The travel industry has not only bounced back but comes back swinging in 2022, even with 88,161 canceled flights and 549,942 delayed flights (so far) and pilot strikes. The cruise industry is also seeing multiple cancellations.
Surprisingly (or maybe not), business reports, such as those made by MasterCard and Bank of America, state that consumer demand and spending for travel have not cooled off. Recessions are normally preceded by a decrease of luxury spending, including vacations. However, it's also possible that the perspective regarding vacations has changed now that we've begun to realize how important mental health is. Vacations are no longer viewed as a luxury, but more of a necessity, as a chance to connect with oneself, refresh, and be reinvigorated. Sort of like a more practical and less kitschy Eat, Pray, Love and a more realistic Secret Life of Walter Mitty.
That said, despite a steady rise in travel spending, the average consumer behavior may have shifted when it comes to items like lodging and dining. This is all thanks to the exorbitant increase in gas prices including jet fuel. Travelers don't have a lot of options when it comes to spending money on airplane tickets and gasoline, so they have to cut back on other items, such as dining, lodging, and of course, luggage.