Skift Take
Global travel softened due to the seasonality of demand. In October 2023, the Skift Travel Health Index dipped to 103. Europe was impacted the most due to reduced pent-up demand and economic concerns. Despite China's Golden Week holiday, the travel recovery in the country remained sluggish.
The Skift Travel Health Index: October 2023 Highlights report shows a slowing trend in global travel momentum as the index dipped 2 percentage points and stands at 103.
Softening Travel in Europe
Mirroring last year’s trends, all regions declined in October 2023, with Europe declining the most, by 5 percentage points.
| Region | 22-Sep | 22-Oct | Sept-Oct 2022 | 23-Sep | 23-Oct | Sept-Oct 2023 | |
|---|---|---|---|---|---|---|---|
| Asia Pacific | 72 | 70 | -2 | 104 | 102 | -2 | |
| Europe | 92 | 89 | -3 | 102 | 97 | -5 | |
| Latin America | 106 | 100 | -6 | 110 | 108 | -2 | |
| Middle East and Africa | 97 | 96 | -1 | 106 | 104 | -2 | |
| North America | 104 | 102 | -2 | 110 | 107 | -3 |
The slowed travel momentum has been primarily linked to rising inflation, which has eroded consumer savings in the past year, prompting them to revisit their spending priorities. Additionally, seasonality as well as the impact of large-scale conflicts may be contributing to the setback observed in European tourism.
Read our latest October 2023 Highlights for more insights on pricing trends and travel intent in Europe. Refer to the Skift Travel Health Index data dashboard for further analysis.
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Tags: china, europe, germany, golden week, hong kong, hotel rates, inflation, italy, skift travel health index