Business View Magazine | Volume 8, Issue 8

7 BUSINESS VIEW MAGAZINE VOLUME 8, ISSUE 8 O p e n i n g L i n e s NEW RESEARCH REVEALS PRICE NO LONGER PRIMARY DRIVER OF TRAVEL DECISIONS Safety and financial security emerge as top considerations in pandemic-focused study from Expedia Group N ew research from Expedia Group reveals shifting views on travel, including positive sentiment on vaccine passports, increased budgets, and an enduring demand for safety and financial security. The Traveler Value Index examines the views of 8,000 people in eight countries to understand their values and expectations as the pandemic becomes more controlled in many parts of the world. “As vaccination rates rise and borders open across the globe, people are ready and eager to travel. However, the months of uncertainty are weighing on their travel decisions and shifting the conventional belief that price is the top driver of bookings,” said Ariane Gorin, president, Expedia for Business, Expedia Group. “These insights show people want to book with trusted travel providers that will deliver on their experiences, keep them safe, and protect their financial investments.” Improved outlook for 2021 and beyond Despite a period of uncertainty, the Traveler Value Index shows that people are making travel a financial priority. More than a third (34%) of travelers have larger travel budgets now compared to 2020. In fact, nearly one in five respondents globally (18%) expect travel to be the activity they spend most on in 2021, on par with major spending items such as home renovation (18%) and ahead of entertainment (12%), buying or taking care of a car (11%), or healthcare (11%). Additionally, more than a third (36%) say they would trade a pay raise for more vacation days Travelers are thinking differently about the frequency and length of travel. Many (60%) are opting for domestic travel in the short-term, however they are planning to get away more often, nearly half (41%) wanting more frequent, shorter, trips. The outlook for international travel is also improving, with more than a quarter (27%) of travelers considering a trip to another country in the next year. In fact, nearly three-quarters (71%)