Are staycations still popular 2023?

An international study by tourism and hospitality experts in the U.S. and China has determined the “staycation phenomenon,” which reached prominence during the COVID-19 pandemic, is still going strong and is most likely here to stay as part of a new industry normal.



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Staycations and local tourism will continue to rise In 2023, we expect to see more hotels and resorts offering staycation packages and promoting local tourism. This trend is not only beneficial for hotels, but it also supports local economies and encourages guests to explore their backyards.

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An international study by tourism and hospitality experts in the U.S. and China has determined the “staycation phenomenon,” which reached prominence during the COVID-19 pandemic, is still going strong and is most likely here to stay as part of a new industry normal.

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As per the latest findings of Future Market Insights, global staycation market revenue is expected to be US$ 363.6 Million by the end of 2023. In the long-term, the staycation market is estimated to reach at around US$ 758.1 Million in 2033.

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CBRE's revised forecast projects 2023 RevPAR will be up 4.6 percent year over year to $96.64, which is down $1.25 from its previous forecast, issued in May. CBRE's softened RevPAR projections are partially attributed to decreased occupancy expectations and a decline in demand, according to the company.

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You may not get the full vacation experience If you're looking for a true vacation experience, a staycation might not be right for you. This is because you won't be able to explore new places or cultures, and you may not get the chance to truly relax.

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If you just need to get away from it all but don't have the funds or vacation time to take a big family vacation, consider a staycation instead. Sometimes it feels even more luxurious to just languish in your own home, avoiding your responsibilities, foregoing pants, and spending your time however you dang well please.

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It can be easy to take your most important relationships in life for granted amidst work and life tensions. A staycation gives you an opportunity to reconnect and rediscover. For example, you could spend a few days with your parents, reliving your younger days. You could go on a local hiking trip with your sibling.

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The percentage of Americans traveling for one or more summer holiday weekends has increased from 67% in 2022 to 80% in 2023, with 54% of travelers going somewhere for the Fourth of July holiday weekend, 49% going somewhere for Memorial Day, and 41% traveling for Labor Day weekend.

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49% of Americans Plan To Travel More in 2023 This is impressive considering 45% of respondents traveled once or twice in 2022, with 42% traveling three or more times in 2022. All types of trips remain popular for the coming year, though visiting with friends and family leads the list.

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We've upgraded our 2023 inbound tourism forecast. Visits overall to the UK this year are now forecast to be 37.5 million, 92% of 2019 levels and inbound visitor spending £30.9 billion, up 9%. See the statement from our CEO Patricia Yates below and the full revised forecast here.

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Three years later, the world is adjusting again. While tech companies shed jobs in response to the state of the economy in 2023, the hospitality industry is now ready to hire in response to the expected increase in travel. One of the sectors that had the biggest job growth in December 2022 was travel and leisure.

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If you thought 2022 was an expensive year to travel, get ready to spend even more in 2023. New data from travel site Hopper shows that U.S. hotel prices averaged $212 per night in January — that's 54% higher than the same month in 2022. Planning on taking a trip soon?

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