Due to pent-up demand for travel, consumers–particularly Gen Zers and millennials–have big plans to travel this year and are prioritizing trips and experiences over purchasing luxury items. According to American Express Travel’s 2023 Global Travel Trends Report, 79% of Gen-Z and Millennial respondents agree that they see leisure travel as an important budget priority and 84% would rather take a dream vacation than purchase a new luxury item.
The question isn’t will people be traveling this summer, but where will they find inspiration on where to go and how their passions will influence what they do when they get there. As President of American Express Travel, these are the questions that excite me as we continue to innovate our programs, benefits, and services to meet younger consumers’ evolving travel needs.
