Social media continue cementing itself as a crucial part of planning a vacation, with millions of GenZ-ers and Millennials using them to find inspiration for their next travel.
According to data presented by OnlyAccounts.io, more than 75% of travelers find the inspiration for their next travel on social media platforms.
Social Media More Influential for Traveling than Word-of-Mouth Recommendations
The number of social media users worldwide has swelled to an impressive 4.9 billion people in 2023, and two-thirds of this huge user base uses social media channels to research brands and get recommendations. So, it’s no surprise that social media remains the top spot for the next generation of travelers when finding travel destinations.
According to the 2023 Global Travel Trends Report, more than 75% of respondents have been inspired by social media to travel to a specific destination, significantly more than in any other way.
Word-of-mouth recommendations remained strong across all age groups but still had a much smaller 47% share among respondents. Roughly 65% of respondents said they had been inspired to travel to a destination after seeing it featured in a movie, on a TV show, or in the news.
The Global Travel Trends report revealed other interesting facts about the new generation of travelers’ behavior. More than 60% of them have chosen a destination because it looks good in photos, and nearly half of all respondents said they wanted to travel to a place they can show off on social media.
Also, nearly 80% of GenZ-ers and Millennials would love partaking in a day in the life of locals in the destination they are visiting, and half of them plan an entire trip around going to a specific restaurant and trying local food and cuisine.
Travelers and Tourists to Spend $854B in 2023, $120B more than Last Year
Although inflation continues rising prices in many tourist destinations, 2023 is set to witness a record number of people traveling for a vacation. According to a Statista survey, more than 1.86 billion people will spend money on package holidays, hotels, private vacation rentals, camping, and cruises this year, 200 million more than in 2022, pushing the total travel and tourism industry revenue to new highs.
Statista expects travelers and tourists to spend over $854bn in 2023, or $120bn more than last year, showing the entire market has fully recovered and outgrown pre-COVID-19 levels.
Hotels, as the market’s largest segment, will generate almost half of that value, or roughly $408bn. Package holidays will bring another $280bn. Vacation rentals and camping follow, with $96.8bn and $43.8bn in revenue, respectively. By 2027, travel and tourism are set to become a one-trillion dollars industry.
