Subjects: Product/Service, Economic News/Analysis

?Tis the Season: Chase Travel Reveals 2023 Holiday Travel Trends, Tips, and Predictions for 2024 Travel

Today, Chase Travel, a travel industry leader and business unit of JPMorgan Chase & Co., is providing an early glimpse into the top growing holiday destinations this year based off Chase Travel proprietary booking data. FROSCH and Valerie Wilson Travel, part of the Chase Travel Group, also tapped their expert Travel Advisors to share their top holiday travel tips and 2024 travel predictions.

Chase Travel data show travelers are booking 2023 holiday travel slightly earlier than 2022 for both domestic and international destinations¹: on average, customers are booking travel 5 days earlier for domestic trips and 8 days earlier for international trips. While the holiday season is fast approaching, it's never too late for travelers to check out Chase Travel's exclusive thematic collections for a curated selection of world-class hotels to get inspired for their next trip.

Chase Travel's 2023 Holiday Hot Spots¹: While cities in China (Beijing, Guangzhou, Shanghai) and Japan (Kyoto, Osaka, Tokyo) showed the strongest year-over-year holiday season growth after being closed to travelers last year, Chase travelers also drove high bookings to a number of unique, buzzing global cities and island escapes.

The top growing holiday destinations by year-over-year (YoY) growth based off proprietary Chase Travel booking data (excluding those locations closed to travelers late 2022 and in 2023) are:

• International Adventures - Whether propelled by new flight routes or by travelers' growing interest in finding destinations that offer nature-based adventures ? like Patagonia ? the following destinations rose to the top of Chase Travel's growing holiday travel list:
  • Christchurch, New Zealand (224% YoY growth)
  • El Calafate, Argentina (132% YoY growth)
  • Chiang Mai, Thailand (104% YoY growth)
  • Vienna, Austria (72% YoY growth)
  • Rio de Janeiro, Brazil (63% YoY growth)
• Beachfront Getaways - Travelers also continue to flock to warm-weather destinations known for their beaches and vibrant cultures:
  • Noord, Aruba (105% YoY growth)
  • Miami Beach, Florida (80% YoY growth)
  • Roatan, Honduras (76% YoY growth)
  • West Palm Beach, Florida (57% YoY growth)
  • Playa del Carmen, Mexico (53% YoY growth)

Points Redeemed for 2023 Holiday Travel: After a year of building up points, the gift of travel is the perfect way to treat yourself (or a loved one!).

• High point redemption for fall and holiday travel by state²: States with highest value of travel sales where customers used one or more points for booking air/lodging/car rental for fall or winter travel (Oct'23 ? Jan'24):
  • California: $199.1 million
  • New York: $113.2 million
  • Florida: $77.8 million
  • Texas: $64.1 million
  • Illinois: $49.8 million
• Cities with the largest point redemption growth³: U.S. cities with highest year-over-year (YoY) growth in point redemption for air travel:
  • Houston: 30% YoY growth
  • Jackson, Wyoming: 23% YoY growth
  • Seattle: 15% YoY growth
  • Boston: 15% YoY growth
  • Washington D.C.: 15% YoY growth
• Popular holiday destinations where Chase customers used points for booking travel¹:
  • Vail, Colorado
  • Antigua, Antigua and Barbuda
  • Palm Springs, California
  • San Jose Cabo, Mexico
  • Calgary, Canada

Holiday Travel Tips: This holiday season, Travel Advisors from FROSCH and Valerie Wilson Travel, part of the Chase Travel Group, are helping travelers make the most of their travels with helpful, seasonal tips:

• Avoid busiest airport days¹: Looking at flights booked for travel in December 2023 and January 2024, the busiest airport dates in Chase Travel air booking data are 12/23, 12/22 and 12/30.
• Earn points for holiday travel: Eligible Chase cardmembers can earn 5k bonus points for booking a flight and hotel through Chase Travel. Cardmembers can check eligibility and enroll at chase.com/mybonus/travel. Activate, book, and stay by 1/31/24 to get rewarded.
• Get ahead and give the gift of travel: With Travel Advisors already booking 2024 travel plans, it is never too early to start booking 2024 travels and surprise a loved one with a trip.
• Make the most of your rewards: Chase cardmembers can earn and redeem points when booking hotels, flights, cruises and more through chasetravel.com.
• Find flexible payment plans: Between tickets, hotels and flights, travel costs can add up quickly. My Chase Plan allows for cardmembers to split up large purchases into smaller payments with no interest, just a fixed monthly fee.

Chase Travel 2024 Predictions: Looking ahead, FROSCH and Valerie Wilson Travel Advisors anticipate the following trends to shape 2024 travel:

• Summer splurges: Travel Advisors are already booking 2024 summer travel plans, which points to an expected busy summer travel season.
• Priority around luxury escapes: As secluded, lesser-known retreats are becoming a priority for luxury travelers, Travel Advisors are seeing an increased interest in amenities like private villas from premium travelers and expect this trend to grow.
• Experience travel: Whether it's the total solar eclipse coming to Mexico, the U.S. and Canada or the Summer Olympics in Paris, travelers are seeking out unique experiences to help inspire their 2024 trips.
• Multi-gen family travel: Travel Advisors are seeing family travel of all shapes and forms continuing to grow ? whether it is an increase in multi-generational cruise travel or parents and adult children traveling together, family travel time is expected to continue to become a focus for 2024.
• Niche cruise tours: From exploring remote destinations like Antarctica through expedition cruises to navigating small ports with unforgettable river cruises, travelers are pursuing journeys at sea as they look toward the new year.
• Nimble travel plans: As the travel landscape fluctuates due to surrounding global circumstances, travelers are leaning more on their Travel Advisors to help them navigate future travels and learn how to stay nimble in ever-evolving situations.

Methodology
¹Holiday season data based on Chase Travel bookings for air/lodging between 11/17/2023-1/7/2024
²These figures are based on Chase Travel bookings for air/lodging/car rental between 10/1/2023 and 1/7/2024
³These figures are based on Chase Travel bookings for air data comparing Summer 2022 and 2023

ABOUT CHASE

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.9 trillion and operations worldwide. Chase serves nearly 80 million consumers and nearly 6 million small businesses, with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone. For more information, go to chase.com

News published on 30 october 2023 at 09:05 and distributed by: