TICO Market Research Reveals Key Travel Consumer Insights

The most recent consumer survey by Ontario’s industry regulator has revealed that when consumers are aware of the Travel Industry Council of Ontario (TICO) and the travel consumer protection in place, they are significantly more likely to book with a registered business – 75% compared to 43% of the general population.

The organization says this highlights the value of consumer protection not only as a safeguard for consumers, but as a business advantage for TICO registrants.

TICO conducts yearly research of Ontario consumers through a third party. Here are more of the findings from this year.

Who’s booking with a TICO registered business? 

Consumers who are aware of TICO and the consumer protection available to them are significantly more likely to choose a TICO registered business to book with. Additionally, Ontarians aged 35-44 are the most likely to book with a TICO registered business, followed by those aged 45-54 and 25-34. Understanding these demographics may help you tailor your marketing efforts.

Consumers are confirming who they are booking with. 

44% of Ontarians say they always or often verify if the business they are booking with is regulated.

Trust in the travel industry is growing. 

Rebounding post-pandemic, 69% of Ontarians say they trust the travel industry overall compared to 65% last year and 55% two years ago.

Confidence in travel is on the rise. 

59% of Ontarians feel more comfortable travelling now compared to 40% a year ago.

Financial concerns are more prevalent. 

60% of Ontarians are concerned about the financial investment of travel now, compared to 47% a year ago.

Satisfaction with consumer protection is increasing. 

63% of Ontarians are satisfied with travel consumer protection regulations, up from 41% the prior year.

Flexible options matter. 

Travellers are preparing against uncertainty with 75% saying they prefer options with flexible change or cancellation policies.