Travelers keeping travel plans despite forecasts of a declining economy

Despite forecasts of a declining economy and potential slide into a full-blown recession, travelers remain steadfast on keeping their domestic and international trip plans in place.

According to Global Rescue Spring 2023Travelers Sentiment and Safety Survey of the world’s most experienced travelers, more than 76 percent said that predictions of a recession have not caused them to cancel or postpone international travel in 2023. Only four percent reported that expectations of an economic recession compelled them to call off or reschedule an upcoming trip abroad.

Travelers are skirting economic projections from financial professionals signaling the U.S. economy is headed for a recession. According to Dan Richards, CEO of The Global Rescue Companies, a leading provider of medical, security, evacuation and travel risk management services, and member of the U.S. Travel and Tourism Advisory Board at the U.S. Department of Commerce “Whether travelers disbelieve an economic slowdown is looming or adopted a post-pandemic determination to travel while they can, they are brushing aside recession hesitation and keeping their plans to travel internationally.”

Adventure trips (35%) are the leading kind of travel respondents are planning for 2023, followed by fishing trips (29%), beach getaways (27%) and hiking excursions (24%). Two-thirds of the survey respondents revealed they plan to travel to destinations where they have never been. Africa led all destinations, followed by Italy, Alaska, Spain and Iceland.

Most plan to travel as a couple (45%) while 26 percent say they will journey with family or a group of friends. Solo travelers comprise 23 percent of those making an international trip.

Traveler concerns about trip disruption continue to shift away from pandemic-related worries. Having an injury or illness (47%) is the overwhelming fear among respondents followed distantly by civil unrest (13%), trip cancellation (11%), and losing important things like a passport, wallet or purse (9%).

Richards added that “Since the pandemic, the travel landscape has shifted. Whether you’re taking a trip alone or with others obtaining additional precautions – like emergency medical and security evacuation protection – are essential.”