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Travel predictions for 2023..
Tania Platt
Vice president, global b2b travel, visa, bangkok or dubai singapore or paris whichever of these places people choose to visit in 2023, they’ll likely see a lot of fellow global travelers. both leisure and business travel have been on the rise according to visa’s q3 2022 global travel insight report . here are the top five trends i’m expecting to see for the travel industry this year..
TRAVEL TREND 1
Travel is back
These days, the buzzword in most travel conversations is “momentum". The travel industry is almost fully back to pre-pandemic levels , likely due to strong pent-up demand and continued desire to travel. And while the post-pandemic travel resurgence in Asia-Pacific has been slower than elsewhere, the travel industry is expecting to see increased international travel from China and other countries in the region as they continue to re-open.
TRAVEL TREND 2
Sustainability is hot
The travel industry is increasingly seeing that consumers are looking for, and even willing to pay more, for sustainable choices in accommodations and carbon neutral flight options , according to a recent study from Skift and McKinsey . The travel industry expects climate change and sustainability strategies to continue to be a priority for travelers this year.
TRAVEL TREND 3
Personalized trips are here
Thanks to novel uses of AI and machine learning capabilities, Online Travel Agencies (OTAs) will be focusing heavily on their connected trip strategies. These digital transformations would enable travelers to use “all-in-one” travel super apps. These “super apps” could allow people to better personalize their travel journeys, build out curated holidays and experiences, and purchase flights, car rentals, and other relevant activities all within a single ecosystem.
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TRAVEL TREND 4
Shifting from cash to cards
Contactless payments are on the rise and consumers are increasingly using digital payment options when traveling abroad. During the holiday travel season, for example, a recent Visa poll found that 33% of US travelers planned to rely mainly on digital payments when traveling internationally, while 42% intended to use a mix of digital and local payments. 1 As cross-border travel continues to climb, digital payment methods will lead the way for travelers who want to avoid currency exchanges or hunting down the nearest ATM to withdraw cash.
TRAVEL TREND 5
Fraud prevention improves
Travelers are seeking out ways to ensure secure and protected transactions, and general fraud avoidance. Reducing fraud and chargebacks will be one of the top priorities for the travel industry.
Read our in-depth travel industry report ➔
This quarterly report contains detailed background information about major industry trends.
- This poll was conducted by Morning Consult between September 21-22, 2022 among a sample of 2,210 Adults.
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Would you like to continue to open links from visa navigate in the default mail app or switch to microsoft outlook (if installed), global travel prospects: taking stock nearly two years into the pandemic, prior to the pandemic, the world was well on its way to reaching nearly 280 million households traveling cross border by 2025, with an expanding “traveling class” ushering in a new age of global travel. 1 two years into the pandemic, crossing that threshold now appears to belong to another age, with only 55 million households traveling internationally in the first nine months of 2021. however, according to our analysis of the visa international travel (visit) platform, 2 current trends in international travel suggest that getting back to pre-pandemic levels of travel could be closer than the aggregate numbers alone suggest., east meets west: key learnings from the rapid rise of mobile payments in mainland china, news & views, start-up stories: epicery - bridging the digital divide, subscribe to visa navigate.
Visa Sees Global Travel Recovery Powered by Seamless Digital Payments
If you’re looking for the same old bad news, don’t look at leisure travel, which appears to be the big recovery story of 2022, setting up a hopeful outlook for 2023.
Speaking with PYMNTS Karen Webster, Visa Global Senior Vice President, Merchant Sales and Acquiring, Jeni Mundy said there’s an “air of optimism” around leisure travel.
“If we look at last year, what we can tell you is that cross-border travel-related spend is 16 percentage points higher than it was when we look back into 2019,” she said.
Visa’s Special Report: Global Travel Insight Q3-2022 showed refreshing changes from inflation-induced consumer spending pullbacks that marked 2022, as it said in November that international arrivals in 2022 “are well on their way to reaching 850-900 million by the end of the year, accounting for 75-80 percent of the 2019 levels.”
Now it’s two months later and Mundy said, “we are already recovered from a spend perspective, even if we are not completely recovered in terms of the volume of people traveling.”
Visa is seeing more travelers spending more in the locales they visit, bucking inflationary trends of the past year as people saw value in experiences that had been largely off the table since 2020. Leisure is where most of the action is concentrated, with some interesting twists.
