Trends in the Family Market Recap

Here are just a few key highlights from the full discussion, which is available to view on the FTA Info Hub:

• In the 2023 Annual US Family Travel Survey, 81% of parents expressed intent to travel in the next 12 months, historically a very strong level of interest.
• Families plan to either maintain or increase level of spending in the next 12 months, reflecting an interest in return to full-fledged travel.
• The headline would be “returning to normal.” Families are discussing travel largely in a similar fashion to pre-pandemic.
• Families recognize the importance of travel, with 88% of respondents saying travel has been helpful to their children overcoming lingering impacts of the pandemic.
• However, families are carrying forward is a strong focus on sanitation and hygiene, along with a heightened sense of the fine print – cancellation policies, refund policies, travel insurance, etc.
• The willingness to engage travel agents has jumped significantly this year, reaching 70% among both parents and grandparents, especially as groups seek more personalized experiences and hidden gem destinations.
• Travelers also want more personalized experiences, especially as the travel rebound crowds popular destinations. Advisors can capitalize on this by steering toward hidden gems.
• Airports and hotels need to fight for families again, with accommodations like adjoining rooms, having quiet spaces, activities for kids, etc.
• Europe is seeing a lot of interest again, but people are starting to look beyond the first-thought destinations like London and Paris to places like Croatia and Portugal.
• All-inclusives are on the rise as parents appreciate knowing the exact cost of their trip before departing, especially as prices rise across the board.