Articles tagged “inflation”

An increasing number of Americans have started to feel the pinch of increasing travel prices. Thirty-four percent of Americans, 10 percentage points higher than last October, plan to decrease their spending on travel in the next 12 months.

Get the lowdown on the broader economic trends affecting travel in 2023, thanks to data and analysis from Skift Research. Watch this Skift Megatrends video to stay ahead of the game.

The year 2022 has been a contrast between massive pent-up demand and revenge travel on the one hand, and worries about rising prices, growing inflation, and a possible recession on the other.

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It’s the first time that prices are cooling off this year, but experts warn this deflation won’t last long with more “correction cycles” to come.

The global tourism recovery is starting, but the Australian travel agency that came to be 40 years ago on airline bookings feels left out, being stuck with carriers reducing their commissions and a population still reluctant to book overseas vacations like they did in 2019.

Having narrowed its net loss in its fiscal second quarter, MakeMyTrip's bet to concentrate on India's hinterlands seems to have paid off as the online travel agency noted that a major part of its new traffic came from smaller cities.

Skyrocketing costs are putting unprecedented pressure on meeting and event professionals to stay on budget and still produce successful events. However, there are ways to alleviate the added costs. 

High season ... what high season? In September, 57 percent of Americans traveled, 10 percentage points higher than last September. The normal fall slump after the summer months did not occur, highlighting how the vacation season is being stretched as demand — and prices — remain high.

Europe's biggest hotel group believes it will be able to overcome inflation through strong pricing power as guests are still showing they are willing travel at any cost. So far, so plausible, at least in the short term.