A weak economy will test consumers' wanderlust, but these stocks could prove resilient in 2023

📆 12/20/2022 4:03 PM
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Pent-up demand drove Americans to travel this year, but the trend may moderate next year. Here are the stocks that could outperform their peers.

This year has been a great one for many travel companies as Americans, free from the confines of Covid-19 restrictions, splurged on vacations. The question now is whether that momentum will continue or get derailed by a possible recession next year. Throughout 2022, consumers prioritized travel even if it meant cutting back in other areas. But if a downturn causes people to cut back even more on spending, travel could be on the chopping block. The U.S.

'Lean and mean' online travel companies While some brace for a slowdown in travel demand, Evercore ISI analyst Mark Mahaney said the online travel companies have already cut costs and have "lean and mean cost structures" going into 2023. One of his top picks is Booking Holdings, which has a battle-tested management team that has already navigated through 9/11, the 2008 financial crisis and Covid, he recently told CNBC's " Closing Bell .

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