After a year spent cooped up in your home, are you willing to spend a little extra money on a longer, more luxurious vacation?
If so, you’re not alone.
New data shared by French travel and tourism operator Club Med suggests that, as of February 2021, travelers are spending more money on longer vacation plans.
“It’s great to see that holidaymakers are now using their saved up money to rightly treat themselves after a long time of inactivity,” said Estelle Giraudeau, Managing Director U.K. & Northern Europe at Club Med (via TravelPulse.com). “This has been reflected in the increase in average booking cost proving that our customers are looking for a holiday to make up for all those missed in 2020. The popularity of sun destinations close to the UK also shows the public yearning for a summer holiday once international travel is back on the cards.”
This new information from Club Med is further evidence of a sensation called “revenge travel.”
Revenge travels refers to the trend of travelers spending more money on bigger trips, due to the near-impossibility of traveling in 2020, and the money they were able to save as a result.
This trend is also referred to as “upsizing.”
GlobalData, a data and analytics company, recently surveyed consumers around the world to gauge their willingness to upsize their next vacations. The data collected suggests 13% of travelers could be willing to go big on their next trips.
“Many of the travelers that make up this 13% are likely to be white-collar workers that can work effectively at home,” Ralph Hollister, a Travel and Tourism Analyst at GlobalData, told TravelPulse.com. “Due to spending the vast majority of their time being confined to their homes in the past year, the urge to travel would have built up.
“This urge, combined with a significant increase in savings, could mean that many of these travelers will have developed a ‘treat yourself’ mentality, to combat the impact of the pandemic which has increased boredom and frustration for many,” Hollister added. “This mentality could be present as these consumers start planning their next holiday, which could result in them spending more on room upgrades, business class flights and higher quality rental vehicles.”
Of course, the other side of the coin is difficult to ignore.
While many people have saved money staying home during the pandemic, others have lost jobs and income throughout the crisis, and will likely be unable to travel as a result.
Where do you stand on revenge travel? Are you ready to open your wallet for a big, expensive vacation?