Whether or not they are the origin of trip planning, travel experiences are clearly worthy of attention. Spending on travel experiences has increased by one-third since 2019, outpacing growth in the consumer goods space by 8 percentage points. And according to a research report by Skift and McKinsey, the travel experience market represents a $1 trillion opportunity globally.
The overwhelming majority of executives (63 percent) believe that travelers consider the experiences they want to have first and then book their travel around those plans. Thirty-six percent say that while experiences are one factor in travelers’ decision-making, other factors are more dominant. Only 2 percent of respondents believe traveler decisions are not influenced by experiences.
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