Since the pandemic, people have been eager to go on vacation. In 2022, more than 900 million people took some sort of international trip.
Revenge travel is only gaining more momentum, and you can expect it to continue in 2023. What should you know about it?
Here are three things that you need to know.
1. More Expensive Flights
Something that you should know is expect flights are more expensive than during the pandemic. You have to remember that there was very little demand back then. There were also very few options for reasonable flights due to travel restrictions.
Now, airlines have made up for it by charging an appropriate amount of money for the demand that flights are receiving. The average cost of a domestic flight in the United States has risen by $41 in the last two years.
However, something important to note is that this price decreased in 2023 compared to 2022. So, it is possible that we are starting to see the peak of revenge travel inflation for flight prices.
2. Sustainable Travel
Another thing that resulted from the pandemic was more focus on sustainability. While there are people who want to revenge travel, they tend to be more thoughtful about sustainability while doing it.
When you consider how much carbon emissions are taken up by flights and certain cars on the road, you could start to think about whether you should be doing more for the environment.
Right now, 69% of travelers are actively seeking sustainable travel options. What does this mean?
It means that travelers may avoid flying when they do not have to. They may decide to take public transportation instead of a car. Or, they may sacrifice traveling to further destinations to support sustainability.
Even if it means longer travel time, some people may find this worth it for sustainability reasons.
3. Fewer Restrictions
Finally, revenge travel in this day and age means there are fewer restrictions. People may have felt restricted during the pandemic because they may not have been able to leave their country. In some areas, you could not even use public spaces for a while.
There were also times when you could not go anywhere without a mask. Then, some countries initially required people to have certain vaccinations and to quarantine to cross their borders.
For the most part, you can toss all of this out the window now. Almost all travel restrictions have been eliminated in 2023, and people want to start booking trips to these destinations because of it.
Get Help With Revenge Travel
Whether you like it or not, revenge travel is likely coming your way if you have a rental vacation business. If you handle this the right way, you have a good opportunity to maximize your profits.
To do this, let PMI Northwoods help you. We take care of all vacation rental property management needs in the Wisconsin area.
We have state-of-the-art technology to keep an eye on your property's performance and our franchise has more than 30 years of experience in property management. Message us here to learn more.
