The idea distilled.
Despite increasing travel costs and tighter budgets, Australians, known for their love of travel, remain determined to make their travel plans a reality, with our research emphasizing the need for adaptability and flexibility in 2023 to accommodate the distinct emotional drivers that influence travel decisions.
If nothing else, three things to fuel your growth.
Strategic Behavioral Adjustments for Engagement: Recognize that travelers are adapting to economic pressures through five common behavioral adjustments, such as direct planning (DIY Planners), cost-conscious dining choices (DIY Diners), opting for shorter but more frequent trips (Less and More), exploring on a budget (Exploration Lite), and capitalizing on off-season travel (Time is Right for Some).
Seven Key Leisure Travel Mindsets: Understand the diverse leisure travel mindsets—Stress Relievers, Explorers, Indulgers, Self Nurturers, Knowledge Seekers, Connection Seekers, and Mindful Travelers—each driven by distinct emotional motivations, aspirations, and travel preferences, influencing the trade-offs and compromises travelers are willing to make to fulfill their travel dreams.
Tailoring Growth Strategies to Mindsets and Behaviors: Craft growth strategies by acknowledging the specific adjustments travelers make and aligning them with the unique emotional drivers and preferences associated with each of the seven key leisure travel mindsets, providing a nuanced approach to fuel growth in the travel sector.
Some additional food for thought…
- Passionate Travel Goals Despite Budget Constraints: Despite 51% of Australians experiencing budget challenges due to rising living costs, 80% express a deep commitment to travel as a significant life goal, showcasing a resilient passion for exploration.
- Surge in Travel Intentions and Expenditure: While facing budgetary impacts, there’s a notable surge in travel intentions, with 57% planning international trips (a 22% increase) and 92% planning domestic travels (a 9% increase), indicating an enduring commitment to travel experiences.
- Adaptation Strategies for Cost-conscious Travel: To manage rising costs, travelers are adopting strategic adjustments, including avoiding peak seasons (33%), cutting back on dining out (49%), opting for self-prepared meals (37%), taking shorter trips (37%), and expressing a willingness to compromise on location (67%), showcasing a flexible and adaptive approach to budget-conscious travel.
