The economic crisis has led to a loss of purchasing power for Belgians, causing various consequences on the economy. However, some sectors are doing better than others. One such sector is the Horeca, which continues to fill its restaurants despite the effects of price increases. This indicates the population’s desire to have fun whenever possible. The tourism sector also seems to be doing well. According to the latest figures from the GFG Travel Intentions Report (GTIR), commissioned by the Belgian Association of Tour Operators (ABTO), Belgians plan to go on vacation in 2023 and are willing to spend more money to enjoy it.
The average maximum spending budget for holidays, according to the report, is €858 per person, which is slightly higher than in 2020 (€769) but not significantly so when inflation is taken into account. The maximum budget per person for a package travel by plane is €1207, which represents a 30% increase compared to before the pandemic.
In terms of accommodation, the hotel industry faces increasing competition from rentals of houses, villas, and apartments. However, it still remains the preferred choice for 84% of Belgians when it comes to air travel packages.
As for the favorite holiday destinations of Belgians in 2023, France remains on top (19% of trips), followed by Spain (8.5%), Italy (5.5%), and the Netherlands (4%). Interestingly, Belgium ranks second as a destination, with 11% of intentions compared to 12.1% in 2022 and 15.7% in 2021.
Overall, despite the economic crisis, Belgians seem to be keen on traveling and spending money on their vacations in 2023.
Did you say economic crisis? We have been talking about a loss of purchasing power for Belgians and all the consequences this has had on the economy for many months, but some sectors are doing better than others.
We have already mentioned the Horeca which is suffering the effects of price increases, but which continues to fill its restaurants. It is an indication of the desire of the population to continue to have fun, when possible. For the tourism sector, this seems all the more true. Belgians will go on vacation in 2023, and are even ready to spend more money to enjoy it. This is what the latest figures from the GFG Travel Intentions Report (GTIR), commissioned by ABTO, the Belgian Association of Tour Operators, indicate.
An agreement for the holiday pay of tens of thousands of workers
“The average maximum spending budget for their holidays, according to the intentions of our fellow citizens, amounts to 858 euros per person, up compared to 2020 (769 euros) but not dramatically, especially if we consider inflation account. It is at a level close to that of 2021 where the desire to travel again and enjoy it after months of confinement was very strong. If we look more specifically at the maximum budget per person for a package travel by plane, this rises to 1207 euros, much more than before Corona (927 euros): the increase reaches 30% between 2020 and 2023”, we learn.
What are the favorite holiday destinations of Belgians in 2023?
Inflation partly explains this phenomenon since everything increases, even the price of holidays. But we are also talking here about intention to spend, so the amount that the Belgians are ready to put on the table even before having reserved. There are also some changes in habits in terms of the type of accommodation. “In terms of accommodation, the hotel faces increasing competition from rentals of houses, villas and other apartments. But it maintains its positions in the context of air travel packages (84% still prefer it).”
And in terms of favorite destinations? France obviously remains at the top (19% of trips), ahead of Spain (8.5%), Italy (5.5%) and the Netherlands (4%). And Belgium? It ranks second as a destination, with 11% of intentions, compared to 12.1% in 2022 and 15.7% in 2021.
Despite the economic crisis and loss of purchasing power, the desire to travel and have fun remains strong among Belgians. The tourism sector is showing promising signs with increased spending intentions for holidays in 2023, and hotels maintaining their position as the preferred type of accommodation. Popular destinations such as France, Spain, Italy, and the Netherlands continue to be top choices, while Belgium ranks second as a destination. Although some sectors may be struggling, the willingness to spend on experiences and travel highlights the resilience and adaptability of the Belgian population.