Tourism is escalating rapidly across the globe, with 235 million tourists traveling internationally in the first quarter of 2023. That's more than double the amount of travel recorded at the beginning of 2022.
At this rate, forecasters predict that travel statistics should reach 95% of pre-pandemic levels by the end of the year. That's a remarkable recovery, considering the economic factors at play around the world today, like increased fuel prices and fears of a looming recession.
Travel experts suspect that revenge travel is the reason behind this rapid increase in tourist numbers. Keep reading to find out more about this phenomenon sweeping the world today.
What Is Revenge Travel?
During 2020, touristic activities decreased by 80% worldwide. Some smaller countries earned no income from travel during these trying times.
With so many trips canceled or postponed, it's only natural that people who've been stuck at home for most of 2020 and 2021 feel the urge to make up for lost time.
Even after vaccines became widely available and restrictions eased, fears of becoming ill still kept people at home. Toward the end of 2022, all that changed.
As the pandemic and worldwide lockdowns became a thing of the past, the tourism industry picked itself up and dusted itself off, ready to rebuild. Travelers responded with overwhelming enthusiasm.
The term 'revenge travel' came about as a way to describe this sudden upswing in travel after the pandemic.
The Many Faces of Revenge Travel
At first, tourists limited their travels to exploring sought-after destinations in their own countries. Yet they soon took a renewed interest in spreading their wings further afield.
One reason behind these travel trends is a sense of hitting back against the injustice of lost vacations.
For instance, those who missed out on a week-long vacation due to travel bans felt cheated. Their response was to book two weeks instead of one as soon as they could.
It is this aspect that resulted in the phrase 'revenge travel', but there's also a more positive way to look at this behavior.
An important lesson learned during the pandemic is that you can't take vacations for granted. Sudden and widespread travel bans in 2020 proved that there are no guarantees.
In this sense, the pandemic created an urgency to travel sooner rather than later as people realized that even the best-laid plans aren't a certainty.
Another impact of revenge travel is a new tendency for travelers to splurge more on their vacations. After all, you only live once, right?
Exotic destinations, plush retreats, luxury cruises, high-end safaris, and thrilling once-in-a-lifetime adventures are all the rage amongst revenge travelers.
Enjoy the Benefits of Revenge Travel
The rise of revenge travel has been the savior of the tourism industry across the globe. It's also brought in billions of dollars in revenue.
If you own a second home in a prime tourist area, you, too, could benefit from the rise of revenge travel in 2023.
Are you unsure about how to get started? Get in touch, and we'll help you transform your second property into a lucrative short-term rental home.