Redtag.ca has shared its latest booking trends and things are looking up.
With the travel industry growing at an annual rate of 12.09 per cent, its projected market value will be just over $1 billion by 2026, the company said Wednesday (Aug. 24).
Recent studies are showing that it's not just about going on a fabulous trip or even how we travel, but why we travel, the company said.
“More than ever, travellers understand the importance of travel as a source of intentional relaxation and connection with loved ones, whether that means going on a big adventure or lying by the beach,” the company said.
At redtag.ca, which is owned by H.I.S.-Red Label Vacations Inc., vacation packages are almost back up to 100 per cent compared to 2019, while cruises have seen an increase of 300 per cent.
The pent-up demand for travel continues with Canadians booking up to six months in advance to secure their preferred air, accommodations, and itineraries.
Additionally, consumers are motivated to book now to avoid paying more later as pricing potentially increases and are more willing to invest in more luxurious experiences for their return to travel.
What type of trips?
redtag.ca says it is seeing a spike in group vacations and multi-generational family trips to popular Caribbean destinations.
Mexico continues to be the number one selling destination for Canadians, with Cuba, Jamaica, the Dominican Republic, and Las Vegas closely trailing behind.
During the month of July, redtag.ca ran their Christmas In July Sale, which showed Cancun (Mexico) as the top booking destination overall, followed by Punta Cana (Dominican Republic).
redtag.ca responded to the demand with a summer promotion on group travel where travellers can pay for their group vacation with a monthly payment plan at 0% interest and be entered for a chance to win up to $25,000 in cash back for their trip.
The offer started in July and runs until August 31, 2022.
With the high season for Canadian travel just around the corner, redtag.ca is working on new partnerships with other trending destinations such as Jamaica, Barbados, Orlando, and Texas to bring travellers the best selection for their fall and winter getaways.
“The travel industry is undoubtedly growing and changing, and redtag.ca continues to shift and adapt in order to meet the needs of today's travellers with greater precision,” the company said.