Clockwise from top left: Johanna Jainchill and Rebecca Tobin of Travel Weekly, Angela Hughes, owner of Trips and Ships Travel and Anna Zhou, an economist at Bank of America Institute.
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Inflation, a looming recession, the Ukraine war -- and yet, Americans' appetite for travel just seems to stay strong. After the release of research from Mastercard and Bank of America, we started to ponder: when does the pandemic-era pent-up demand for travel end? The answer, as we found, was complicated.
On this episode we've invited Bank of America Institute economist Anna Zhou and travel advisor Angela Hughes, the owner of Trips and Ships Luxury Travel in Winter Garden, Fla., to join host Rebecca Tobin and news editor Johanna Jainchill. We discuss the big picture, travel vs. retail spending, the job market and whether high prices are finally starting to deter travelers. Are Covid-era terms like "pent-up demand" and "revenge travel" still relevant? Is there a pent-up demand after the pent-up demand? And is demand for travel finally starting to moderate?
This episode was recorded May 25 and has been edited for length and clarity.
Episode sponsor:
This episode is sponsored by Windstar Cruises
This episode contains a bonus interview at the end of this episode with sponsor Windstar Cruises and Northstar Travel Group's executive vice president of marketing, Mary Pat Sullivan.
Related links:
Is pent-up travel demand at an end? It depends
There are cracks in the economy, but the hotel industry just keeps rolling
War + inflation + airline meltdowns = record demand
Bank of America's travel spending report, May 2023
Mastercard's Travel Industry Trends 2023