2026年春夏旅行脉搏

Spring/Summer2026Travel

GLOBAL

Pulse

In2026,traveldemandisn’ttheproblem.Convertingitis.

Theneweraoftravel

Thepathtobookinghasgrownmorecomplex.Economic

pressure,geopoliticaltensions,andregionaldisruptionsarereshapingwherepeoplegoandhowtheydecide.

Today’stravelersrarelymoveinstraightlines.Theycomparemoreandhesitatelonger.Theymoveacrosschannels,revisit

decisions,andweightrade-offswithgreaterscrutiny.Theresultisamoredeliberate,butfarlesspredictable,pathtopurchase.

Insightsonbehaviors,budgets,andbookingtrends

Drawingondatafromhundredsoftravelproviders,alongside

insightsfrommorethan6,000consumersworldwide,thisreportunpackswhat’sshapingtravelerbehaviornow,andwhatittakestoturnintentintobookingsinanincreasinglyfragmented

landscape.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

Booking

BehavioralShifts

02

Today’sTraveler

03

TheStateofTravel

Demand

01

BudgetsMeet

BucketList

04

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

01

TheStateof

TravelDemand

Q12026

8%

Travelersareback,but

deliberateinhowtheybook

InQ12026,globaltraveldemandincreased,withtrafficupacross

mostsegments.Thissupportedgainsinbookingsandrevenue,drivenprimarilybyairperformance.

However,conversionratesdeclined,withthesteepestdropsinOTAs(-7%).Atthesametime,averageordervalueremainedflatornegative,pointingtocontinuedpressureonmonetizationdespiterising

demand.

-3%

Bookings

1%

10%

-7%

Revenue

-2%

8%

0%

8%

Traffic

1%

CR

-3%

-7%

2%

AOV

-4%

-3%

-25%-15%-5%5%15%25%

AirHotel&ResortOTA

Source:OrganicCriteoData.Year-on-YearOnlineMetrics,GLOBAL–JanuarytoMarch2025and2026.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

Q12026

Moretravelersareexploringoptionsonline

InQ12026,onlinetrafficincreased+8%YoY,drivenprimarilybyair

demand.TheAmericasledgrowth,withairtrafficup+20%,alongsidegainsinhotelandOTAs.

Regionalperformancedivergedelsewhere:APACexperienceda17%dropinairtraffic,offsetbycontinuedgrowthinOTAandhotel,whileEMEAremainedmixed,withmodestOTAgainsdespitedeclinesin

othersegments.

EMEA

AMERICAS

APAC

GLOBAL

1%

-7%

6%

20%

5%

15%

-17%

5%

11%

8%

0%

8%

-30%-20%-10%0%10%20%30%40%50%

AirHotel&ResortOTA

Source:OrganicCriteoData.Year-on-YearOnlineTrafficbyregion–JanuarytoMarch2025and2026.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

Q12026

-2%

EMEA

3%

-8%

Conversionsoftensacrosstravelcategories,withairmoreresilient

-3%

AMERICAS

-9%

-8%

ConversionratesdeclinedacrossmosttravelcategoriesandregionsinQ12026,withOTAsseeingthesteepestdrop(downof12%intheAmericasand-10%inAPAC).HotelfollowedasimilartrendtoOTAs.

6%

Airremainedmoreresilient,withslightgainsgloballyandstrongerperformanceinAPAC.

APAC

-3%

-6%

1%

GLOBAL

-3%

-7%

-20%-10%0%10%20%30%40%

AirHotel&ResortOTA

Source:OrganicCriteoData.Year-on-YearOnlineConversionRatebyregion–JanuarytoMarch2025and2026.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

Q12026

Traveldemandisgrowing,ledbyairintheAmericas

InQ12026,airbookingsincreased+8%globally,drivenbystronggrowthintheAmericas(+17%).Incontrast,APACsawdeclines(-12%),whileEMEAremainedslightlynegative.

HotelandOTAbookingsshowedmorelimitedandunevengrowthacrossregions,reinforcingtheconcentrationofdemandinairandcontinuedrelianceonkeymarketstodriveoverallperformance.

