The 3 cheapest destinations for travelers: Skyscanner

While consumers are grappling with tighter budgets in the current inflationary environment, overall travel demand remains resilient. To provide deeper insights into travel savings trends, Laura Lindsay, global travel trends expert at Skyscanner, joins Wealth!

In response to this price-conscious behavior, Lindsay highlights several destinations that attract budget travelers, including Croatia, Southeast Asia and Nassau in the Bahamas. Despite the price consciousness, she notes that people continue to prioritize experiences, saying, “We’ve seen a huge increase in what we would call luxury for less, with people looking for 5-star accommodations at prices that would cost 3 or 4 stars elsewhere.”

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This article was written by Angel Smith

Video transcript

When we think about people’s travel destinations, what do you see in Skyscanner’s data?

What’s currently popular and what’s missing.

The good news is that I can tell you some of the most affordable travel destinations.

So we have seen price drops in very popular locations like Croatia.

In Split and Dubrovnik, prices fell by 24% and 22% respectively for return flights.

Um, from the US, this is great news for anyone thinking about European summer.

But we also see that near us, for example in Nassau in the Bahamas, there is also a price drop of 23%.

We may have heard about rising prices in the past, and after the pandemic, inventories have returned and travel continues to normalize.

We are seeing price drops on many routes.

You know it.

It is particularly interesting.

When I spoke with Delta’s CEO at Bastian, we discussed the most recent quarter’s results.

It also comes back to where there is still strength even among the more affluent consumers and where they are prioritizing spending. Where are you seeing even more spending on the travel experience, where are there add-ons or even just ancillary purchases that people are willing to make if they feel it adds value to their travel experience?

Overall, you’re absolutely right that people are really investing in this experience right now.

For example, they are considering whether they want to upgrade their flight or spend a little more money on accommodation.

For example, we’ve seen a huge increase in what we would call ‘luxury for less’ – where people are looking for locations where they can get five-star accommodation at prices that might be three or four stars elsewhere.

The story goes on

And we’re seeing, for example, that locations in Southeast Asia where you can find luxurious stays that really allow you to take a break from everyday life are becoming increasingly popular.

You are absolutely right