2 days ago
Looking inside the mixed bag of travel trends
Jamie Biesiada
When it comes to where advisors' clients are traveling now, like many other trends in the agency community, it's a true mixed bag.
We recently ran a survey of advisors to gauge how the agency community is faring so far this year. While the majority are experiencing some kind of booking decrease, a number are seeing more bookings than last year, some significantly more.
Survey respondents indicated clients are shifting international destinations. In total, 58.9% of respondents said recent shifts in international relations or geopolitical events have influenced international bookings, either significantly (26.5%) or slightly (32.4%). A little more than one-third (35.7%) of respondents aren't seeing any shifts, while 5.5% didn't know.
We also asked advisors an open-ended question: Have you noticed any shifts in the popularity of specific international destinations among your clients?
A significant portion of respondents simply said no.
But among those that offered observations, they fell across the board. Take Europe, for example: Many said interest in the Continent remains high, but a notable number of advisors said that interest has fallen off, clients are canceling trips and they're expressing reluctance to travel there.
Italy, specifically, remains hot, according to many advisors. Yet, as one pointed out, some clients are avoiding it as it's a Jubilee year for the Catholic Church, drawing millions of additional travelers to Rome.
Japan remains a standout destination in terms of popularity.
Like Europe, Mexico and the Caribbean were a mixed bag, with some advisors reporting great interest in the regions and others saying client interest has fallen off.
Some indicated clients are interested in domestic travel and staying closer to home.
Several advisors pointed to increased client preference for cruises, including both river and ocean cruising.
Concerns about anti-American attitudes abroad seem to be weighing on the minds of advisors' clients. A number said clients were concerned about how they would be perceived and treated abroad, with some concerned about safety.
"They're all asking questions about, 'Is it safe for Americans? Will people be mean to me?'" one advisor wrote, noting those concerns are usually surrounding trips to Europe.
Another wrote: "A handful of clients have expressed hesitation to any international country for fear of how they view Americans right now. But I will say that it is far more common for those that are less traveled."
