'Revenge tourism' - the party is coming to an end.

The era of "revenge tourism " may be coming to an end as inflation drives up costs, and the tourism boom in Asia is also past its peak.

A report from market research firm Morning Consult in late September showed that in some countries, the number of people intending to travel continues to increase. However, in other countries, particularly in Europe and the Americas, this trend is beginning to plateau or decline. The number of French people wanting to travel decreased by 11% compared to the same period in 2022, Germany by 6%, and Canada and Russia by 4% each. The study was conducted over two years, 2022-2023, surveying 14,000 adults.

Inflation has led to reduced incomes in many places, forcing people to restructure their spending. Lindsey Roeschke, a tourism and hospitality analyst at Morning Consult, suggests that pent-up demand for travel is waning. While travel won't decrease significantly, most people don't have the same urge to travel as they did in the post-pandemic period.

Spanish tourists wearing conical hats pose for souvenir photos in Vietnam during their trip in late September. Photo: Charlie Vietnam — Spanish tourists wearing conical hats pose for souvenir photos in Vietnam during their trip in late September. Photo: *Charlie Vietnam*

"Revenge travel" is a term referring to the trend of people flocking to travel after spending time at home. This trend exploded after the pandemic, when restrictions were lifted.

Morning Consult predicts that revenge tourism will "linger longer" in the Asia- Pacific region, where many countries implemented longer pandemic-related restrictions and reopened their borders later than other regions. However, according to a report by Oxford Economics, a US- and UK-based organization, travelers are increasingly opting for shorter segments of their "revenge trips."

Pent-up demand fueled tourism in the Asia- Pacific region during the first half of this year. Since then, the trend has begun to reverse. Singaporean visitor numbers to Malaysia, for example, have declined after a surge at the end of 2022.

Morning Consult reports that Japanese travel demand is the lowest among the 15 countries surveyed, with only 53% of respondents planning a vacation in the next 12 months. Chinese demand surged, with domestic and international bookings during the October 1st Golden Week holiday rising 20-fold compared to the same period last year. "But this level of enthusiasm may not last," Oxford Economics warns. The report also notes that Chinese travelers are increasingly preferring domestic rather than international travel.

The tourism boom in Asia has passed its peak. "The growth in numbers is unlikely to be enough to prevent a slowdown in the recovery in most parts of the world. This is a major blow to destinations hoping for a strong rebound," the Morning Consult report stated.

Nevertheless, the tourism industry remains optimistic. A survey by US-based real estate company JLL, published on September 28, indicated that 77% of hotel owners in the Asia-Pacific region predict occupancy rates will increase in 2024.

( By Anh Minh , according to CNBC )

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