Inflation pushes travelers toward cheaper trips

• Cost-conscious global travelers are trading down on lodging too — opting for well-rated two- and three-star hotels that offer a four-star experience.
• Trivago data also shows trips got shorter throughout last year.

Yes, but: Even as inflation has squeezed families' budgets, they haven't been willing to cut out travel altogether.

• "What we all learned in lockdowns and learned to appreciate is that travel is actually not discretionary spending … but it's really a basic need,” Hefer said.
• “You need a change of scenery from time to time to stay sane.”

What to watch: Across the board, travel industry executives from American Airlines, Delta, United and Marriott anticipate wanderlust to remain strong this year.

• Pent-up demand from Chinese tourists, the world’s largest group of outbound travelers, is one driving factor for the optimism.