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Business Wire 7-Jan-2019 6:45 AM
WEX Inc. (NYSE:WEX), a leading provider of corporate payment solutions, has released its 2019 Travel Trends and Expectations report in partnership with Mastercard, which conducted the primary research. For the second consecutive year, the report yields rich insight into how U.S. travelers view the travel landscape and how these attitudes and preferences will impact travel behaviors in 2019. This data is intended to help inform travel companies of the shifts in the travel market as business planning for the new year solidifies.
Among the key findings, travel abroad is anticipated to increase in 2019. In particular, more travelers say they will travel to Europe in 2019 than in 2018, and Asia/Pacific has become a popular destination among younger travelers. The data uncovered additional trends, including:
"Technology is the thread connecting many of our travel findings and predictions for 2019," said Jay Dearborn, president of WEX Corporate Payments. "The influence of technology on the travel industry, and on both the imagination and preparedness of today's travelers, simply cannot be overstated. It is our hope that this report provides travel industry professionals with the insights they need to reach today's self-directed travelers where they're most likely to be: online."
"Now that we're in our second year of working with WEX to develop this report, we've been able to compare and track changes from the previous year, giving us great insight into exactly where the shifts in Americans' travel habits and expectations are occurring," said Ed Glassman, executive vice president North American markets at Mastercard. "Disruptive new services and technologies have made it a very exciting time to be both a consumer and a provider of travel services."
Download the full report here.
MethodologyThe 25-minute self-administered web-based interviews were conducted from Oct. 3, 2018, through Oct. 22, 2018. There were 1,502 total respondents, with key demographic segments including, Gen Z, 18-20 (90); Millennials, 21-34 (436); Gen X, 35-54 (556); and Boomers, 55-70 (421). Before taking the survey, respondents were screened to ensure they had taken three or more personal (non-business related) overnight trips in the past 12 months.
About WEXPowered by the belief that complex payment systems can be made simple, WEX Inc. (NYSE:WEX) is a leading provider of payment processing and business solutions across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through more than 3,500 associates around the world. WEX fleet cards offer 11.5 million vehicles exceptional payment security and control; purchase volume in its travel and corporate solutions grew to $30.3 billion in 2017; and the WEX Health financial technology platform helps 300,000 employers and more than 25 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.
About MastercardMastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190107005137/en/