Mundy said, “What we did see is leisure travelers leading the way, so leisure recovering much faster than business. But also, those leisure travelers were spending more, not only on travel and staying for longer but spending more in retail as well.”
Attributing that to pent-up demand and the thrill of doing that which was forbidden for so long, she said there’s strong demand for travel experiences coming out of 2022 that has a chance at crossing into 2023.
Trendlines in Travel
While there’s a widely reported feeling that business travel may never return to 2019 levels after the world learned how to operate with video conferencing, Visa is tracking interesting trends where leisure and business travel overlap in curious new patterns.
Noting that travelers are not only spending more at their destinations but trying different places too, Mundy told Webster that “we are seeing leisure travelers traveling more to some of those business destinations,” and doing so tends to give the traveler more value for their dollar.
She said business destinations are recovering slower, however, the only upside of which is business destinations offering strong deals and enticing prices for leisure travelers.
Another intriguing effect comes from the untold hours of streaming TV we’ve all consumed since 2020, inspiring trips to destinations discovered through favorite shows.
“We’re keen to travel to the places we’ve been looking at,” she said, pointing to locations like the ancient city of Bath in England — also the setting of the Netflix series “ Bridgerton ” — with Mundy adding that “we’ve seen Bath recover as a travel destination a lot faster than perhaps some of the more traditional destinations.”
Tying much of this rising spend to seamless digital payments and the panoply of payments choice now available, Mundy sees the shift to digital payments as a prime driver in travel.
“Retail spend is definitely a key part of the travel experience, and being able to do that digitally,” she said.
A Cautious Optimism for 2023
A looming question for the travel market is the reopening of the Asia-Pacific (APAC) region, specifically China, which has long remained under COVID restrictions. That situation got a holiday gift when the Chinese government announced in December that it is lifting restrictions for incoming travelers who now need only show they tested negative 48 hours before arrival.
With that lifting of inbound traveler restrictions set to take effect on Jan. 8, Mundy remarked on the commercial potential of travel normalization to APAC and China.
“We have seen payment volumes at 16% above 2019,” she said. “Within that, we are seeing Asia at around 70% of 2019 levels, so still down from 2019. The mix is different. China is such a large economy, a large population, and a population that likes to travel, we do expect to see China opening having an impact, probably a significant impact, with Asia still being down.”
As China reopens, and with it more of the APAC region, the major threat is no longer seen as COVID infection but rather a possible global recession.
Asked if a full-on global recession will ground the travel recovery, Mundy said, “I’m not a forecaster. Let’s watch what happens through 2023.” However, she added that her conversations with travel suppliers are upbeat as the year begins, at least for leisure.
Mundy’s watchword for this year is “optimistic” and fueled by Visa data on how seamless, digitally enabled end-to-end payment experiences got consumers to book in 2022.
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Global Travel Trends Study 2023 report
Increasing costs and the threat of inflation have led to changing consumer travel attitudes. Personalized travel is gaining traction over all-inclusive holidays. Business trips are shorter with more train journeys instead of flights. Sustainable holidays are popular with holidaymakers willing to pay more for sustainable options. Download our report to learn more about 6 key global trends for 2023.
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Revolutionizes Travel: Streamlined Visa Process Welcomes Global Explorers
Ankara, Turkey, 26th April 2024, Today marks a momentous occasion as Turkey, the crossroads of civilizations, announces a groundbreaking initiative, extending a warm invitation to global citizens seeking to explore its rich tapestry of history, culture, and natural wonders. Through its newly streamlined visa application process, Turkey unveils an accessible gateway for adventurers from Bangladesh, Bhutan, Cambodia, Iraq, and South Africa, fostering a spirit of inclusivity and unity among nations.
In a world brimming with diverse cultures and vibrant landscapes, Turkey stands as a beacon of hospitality, beckoning travelers from far-flung corners of the globe to embark on an odyssey of discovery. With a commitment to facilitating seamless travel experiences, the Turkish government has revolutionized its visa application system, ensuring a hassle-free journey for visitors from Bangladesh, Bhutan, Cambodia, Iraq, and South Africa.
