Step by step, life returns to before the pandemic. Proof of this is the fact that reservations for leisure and business trips have risen to pre-Covid levels, recording a figure 25% higher than they were in 2019, according to the latest study by the MasterCard Institute of Economics, “Travel 2022: Trends and Transitions”.
By the end of April, bookings for short and medium-haul leisure trips had grown by 25% and 27%, respectively. Business trip bookings also exceeded pre-pandemic levels for the first time in March, showing a double-digit growth trajectory through April. According to the study, one of the main drivers for this climb was a return to work.
But not only in flights there was a significant improvement. Spending in the transportation sectors hardest hit by the crisis caused by the coronavirus rose again, driven by an increase in mass travel.
Although below 2019 levels, cruise-related spending increased by 62 percentage points between January and April of this year. On the other hand, expenditures related to express passenger transportation are back to pre-pandemic levels – however, train travel is still 7% below expectations, compared to the above period. Regarding car rental fees, expenses continue to grow by 19% and 12%, respectively, revealing that “car trips are still the preferred option for many”, read in the study.
Findings from the Mastercard Institute of Economics also indicate that travelers prefer spending on experiences more than buying, with expenditures related to the former increasing 34% compared to 2019. Bars and clubs (72%), theme parks, museums, concerts, and other leisure activities (35%) were Areas that saw the largest increases.
Last but not least, the Top of destinations. The report notes that travel presentation and comfort were among the determining factors in the choice of travel destinations. However, lifting the restrictions has led to a return to the starting point in most parts of the world, with the exception of some parts of Asia Pacific. The United States, the United Kingdom, Switzerland, Spain and the Netherlands are now the main destinations for tourists worldwide. In the European scenario, England, Spain and Italy were enshrined in Top 3, with Portugal in ninth place in the table.
“The resilience of consumers that they have to get back to normal and make up for lost time makes us optimistic that recovery will continue its course, even if there are hurdles along the way.”
