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Sonoma County Economic Impact of Travel, Dean Runyan Associates
In 2023, travelers to Sonoma County spent $2.113 billion, marking a 0.8% dip from the prior year. Following a strong boost in visitor spending in 2022, post-pandemic growth in travel to Sonoma County flattened in 2023. Despite this dip in visitation, employment in the travel industry grew by 3.7% in 2023. As employment responds in a lagged manner to spending, this increase in jobs is attributable to the rapid spending growth of 2021 and 2022. Tax receipts generated by travel spending decreased to $216.5 million, a drop of 1.2% compared to 2022. Visitor spending in the arts, entertainment and recreation segment increased by 4.2% over 2022 levels, and in the accommodations segment, campground visitor spending increased by 6.1% over last year, demonstrating increasing interest in outdoor travel and recreation.
As multigenerational travel increases, so do the benefits for all ages, TravelAge West
Multigenerational travel has been on the rise, especially post-pandemic. Over half of parents surveyed in the latest Family Travel Association (FTA) survey of 3,300 parents indicate that they are planning trips involving grandparents and children, contributing to significant market growth. While beach vacations are popular, resorts offer diverse activities like spas, cultural tours, and family-friendly entertainment. Affordability is a concern, with families increasingly mindful of rising travel costs, although all-inclusive options can provide value and ease budgeting concerns. Sharing trip costs between generations is common, with grandparents often contributing or splitting expenses with their children.
Elevated experiences: trends in luxury travel and experiences, Forbes
The global luxury travel market is valued at $1.5 trillion and continues to grow post-pandemic. Wealthy travelers are discerning, and seek diverse experiences, trendsetting, and larger accommodations. Authentic experiences, family-led hotels, and unique destination relationships are valued. Cross-brand alliances offer unique journeys for travelers, some tied with charitable initiatives amplify the overall meaning of the travel experience. Slow travel experiences are gaining popularity with immersive and wellness experiences leading the way. Emphasizing sustainable practices to the luxury traveler is important, including safeguarding cultural heritage experiences, and offering hyper-personalized experiences defined by individual preferences, exploration, and knowledgeable guides.
Travel marketing trends defining 2024, Kortx Digital Marketing
In 2023, travel advertisers rebounded with post-pandemic vigor, boosting ad spending by 15% in 2023 over the previous year. Due to the rising concerns of user privacy and phasing out of third-party cookies, marketers are turning to first- and second-party data, contextual marketing (serving content based on what users currently view), and cross-device audience targeting. Collaboration with sports tourism events is booming, driven by major events and increased participation in women’s sports. Video content on Instagram and influencer content on TikTok has emerged as a modern travel guide, influencing younger audience’s travel decisions. Virtual reality offers virtual tourism experiences, providing immersive experiences that can help stimulate traveler’s imagination of what the destination could really be like.
New study shows how wine is winning over the 30-something crowd, Forbes
A new study by the Wine Market Council contradicts previous reports suggesting that U.S. millennials are not adopting wine at the same rate as other generations. The study reveals that 30-something millennials are consuming more wine, with high-end millennial consumers spending more per bottle on average than baby boomers. Millennials have pulled ahead in wine consumption with 36% average consumption in 2023, surpassing Gen X and Gen Z. Wineries also confirm an increase in millennial wine consumption, especially for higher-priced wine and those falling in the “better for you” category. Millennial’s focus on health and wellness, diversity, and new experiences are driving factors in their wine consumption habits. Despite previous reports, it’s evident that millennials are embracing wine as they enter their 30’s, raising questions about whether Gen Z will follow suit.
Optimizing revenue and event attendance in the face of new meeting attendee behavior, Maritz
Meeting attendee behavior post-pandemic has shifted, with more people waiting until the last minute to register for events. Late registrations spiked during the pandemic, and are on the rise, with 22% registering in the final week and 9% registering on-site. Late registrations pose logistical and financial challenges for event organizers. Analysis of over 360,000 registration records indicates that late registrants spend more on ancillary show offerings compared to early registrants. Strategies to optimize attendance and revenue include re-visiting marketing, logistics, and pricing strategies. Suggestions for event organizers include avoiding opening registration too early, simplifying registration processes, and re-considering early-bird discounts.
International travel update, U.S. Travel Association
India and Canada are the two international markets that have completely recovered in terms of volume of inbound travel relative to 2019 levels. France, U.K., Italy and Germany represent the second tier of the most recovered inbound travel markets, followed by Australia, South Korea, Mexico, Brazil in the third tier of international inbound travel, and Japan and China among the least recovered markets, primarily due to reduced air lift from the Asian markets. The average length of stay of international visitors to Sonoma County in March 2024 was 6.2 days, which increased from 4.8 days in March 2023. 92% of them stayed overnight in March 2024, compared with 86% who stayed overnight in March 2023.
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