Turkey Visa for Bangladesh Citizens
Turkey Visa for Bhutan Citizens
Turkey Visa for Cambodia Citizens
Turkey Visa for Iraq Citizens
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As part of this landmark initiative, eligible citizens from these nations can now apply for their Turkey visa online, through a user-friendly platform designed to simplify the process. By leveraging cutting-edge technology and embracing digital innovation, Turkey empowers travelers to embark on their adventures with ease, eliminating bureaucratic hurdles and fostering a culture of accessibility.
“Turkey’s rich tapestry of history, breathtaking landscapes, and warm hospitality have long captivated the hearts of travelers from around the world,” remarked a spokesperson for the Ministry of Foreign Affairs. “With the launch of our streamlined visa application process, we are thrilled to extend a warm welcome to citizens of Bangladesh, Bhutan, Cambodia, Iraq, and South Africa, inviting them to immerse themselves in the wonders of our beloved country.”
This landmark announcement reaffirms Turkey’s commitment to fostering global connectivity, bridging cultures, and forging lasting bonds of friendship across borders. By embracing diversity and embracing the spirit of openness, Turkey paves the way for a new era of exploration and discovery, where every traveler is welcomed with open arms.
For more information about the Turkey visa application process for citizens of Bangladesh, Bhutan, Cambodia, Iraq, and South Africa, please visit Turkey Visa for Bangladesh Citizens, Turkey Visa for Bhutan Citizens, Turkey Visa for Cambodia Citizens, Turkey Visa for Iraq Citizens, and Turkey Visa for South African Citizens.
About Turkey Visa:
Turkey Visa is a leading online platform dedicated to simplifying the visa application process for travelers from around the world. With a commitment to efficiency, transparency, and customer satisfaction, Turkey Visa offers a seamless solution for obtaining visas to explore the wonders of Turkey. Through its intuitive online platform, travelers can apply for their visas with ease, enjoying a hassle-free experience from start to finish.
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Visa Global Travel Insight 2023 was the year of beach and business destinations, Visa estimates show Data from Visa and the Visa International Travel platform. provide fresh insights into international travel and where people went in 2023. The data suggest three key trends in global travel: 1
Special report: Global Travel Insight Q3-2022. Global travel nears full recovery. November 2022 - Global travelers have quickly moved on from the pandemic. International arrivals in 2022 are well on their way to reaching 850-900 million by the end of the year, accounting for 75-80 percent of the 2019 levels, according to the Visa ...
Special report: Global Travel Insight. China's reopening sets global travel on path to full recovery in 2023. March 2023 - Three years after the World Health Organization designated COVID-19 a global pandemic, a full recovery is finally in sight for the global travel and tourism industry—the earliest and hardest-hit sector of the economy.
Visa Business and Economic Insights. Global Travel Insight. Growth in single person households is reshaping global travel. The rise of single-person households is shifting the global consumer landscape, presenting a growing challenge for the travel industry. Single-person households are projected to grow 35 percent this decade to reach
Global Travel Insight. Visa Business and Economic Insights. 2023 was the year of beach and business destinations, Visa estimates show. ... transaction data shows that the share of Visa cards active in travel in 2023 was closer to 2019 shares for commercial rather than consumer cards. This broader basis for recovery has enabled business
November 2022 - An increase in visitors to Bath and North East Somerset—where a popular TV series was filmed—appears to have aided travel recovery to the region. The show was primarily filmed on location there and promoted the city as a key tourism destination. An analysis of data from the Visa International Travel (VISIT) platform* shows a trend in tourist arrivals to Bath and North ...
Sources: Visa Business and Economic Insights, Visa International Travel (VISIT) database. * VISIT is an econometric model that estimates travel flows between different corridors based on consumer card activity. Figure 1: Recovery in inbound travel to the U.K. (By city, indexed to 2019 levels) 0% 4% 8% 12% Q2-2020 Q3-2020 Q4-2020 Q1-2021 Q2-2021 ...
Both leisure and business travel have been on the rise according to Visa's Q3 2022 Global Travel Insight Report. Here are the top five trends I'm expecting to see for the travel industry this year. TRAVEL TREND 1. Travel is back. These days, the buzzword in most travel conversations is "momentum".
Prior to the pandemic, the world was well on its way to reaching nearly 280 million households traveling cross border by 2025, with an expanding "traveling class" ushering in a new age of global travel. 1 Two years into the pandemic, crossing that threshold now appears to belong to another age, with only 55 million households traveling internationally in the first nine months of 2021.