EMEA

AMERICAS

APAC

GLOBAL

-1%

-5%

-2%

17%

-5%

6%

-12%

1%

4%

8%

-3%

1%

-20%-10%0%10%20%30%40%

AirHotel&ResortOTA

Source:OrganicCriteoData.Year-on-YearOnlineBookingsbyregion–JanuarytoMarch2025and2026.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

Q12026

-5%

EMEA

-6%

Travelrevenueisrising,butunevenlyacrosscategories

Globaltravelrevenueincreased+10%YoYinQ12026,ledbystrong

airperformanceintheAmericas(+19%).Incontrast,EMEAandAPACdeclinedacrossmostsegments,pointingtounevenregionaldemand.

HotelandOTArevenuesareunderperformingglobally,reinforcingtheconcentrationofrevenuegrowthinair.

-2%

19%

AMERICAS

-10%

0%

-3%

APAC

-4%

-3%

10%

GLOBAL

-7%

-2%

-20%-10%0%10%20%30%40%

AirHotel&ResortOTA

Source:OrganicCriteoData.Year-on-YearOnlineRevenuebyregion–JanuarytoMarch2025and2026.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

-4%

EMEA

-1%

Spendingpertripremains

stabledespiteshiftingdemand

InQ12026,globalaverageordervalueremainsrelativelystable,withmostsegmentsremainingflatornegative.

Airstandsoutwithgrowthacrossregions,particularlyinAPAC(+9%),whilehotelandOTAAOVsdeclineinmostmarkets,especiallyintheAmericasandAPAC.

0%

2%

AMERICAS

-5%

-6%

9%

APAC

-5%

-7%

2%

GLOBAL

-4%

-3%

Q12026

-10%-5%0%5%10%15%20%25%30%

AirHotel&ResortOTA

Source:OrganicCriteoData.Year-on-YearOnlineAverageOrderValuebyregion–JanuarytoMarch2025and2026.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

AIR-GLOBAL

Travelerscontinuetoshowstronginterestinairtravelbutbooking

behaviorvaries

Globalairtrafficshowsconsistentgrowththroughouttheperiod,reachingapeakofover+20%YoYinlaterweeks.

Bookings,however,aremorevolatile,withfluctuationsanddeclinesinseveralweekstowardtheendoftheperiod.Thisdivergence

suggestssustaineddemand,butinconsistentconversionintobookings.

35%

25%

15%

5%

-5%

-15%

-25%

22%

Feb17Mar03Mar17Mar31

TrafficBookings

Source:OrganicCriteoData.WeeklyYear-on-YearOnlineAirTrafficandBookings,Global–Week8-15(Feb17-Apr13)2025vs2026.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

AIR-AMERICAS

IntheAmericas,airdemandisoutpacingbookings

AirtravelintheAmericasshowssustainedgrowth,withtraffic

consistentlyrisingandreachingmid-20%YoYgrowthinthelaterweeks.

Incontrast,bookingstrendloweroverthesameperiod,withgrowthmoderatingandbecomingmorevariable,pointingtoawideninggapbetweentravelerinterestandcompletedbookings.

40%

35%

30%

25%

20%

15%

10%

5%

0%

26%

24%

23%

Feb17Mar03Mar17Mar31

TrafficBookings

Source:OrganicCriteoData.WeeklyYear-on-YearOnlineAirTrafficandBookings,AMERICAS–Week8-15(Feb17-Apr13)2025vs2026.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

AIR-EMEA

InEMEA,airdemandisrising

butnottranslatingtobookings

AirtrafficinEMEAshowsstronggrowth,withapeakexceeding+40%YoYinlaterweeks.

However,bookingsremaininconsistent,withseveralweeksdippingintonegativelevels,highlightingapersistentgapbetweenrising

interestandcompletedbookings.

70%

60%

50%

44%

40%

30%

20%

10%

0%

-10%

-20%

Feb17Mar03Mar17Mar31

TrafficBookings

Source:OrganicCriteoData.WeeklyYear-on-YearOnlineAirTrafficandBookings,EMEA–Week8-15(Feb17-Apr13)2025vs2026.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

HOTEL-APAC

InAPAC,hoteldemand

strengthensbutconversionremainsmodest

HoteltrafficinAPACincreasesovertheperiod,withalatespikenearing+30%YoY.

Incontrast,bookingsremainlowandinconsistent,withonlymodestgainsandperiodicdeclines,suggestingcontinuedfrictionbetweendemandandconversion.

