Travel remains the highest priority discretionary category. Travelers value currency transparency with moderation in demand for short-term credit.
Travel Trends report also reveals annual growth in spend and volume for domestic and international air travel as well as hotel reservations
In Q4 2022, business travelers averaged 4.13 nights per hotel stay. This reflects a 55% increase in trip length over the same quarter in 2021. Compared to Q4 2019, however, it shows an 8% decrease in trip length. The number of hotel reservations is up 89% over Q4 2021 but still 45% lower than in 2019.
Businesses spent more on domestic flights, international flights, car rentals, and hotel reservations in Q3 2022 than in the same quarter in 2021.
Sensibill analyzes everyday consumer spending trends related to travel during the pandemic