The Rise and Fall of Revenge Travel: What Comes Next?
New data suggests that the trend of "revenge travel" may be coming to an end, as travel intentions are flatlining or falling in several countries, particularly in Europe. Inflation and rising travel costs have caused travelers to curtail their plans, with intentions to travel dropping in France, Germany, Canada, and Russia. A report by Oxford Economics also predicts that short-haul revenge travel in the Asia-Pacific region is likely to fade, as the initial surge of pent-up demand settles down. The longer-term effects of tightening monetary policies and economic uncertainties may lead to a slowdown in travel. Chinese consumers, in particular, are losing interest in international trips due to high unemployment, negative wealth effects, and weak wage growth. While outbound travel from China is expected to continue growing, it may not be enough to compensate for the loss of travelers from other regions.