40%

35%

30%

25%

20%

15%

10%

5%

0%

29%

19%

Feb17Mar03Mar17Mar31

TrafficBookings

Source:OrganicCriteoData.WeeklyYear-on-YearOnlineHotelTrafficandBookings,APAC–Week8-15(Feb17-Apr13)2025vs2026.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

GeopoliticaldisruptionsharplyimpactsMiddleEasttravel

GeopoliticaltensionstriggeredasharpdeclineinairtraveltotheMiddleEast,withbookingsdroppingasmuchas78%versusearlyFebruarylevels.WhilenearbymarketslikeTurkeyremainmoreresilient,demandoverallhasyettofullyrecover—highlightingunevenregionalimpactandcontinuedsensitivitytodisruption.

IndexedInternationalAirBookingsbyDestination,February–April2026

140

120

IranWar

100

80

60

40

20

22

0

2026-02-01

2026-02-08

2026-02-15

2026-02-22

2026-03-01

2026-03-08

2026-03-15

2026-03-22

2026-03-29

2026-04-05

2026-04-12

2026-04-19

TurkeyEgyptMiddleEast

OrganicCriteoData.IndexeddailybookingsofinternationalflightstoTurkey,Egypt,andMiddleEast.Baseline:AverageinFeb1-7,2026.

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TRAVELVS.RETAIL

Global-RetailSalesvs.AllTravelBookings

WeeklyIndexedSales&BookingscomparedtoaverageinMar1-28,2025

Traveloutperformsretailduringpeaksummer

FromearlyJulytomid-August,travelbookingsoutpacedretailsalesby4indexpointsonaverage.

Thisperiodmarksaclearseasonalshiftasconsumerdemandpivotstowardslastminutetravelduringpeaksummer.

120

110

100

90

80

70

29-Mar

13-Apr

28-Apr

13-May

28-May

12-Jun

27-Jun

12-Jul

27-Jul

11-Aug

26-Aug

10-Sep

25-Sep

10-Oct

25-Oct

60

RetailTravel-mm-Baseline

Source:OrganicCriteoData.WeeklyRetailSales&TravelBookingsindexedtoMar1-28,2025.GlobalRetailers&TravelProviderswithstabledataduringMar1-Nov7,2025.Verticalsareindependent,andthisisnotrepresentativeofrelativevalue/volume.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

TRAVELVS.RETAIL–EMEA

EMEA-RetailSalesvs.AllTravelBookings

WeeklyIndexedSales&BookingscomparedtoaverageinMar1-28,2025

InEMEA,travelleadsduringpeaksummer

TravelbookingsinEMEAoutpacedretailforovertwomonths,by6indexpointsonaverage.

Thissustainedleadreflectsstrongseasonaldemand,withtravel

maintaininganadvantageduringpeakweeksbeforeconvergingwithretaillaterintheperiod.

120

110

100

90

80

70

60

Mar01Mar29Apr26May24Jun21Jul19Aug16Sep13Oct11

RetailTravelmmmoBaseline

Source:OrganicCriteoData.WeeklyRetailSales&TravelBookingsindexedtoApr1-28,2025.EMEARetailers&TravelProviderswithstabledataduringMar1-Nov1,2025.Verticalsareindependent,andthisisnotrepresentativeofrelativevalue/volume.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS

TRAVELVS.RETAIL–AMER

Americas-RetailSalesvs.AllTravelBookings

WeeklyIndexedSales&BookingscomparedtoaverageinJan6-12,2025

IntheAmericas,travelstartsstrongbutsoftensovertime

TravelbookingsintheAmericasoutpacedretailearlyintheyear,withstrongerperformancethroughQ1andearlyQ2.

Fromlatespringonward,thegapnarrowsasbothcategoriestrackmoreclosely,beforetravelsoftensrelativetoretailinthelater

months.

120

110

100

90

80

70

60

Jan06Feb05Mar07Apr06May06Jun05Jul05Aug04Sep03Oct03Nov

RetailTravelBaseline

Source:OrganicCriteoData.WeeklyRetailSales&TravelBookingsindexedtoJan6-12,2025.AmericasRetailers&TravelProviderswithstabledataduringJan6–Nov3,2025.Verticalsareindependent,andthisisnotrepresentativeofrelativevalue/volume.

