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Inflation 2023, its impact on French purchases and leisure activities
A large proportion of French people have had to make a choice about their vacations, and some have had to scale back their travel requirements. One of the causes? Soaring hotel rates in the run-up to the Rugby World Cup in France in September 2023, and annual inflation set at +5.2% in 2022 by the French National Institute for Statistics and Economic Studies (INSEE).
As a result, the French want to travel more locally and more cheaply, and the usual pattern of long-haul vacations is changing to make way for more thoughtful tourism by a large proportion of the population. According to the MKG report, by mid-August, booking rates for September had already reached 41.6% for France as a whole, compared with 35% a year earlier.
So which destinations will be a hit with French holidaymakers in 2023?
In the top 5, we find the Côte d'Azur, obviously for its beaches, then Provence for its sunshine, Corsica for its heavenly side, the Ile de France for visiting the capital in the hope of a little sunshine, and to finish in the top 1, Brittany for its wide open spaces, mild temperatures and fine sandy beaches.
Reference period: Thursday April 20, 2023 to Tuesday June 20, 2023 - Comparison period: Thursday April 21, 2022 to Tuesday June 21, 2022. Source: Piano Analytics/Guide du Routard data collection
The most popular destinations abroad are the United States, Canada, China and Japan. It's worth noting that Nippon culture has been receiving a great deal of attention in recent years from a fairly young French population.
Some figures on French spending in 2023 according to the YouGov report
- - 69% of French people say they are more careful with their finances than in the past
- - 70% of French people are using their car less because of rising prices
- - Meat is the foodstuff most affected by the reduction in the food shopping budget; for 65% of French people
- - 29% of respondents who have reduced their telecoms spending have changed mobile operator
- - 19% of respondents have completely cut back on restaurant and travel expenses
Summer trends in the restaurant and hotel business
Ultimately, 9 out of 10 French people stayed in France.
Firstly, the French are eating out less this summer, confided the Union des métiers et des industries de l'hôtellerie to Europe1. Restaurant owners are talking about a drop in revenue due to higher prices and hot weather.
What's more, travelers chose their campsites for their holidays, preferring to spend the night at a campsite rather than in a hotel. These structures are recording more bookings than in 2022. Finally, campsites have refrained from raising prices in order to retain their clientele, which is generally middle-class.
All in all, the 2023 season has not been a failure for the hotel and restaurant industry, even if inflation has led to a number of restrictions among households.
