The trend: Persistent inflation hasn’t dampened consumer desire to travel.
Zoom out: Most reports from airlines and hotel operators show no signs of softening demand, even as economic pressures drive more consumers to carefully manage spending in other areas.
The headwinds: Despite the bullish outlook, the travel industry isn’t immune to economic headwinds, including the tight labor market that’s making it difficult for airlines and hotels to attract staff and increasing operating costs.
The big takeaway: Robust demand for travel, despite rising prices, illustrates the premium consumers are putting on experiences after several years spent under lockdown and various other coronavirus-related restrictions.
After stocking up on everything from furniture to electronics during the pandemic, it’s no surprise that consumers are now boosting spending on travel and other services.
This article originally appeared in Insider Intelligence's Retail & Ecommerce Briefing—a daily recap of top stories reshaping the retail industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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