A new study by GlobalData has revealed that many people are keen to spend even more when they head abroad after the current health crisis as they have been able to save money during this time.
Around 13 per cent of people said they were "not concerned" about their finances despite the pandemic and it is believed these people could really help boost the travel economy in the future.
Ralph Hollister, Travel and Tourism Analyst at GlobalData, shared: "Many of the travellers that make up this 13% are likely to be white-collar workers that can work effectively at home. Due to spending the vast majority of their time being confined to their homes in the past year, the urge to travel would have built up. This urge, combined with a significant increase in savings, could mean that many of these travellers will have developed a ‘treat yourself’ mentality, to combat the impact of the pandemic which has increased boredom and frustration for many.
"This mentality could be present as these consumers start planning their next holiday, which could result in them spending more on room upgrades, business class flights and higher quality rental vehicles. As well as saving money on commuting, eating out and on other recreational activities, many of these consumers who have been unaffected by the pandemic have also saved by not booking a holiday last year, or by having their cancelled trip refunded.
"This could mean that for their next trip, they will go bigger and better on more luxurious travel services and products. This trend could also be driven by a ‘now or never’ mentality, as when travellers have the opportunity to go on holiday, they will spend significantly more and stay for longer in case another situation like the COVID-19 pandemic reoccurs."