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TRAVELVS.RETAIL–APAC

APAC-RetailSalesvs.AllTravelBookings

WeeklyIndexedSales&BookingscomparedtoaverageinApr1-28,2025

InAPAC,travelmaintainsalongerseasonallead

TravelbookingsinAPACoutpacedretailfromearlyJulythroughmid-October,byanaverageof8indexpoints.

Thisextendedperiodofoutperformancehighlightsalongertravelseason,withdemandremainingelevatedwellintolateQ3beforegraduallynormalizing.

120

110

100

90

80

70

60

Apr01May01May31Jun30Jul30Aug29Sep28Oct28

RetailTravelmmmoBaseline

Source:OrganicCriteoData.WeeklyRetailSales&TravelBookingsindexedtoApr1-28,2025.APACRetailers&TravelProviderswithstabledataduringApr1-Nov10,2025.Verticalsareindependent,andthisisnotrepresentativeofrelativevalue/volume.

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02

Booking

Behavioral

Shifts

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AIRTRAVEL

YoYpercentagepointchangeinshareofinternationalflights

+1.4%

-0.5%

EMEA

TripsaremovingclosertohomeamongAPACtravelers

InternationaltravelsharedeclinesinAPAC(-4.7pts)andslightlyintheAmericas(-0.5pts),whileEMEAincreases(+1.4pts)year-over-year.

Thissuggestsashifttowardmoredomesticandregionaltravelinsomeregions,ratherthanauniformglobaltrend.

Americas

-4.7%APAC

Source:OrganicCriteoData.FlightdatapulledfrombookingscompletedApr1-14inboth2025and2026,acrossthesamesetofAirTravelpartnerswithconsistentdatainbothyears.

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AIRTRAVEL

Internationaltraveldistancesdivergebyregions

Withininternationaltravel,distancepreferencesdivergebyregion.TheAmericasshifttowardlong-haultrips(+2.2pts),whileAPACshiftstowardmid-haul(+1.2pts)aslong-hauldeclines(-1.3pts),andEMEAremainsstable.

YoYpercentagepointchangeinflighttypeshares

5.0%

Flightlengthisdefinedas:

•Short-haul:<750nauticalmiles

•Medium-haul:750–2,500nauticalmiles

•Long-haul:>2,500

nauticalmiles

0.0%

-5.0%

Internationalflights,broken-downbydepartureregion

2.2%

0.3%

0.1%

1.2%

-0.5%

-1.8%

-0.1%

-0.2%

-1.3%

Short

Medium

EMEA

Long

ShortMediumLongShortMediumLong

AmericasAPAC

Source:OrganicCriteoData.FlightdatapulledfrominternationalbookingscompletedApr1-14inboth2025and2026,acrossthesamesetofAirTravelpartnerswithconsistentdatainbothyears.

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PATHTOBOOK

ShareofRespondentsWhoEnjoyaLongerBrowsingand

DiscoveryProcessforTravel&Experiences

42%

Travelerswhobrowsemoreplansmarter

Globally,42%oftravelersenjoyextendedbrowsingwhenplanning

trips.Thisgroupplanswithintent—bookingearlier,travelingoff-peak,andcomparingproviders—reflectingamoredeliberateandoptimizedapproachtotraveldecisions.

ShareofRespondentsUsingCostOptimizationMethods,by

BrowsingPreferenceforTravel&Experiences

Bookingfarinadvance

Travelingduringoff-peakseasons

Comparingmultiple(3+)travelproviders

51%

36%

48%34%

40%24%

0%20%40%60%80%

Enjoysextendedbrowsing/discoveryOthers

Source:CriteoSurvey–ConsumerTravelPreferences,February2026.Global.N=6,379

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PATHTOBOOK

Travelerscomparemorehotelsbeforetheycommit

Travelersevaluateawiderangeofoptionsbeforebooking,browsinganaverageof25hotellistingspriortopurchase.

Thissustainedevaluationhighlightsahighlycompetitivelandscape,

wheremultipleinteractionsinfluencethefinaldecisionandconversionisrarelyimmediate.

Source:OrganicCriteoData.BookingsfromMarch18-31,2026;measuringnumberofproductofferingsbrowsedonitemandlistingpages;browsingwindowspanningJan1–Mar31,2026forvisitorswhocompletedabooking.GlobalHotel&ResortTravel

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS25

Partners.

