Business View Magazine | Volume 8, Issue 8

8 BUSINESS VIEW MAGAZINE VOLUME 8, ISSUE 8 of travelers are comfortable showing a vaccine passport to travel internationally. The research also shows an increased desire for new and different experiences over nostalgic destinations, with three-quarters (75%) of travelers likely to select a travel destination they’ve never been to before. Additionally, more than half (52%) are likely to use a new mode of transportation, and nearly a quarter (22%) are looking for a once-in-a- lifetime experience on their next trip. Financial security and safety are top priorities Financial security and safety rank as the highest priorities for travelers across all experiences, a shift from the conventional wisdom that price drives consumer behavior. More than one in four travelers most value the ability to get a refund, particularly for airline (26%) and vacation rental (26%) experiences, followed by enhanced cleaning and disinfection. The results highlight a need for travel providers to clearly communicate cancellation policies and cleanliness measures to help ease any anxieties and build confidence. The Traveler Value Index also shows differences in values by age group, indicating that younger groups are less focused on price and refunds. These include: • For hotels and vacation rentals, the ability to get a full refund increases in value with age. However, travelers under the age of 40 in the US and Japan rank enhanced cleaning the most important factor in hotel bookings, while also seeing more value in contactless experiences and premium benefits. • Airline travel decisions are also shaped by financial security, where more than a quarter of respondents (26%) most value the ability to get a full refund. However, millennial and Gen Z travelers, or travelers under the age of 40, see more value in contactless experiences, first- class benefits, and environmentally friendly policies compared to older generations. • North American millennials, or those born between 1981 and 1996, value flexibility in car rental decisions, ranking the ability to make changes second. The trend of North American millennials valuing flexibility is also evident in air travel, showing how the ability to change plans without penalty is worth just as much as lower pricing. • Cruise passengers are the only respondents from numerous countries who rank low pricing as the top value. However, North American Gen Z travelers, or those born in 1997 onwards, rank environmentally friendly policies second in the list of values, showing that younger age groups weigh the environmental impact of their travel decisions in addition to price. *Expedia Group’s Traveler Value Index research was conducted by Wakefield Research between April 16 and May 7, 2021. Respondents included 8,000 nationally representative adults ages 18+ from eight countries: Australia, Canada, France, Germany, Japan, Mexico, the United Kingdom, and the United States. As vaccination rates rise and borders open across the globe, people are ready and eager to travel