The travel industry is showing strong signs of not just recovery, but even of a surprising resurgence. By the end of 2021, consumers were searching for and planning trips with longer lead times in more distant destinations¹, demonstrating an increase in interest and travel bookings.
In the first few months of 2022, short-term rentals increased more than at any other point since March 2020. These trends are only expected to continue beyond the end of 2022; the value of the global travel industry is expected to reach $5,297.78 billion by 2025.²
But that resurgence is unfolding against an entirely new landscape of traveler behavior. Popular and top-of-mind issues like sustainability, health, and wellness are guiding many consumers’ travel decisions.³ Mobile usage skyrocketed during the pandemic and has since settled at increasingly high rates.4 The popularity of streaming services is surpassing that of traditional linear TV as more consumers cut the cord.5
All of these new behaviors indicate a changing reality for travel advertisers, who must now contend with a fragmented landscape, an onslaught of new ad formats, and evolving consumer expectations to stay relevant.
In this report, Skift and Amazon Ads use recent research and exclusive interviews with industry leaders to explore the opportunities and challenges emerging in this shifting advertising landscape. The report provides valuable insights and best practices to help travel advertisers activate new audiences through non-traditional ad channels, including mobile, streaming TV, and audio.
Understanding changing consumer habits, evolving technologies, and expanding advertising opportunities will allow travel brands to make the most of the industry’s upswing while successfully engaging today’s modern travelers.
Sources
1) Kantar and Amazon Ads Quickfire Holiday Survey, US, 2021
2) “Global Hospitality Market Report 2021: Market is Expected to Reach $5297.78 Billion in 2025 – Forecast to 2030, Research and Markets,” Global, June 2021
3) “Travel’s Theme for 2022? ‘Go Big’,” The New York Times, US, Feb 2022
4) “Nearly a third of all US media time will be on mobile this year,” eMarketer, US, June 2021
5) Streaming surpasses cable as top way to consume TV,” Axios, US, Aug 2022
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