enjoy those benefits. 

I’ve had great stays at several IHG hotels in the past few months, including Hotel Indigo in Denver and the stylish Kimpton Everly in Hollywood.