'Revenge travel' extends into fall

What used to be shoulder season appears to be heading towards a more entrenched travel period, at least for now. It will be interesting to see if the trend holds as the pandemic becomes more of a distant memory and the pent-up demand we're seeing gains more relief valves in the coming years. I also suspect that with the looming global recession, the flexibility many office workers have become accustomed to may very well be pulled back under the guise of "productivity" or something similarly spurious like "creative combustion." That kind of move would put a big dent into bleisure and "work from anywhere" trips. #work #travel #productivity

Well-off wanderlusters have helped create a travel-industry boom, with pent-up demand pushing bucket-list travel into this year's shoulder seasons. The most spendy of globetrotters are going all out —?perhaps even more than usual?— to ensure an unforgettable holiday. My look at luxury travel this fall for Business Insider.

What used to be shoulder season appears to be heading towards a more entrenched travel period, at least for now. It will be interesting to see if the trend holds as the pandemic becomes more of a distant memory and the pent-up demand we're seeing gains more relief valves in the coming years. I also suspect that with the looming global recession, the flexibility many office workers have become accustomed to may very well be pulled back under the guise of "productivity" or something similarly spurious like "creative combustion." That kind of move would put a big dent into bleisure and "work from anywhere" trips. #work #travel #productivity

What used to be shoulder season appears to be heading towards a more entrenched travel period, at least for now. It will be interesting to see if the trend holds as the pandemic becomes more of a distant memory and the pent-up demand we're seeing gains more relief valves in the coming years. I also suspect that with the looming global recession, the flexibility many office workers have become accustomed to may very well be pulled back under the guise of "productivity" or something similarly spurious like "creative combustion." That kind of move would put a big dent into bleisure and "work from anywhere" trips. #work #travel #productivity

Wage growth is 5.8% and inflation is 8.1% (annualized). If #wages are growing slower than #inflation , shouldn't we expect the squeeze in household budgets to reduce #spending ? ...and if consumer demand is down shouldn't we expect that to lower the inflation rate? YES! All else being equal, if the only variable is wage growth rate, and if wages are growing at a notably lower rate than inflation, we could expect that to put downward pressure on prices. But the financial system is very complex. Right now we are seeing people spend even if they have to pull from savings to do so. And I get it! After the #covid lockdown, our family has been rebound traveling ?? this year. Prices are up on hotels ?? --we grimace and pay. Prices are up on flights?? --we grimace and pay. Prices are up on concert tickets ????, restaurants ??, sporting events ??♀?, theater ?? --we grimace and pay. As we feel like we've all missed out on so much during Covid, we're trying to make up for lost time. And that's what people are doing right now. Many households are drawing down on savings to fund current expenses. Matter of fact, #consumers have pulled $0.91 trillion out of savings to keep spending as prices rise so that they don't miss out on what's important to them? They can afford to spend because they saved $2.01 trillion over and above trend line savings rate during the #pandemic ? The surplus savings came from spending less during the pandemic (because when stuck at home ?? there wasn't as much to do), and all the Covid related stimulus! Since households still have $1.1 trillion excess savings available ?? , it may be a while before people rein in their budgets. And if people keep on spending ???, we'll likely see a stubbornly high inflation rate that is slow to fall. Yes, I do believe inflation will come down--but it may take a lot longer time to get back to the Fed's 2% target rate than many of us would like to believe. #economy #markets #stockmarket Source: JP Morgan Guide to the Markets (10/21) ---------------------- I discuss inflation, the economy, and the stock market at my Market Update Webinar. https://hubs.li/Q01qPm9s0

Travel demand is not backing down! According to TripAdvisor's?2022 Fall Travel Index—based on the platform’s first-party search data, combined with propriety consumer sentiment data—61 percent of U.S. respondents are planning trips this autumn and two-thirds (66 percent) plan to spend more on it than they did in the same period last year Our goal is to put the world on vacation. To learn more please visit: https://lnkd.in/dgq-4bX4 #travel #wyndhamdestinations #sales #vacationtime #creatingmemories #salescareer Jeannie Acevedo Jayson Rosa Kenza Alami BlumenhagenEdwin De JesusMarlon Martinez EscamillaSaadya Rivera #planning Michelle St CyrAli GoodwinDavid CohnLeAnn Mason-Smith

Take a message...I'm busy being consumer-centric. Sluggish economy or not, the consumer is the engine that could and continues to chug along despite soaring inflation. From economists to investment gurus, everyone has recession on their minds, but consumer behavior isn't sticking to the script. If anything, consumer spending is actually up 21% from last year driven by travel and entertainment. "We live in interesting times" has become a redundant but necessary phrase. Banks certainly aren't seeing the slowdown as people continue to spend freely. It's gotten to the point that some analysts believe that retailers may have a good holiday shopping season even with the inflation Grinch in the building. This brings up a yet another interesting (there's that word again) issue. At what point does all this doom-and-gloom talk around inflation and recession turn into a self-fulfilling prophecy? The dynamics of the economy have changed and perhaps we need to change our approach. We're seeing it first hand with the Fed's ineffective, old school strategy of jacking up interest rates quarter after quarter after quarter having little effect on inflation let alone on consumer spending. A reasonable argument can even be made that many of the company layoffs happening now are a result of a self-fulfilling prophecy more than anything else. Regardless, consumers have shown resiliency in keeping the economy not only afloat but steaming ahead https://cnb.cx/3z1lMLa #consumers #economy #inflation #consumerbehavior #interestrates #travel

With leisure travel bouncing back faster than business trips, hotels are tweaking their programming and amenities to cater for travelers looking for the best of both worlds. Though business travel is projected to fully recover within a few years, experts predict it will be more difficult to precisely track demand by consumer segment.