Global travelers have moved on from the pandemic. With each passing month of this year, the world has gotten closer to a full recovery, setting the stage for international visitor arrivals in 2023 ...
Learn more about the insights on global travel trends, consumer expectations, motivations and habits. Global Travel Trends for 2024, a Visa Latin America and the Caribbean perspective paper. With consumers facing hard budget decisions with prices increases at their fastest rate in decades, they are still putting travel as one of their priorities.
International tourists now account for more than 1 billion travel arrivals and $1 trillion in spending abroad 1. Over the next 10 years, the growth in travel spending is broadly expected to outpace the global economy. Visa Performance Solutions provides unique insights into this new and emerging world of travel.
The Visa Business and Economic Insights team analyzes real-time developments and data from around the world, helping financial institutions and merchants understand global economic trends in order to better manage and grow their business. To subscribe to our complimentary newsletters, please fill in your contact information and confirm your ...
Visa's Special Report: Global Travel Insight Q3-2022 showed refreshing changes from inflation-induced consumer spending pullbacks that marked 2022, as it said in November that international ...
Visa Business and Economic Insights. Visa Business and Economic Insights | March 2023. Global Travel Insight. China's reopening sets global travel on path to full recovery in 2023. Three years after the World Health Organization designated COVID19 a global - pandemic, a full recovery is finally in sight for the global travel and tourism
In their Global #travel insight, "2023 was the year of beach and business destinations, Visa estimates show," Visa economists break down top travel destinations by region and how the #tourism ...
Keep up with the latest travel trends. Smart business decisions rely on good insights. Keep your finger on the pulse of ever-changing global travel demand trends with actionable data, updated daily. Check out some top insights for your country below, or use the filters to find the data most relevant to you.
As economies continue to witness an increase in digitisation and technological transformation, the use of data insights to inform policy becomes critical to maintaining national competitiveness and driving progress for society. Visa provides governments with unique insights on spending and travel patterns to enable better decision-making ...
Are you ready to go right now…! Global Insight International Exchange …A once in a life time experience!!! We invite you to explore our cultural exchange programs in the United States and as an intern in Hospitality, Culinary Arts and Business in Europe, Asia, Middle East, Austrailia and the USA.
Global Travel Insight Global travel nears full recovery Global travelers have quickly moved on from the pandemic. International arrivals in 2022 are well on their way to reaching 850-900 million by the end of the year, accounting for 75-80 percent of the 2019 levels, according to the Visa International Travel (VISIT) platform. 1
What We Think. Global Travel Trends Study 2023 Report. Increasing costs and the threat of inflation have led to changing consumer travel attitudes. Personalized travel is gaining traction over all-inclusive holidays. Business trips are shorter with more train journeys instead of flights. Sustainable holidays are popular with holidaymakers ...
Global Visa Tracking Stay updated on your visa applications across the globe. And follow all other applications. Visa Insight Graphs Gain deeper insights into visa trends and processing timelines through visually intuitive graphs ... Simplify your global travel with Visalens - where visa tracking meets limitless horizons. English (US) English ...
A student who plans to travel outside the U.S. (including Canada and Mexico) must send his/her DS-2019 Form to the Global Insights office at least two weeks in advance of the trip, in order for the form to be signed, indicating he or she is in good standing on the program. This travel authorization signature is REQUIRED in order for the student ...
Analysts have said it would not be financially material to Visa and Mastercard. Visa's second-quarter adjusted profit per share of $2.51 beat LSEG estimates of $2.44. Its net revenue of $8.8 ...
New Delhi, India, 27th April 2024, In a landmark move, Visa-Indian, a leading facilitator in the realm of international travel, announces a significant expansion in visa accessibility, extending a warm embrace to citizens from diverse corners of the globe. This sweeping initiative aims to streamline the visa application process, fostering seamless journeys for travelers bound for the vibrant ...
Ankara, Turkey, 26th April 2024, Today marks a momentous occasion as Turkey, the crossroads of civilizations, announces a groundbreaking initiative, extending a warm invitation to global citizens seeking to explore its rich tapestry of history, culture, and natural wonders. Through its newly streamlined visa application process, Turkey unveils an accessible gateway for adventurers from ...