2023 to be the year of the savvy traveler as economic uncertainties force people to become thriftier

• The coming new year 2023 is likely to be the year of the savvy traveler, according to a new survey.
• Three out of four Indians continue to prioritize their vacations, but they want to get the best value for their money.
• The survey also states that millennials are more spontaneous and reveals people tend to start planning in advance as they get older.

The coming new year 2023 is likely to be the year of the savvy traveler, according to a survey that says that people will be thriftier with their vacations as economic uncertainties cast a shadow on the country’s travel and tourism industry.

According to a survey by Booking.com, one of the largest travel agencies in the world, while three out of four Indians continue to prioritize their vacations, they want to get the best value for their money, with 69% of the surveyed people saying that they will be “even thriftier than in the past” while traveling in the year 2023.
Thrifting is in, splurging is out
According to the survey, smart traveling is on the top of the minds of travelers in 2023, while 69% of Indians consider themselves to be frugal and thrifty already, 71% plan on making the best out of the deals and discounts available along with making better-timed travel plans.

The tightening purse strings suggest that while travelers are still planning on going for vacations, they are also concerned about the economic concerns in the future. For context, the Indian economy’s GDP forecasts have been cut recently by various global rating agencies and the Reserve Bank of India (RBI). This, along with the concerns of a resurgence in Covid, could result in a return of economic issues seen in 2020 and 2021.

One of the ways to thrift better is to plan midweek getaways – not only are the prices lower during this time, but the crowds are also on the lower side so travelers can end up not only saving money but also having a more peaceful time.
Millennials are more spontaneous, and boomers plan in advance
The survey also throws up another interesting fact that millennials are more spontaneous, and people tend to start planning in advance as they get older.

According to the survey, one in two millennials is likely to make last-minute travel plans. On the other hand, Gen X – those born between 1965-81, and their parents, the boomer generation, are more likely to plan well in advance to get the best travel deals available in the market.

While 60% of Gen X travelers believe in planning, the boomer generation stands at 54% in this part.

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