Nexi's ecommerce report shows 52% surge in travel spending

The data in the newly released report comes from a survey of over 10,000 consumers and it reveals that more than two-thirds favour purchasing from local shops online than from foreign markets. Respondents who participated in the research came from countries such as Norway, Denmark, Finland, Sweden, Switzerland, Germany, and Austria.

What is more, the data showcases a total indicative travel spend of over EUR 175 billion in 2022. More precisely, consumers have spent EUR 52 billion on hotels, EUR 45 billion on flights and, more than EUR 33 billion on charter and package trips. 

According to the research, the travel industry represented 32% of the overall ecommerce spending, with Italian and German travellers accounting for 70% of the total amount.  However, despite these figures, the largest year-on-increases in travel spending came from Austria and Finland, which saw levels rising over 110% when compared to the previous year. 

One representative from Nexi noted in the official release that the rise in travel spending is not surprising when considering the disruption caused to the sector by the pandemic. Additionally, the representative highlighted the fact that online consumer spending on physical goods has seen a sharp decline following the pandemic while buying services and travel online are witnessing increasing popularity, fuelled by a wider range of payment options and enhanced personalisation.

A discrepancy noted by Nexi’s representative has to do with travellers’ preference to make local purchases and use local payment methods. As explained further, this shift presents an opportunity for merchants to capitalise on it by catering to the evolving tastes and desires of tourists.

Additional findings and methodology

The new research outlined that 68% of the people surveyed had made an online purchase from a local shop in the previous month. Moreover, 48% of them expressed that they did so because supporting small or local businesses feels rewarding, while 29% of them said that it feels more personal or familiar. Only 19% of respondents conveyed that they shop locally because they do not endorse big global marketplaces.

According to Nexi’s 2022 Ecommerce Report, in 2022, there was an 11% growth in overall spending and a 52% growth in spending on travel compared to 2021.