Numberofhotelofferingsbrowsedbeforepurchase

25

PATHTOBOOK

Bookingjourneysareshortonaverage,buthighlyvariable

Travelbookingwindowsremainrelativelyshortonaverage,at9.5daysforflightsand11.5daysforhotels.

However,timelinesvarywidely.Whilesomeusersconvertwithinminutes,otherstakeoveramonth,highlightingacompressedbuthighlyfragmentedpathtopurchase.

个

Air

Hotel

39.2Daysonavg.

36Daysonavg.

BOO

K

B

O

O

9.5Daysonavg.

11.5Daysonavg.

FourthQuartile

Groupslowesttobook

9.1minsavg.

9.6minsavg.

K

FourthQuartile

Groupslowesttobook

ING

ING

Overallavg.

Forallbookings

Overallavg.

Forallbookings

FirstQuartile

Groupfastesttobook

FirstQuartile

Groupfastesttobook

Source:OrganicCriteoData.BookingsfromMar18-31,2026;measuringtimefromfirstproductdescriptionpageviewuntilbookingcompletedfornewvisitors;browsingwindowspanningfromDec31,2025untilthebookingdateofeachvisitor.GlobalAirandHotel&ResortTravelPartners.

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ANTICIPATION

Longertripsrequirelongerplanninghorizons

Bookingleadtimesincreasesignificantlywithtriplength.

Tripsof8+nightsareplanned86daysinadvanceonaverage,nearlythreetimeslongerthansingle-nightstays(29days)withmid-lengthtripsfallinginbetween.

Daysbookedinadvancebybucketsofstaylength

Searched86Daysinadvance

8+nights

(Averageduration:15.5days)

Searched66Daysinadvance

4-7nights

(Averageduration:5.4days)

Searched47Daysinadvance

2-3nights

(Averageduration:2.5days)

1night

Searched29daysinadvance

Source:OrganicCriteoData.Flight,hotelandtourpackagesbookingsduringApr1-14,2026.Global.

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ANTICIPATION

Bookingwindowsaretighteningacrosstriptypes

Bookingleadtimesremainrelativelyextended,particularlyforlongertrips,butaredecliningyearoveryearacrossallstaylengths.

InearlyApril2026,theaverageleadtimefellto52.7days(-7%YoY),withconsistentdeclinesacrosstriptypes.Evenlongerstays(8+

nights),whichhavethelongestplanningwindows,sawleadtimesdropto85.5days(-6%YoY).

AverageBookingAnticipationTime,April1-14,2026vs.2025

2025

2026

YoYchange

Average

56.6days

52.7days

-7%

1night

29.6days

28.5days

-4%

2-3nights

48.6days

46.7days

-4%

4-7nights

71.1days

66.4days

-7%

8+nights

91.2days

85.5days

-6%

Source:OrganicCriteoData.Flight,hotelandtourpackagesbookingsduringApr1-14,2026.Global.

PROPRIETARY&CONFIDENTIAL.COPYRIGHT©CRITEO2026.ALLRIGHTSRESERVED.TRAVELINSIGHTS28

DISCOVERY

Travelstandsoutasahigh-discoverycategory

Traveldrivesdeeperdiscoverythanmostcategories,with42%ofconsumersgloballyengaginginextendedbrowsing—onparwithfashion.Thismakesdiscoverya

criticalstageforinfluencingtraveldecisions.However,engagementvariesbymarket,withparticularlystrongdiscoverybehaviorinFrance(52%)andGermany(46%).

Inwhichcategoriesdoyouactivelyenjoyalongerbrowsing/discoveryprocess?(Selectallthatapply)

GLOBAL

United

States

United

Kingdom

France

Germany

Japan

South

Korea

Electronics

43%

47%

47%

47%

47%

20%

47%

Fashion

42%

47%

48%

35%

36%

43%

44%

Travel/Experiences

42%

37%

41%

52%

46%

36%

39%

Beauty/PersonalCare

33%

39%

40%

27%

27%

28%

37%

Groceries/HouseholdItems

30%

41%

31%

9%

20%

34%

47%

HomeDécor/Furniture

30%

35%

35%

35%

35%

19%

21%

Health/Wellness

25%

30%

24%

27%

22%

19%

29%

None—givemeefficiencyoverdiscovery

9