Despite a rise in cases globally and an 18 percent increase in average airfares since the start of the year, people feel more comfortable going for far-flung adventures. In this news, we inform Leisure Travel Is Back to 2019 Levels.
American consumers are spending less on products and more on experiences a trend that could ease supply and inflationary pressures, and help the travel industry this summer.
According to a report released by the Mastercard Economics Institute, leisure travel has returned to 2019 levels for the first time since the pandemic halted movement around the world.
Despite a rise in cases globally and an 18 percent increase in average airfares since the start of the year, people feel more comfortable going for far-flung adventures.
“If flight bookings continue at their current pace, there will be an estimated 1.5 billion more passengers flying globally in 2022 compared to last year,” the report said, adding that the biggest increase is in Europe – about 550 million.
Long-distance travel, which started at 75 percent below pre-pandemic levels in the year, rose to just 7 percent, down from 2019. by the end of April.
Passenger rail is similarly close, with buses back where they were. Spending on cruises started the year at 75 percent from a 2019 peak and is now shy of 10 percent to fully recover.
Pent-up demand for experiences appears to be waning with tourist spending on nightclubs and bars up 72 percent from 2019 levels, restaurants up 31 percent, and other recreational activities like museums, concerts, and amusement parks up 35 percent. has increased. to report.