The biggest travel trend of 2022 was to go big, spend big — with people eagerly booking bucket list-style trips to places like Bali, Rome, London and Paris.

But two new reports show travelers are now in a very different headspace.

Trend reports from Expedia and Booking.com show vacationers are forgoing splashy trips to global hot spots in favor of quieter trips to places that are lesser-known — and far less crowded.

Some 63% of travelers said they are likely to visit an off-the-beaten-track destination on their next trip, according to Expedia’s “Unpack ’25,” a travel trend report which surveyed 25,000 respondents from 19 countries.

Flight searches from Expedia from Sept. 1, 2023, to Aug. 31, 2024, showed rising interest to:

1. Reims, France
2. Brescia, Italy
3. Cozumel, Mexico
4. Santa Barbara, California
5. Waikato, New Zealand  
6. Girona, Spain
7. Fukuoka, Japan
8. Abu Dhabi, United Arab Emirates
9. Krabi, Thailand
10. Canmore, Canada

“Many destinations are becoming quite overcrowded,” said James Marshall, vice president of global air accounts at Expedia. “A lot of the travelers, they want something different. They want to move away and find equivalent destinations that haven’t been discovered by that many people.”

United Airlines announced this month it’s expanding international services to Senegal, Greenland and Mongolia next year in a bid to capture travel interest to the next “it” destination.

Patrick Quayle, United’s senior vice president of global network planning and alliances, told reporters that savvy travelers have been to Paris, Rome and Madrid many times over.

“They’re looking for something different,” he said.

But there are other reasons travelers are looking to take the road less traveled, said Expedia Group’s Chief Commercial Officer Greg Schulze.

These destinations tend to be cheaper and more relaxing, Schulze told CNBC Travel.

“The price of travel has increased over these years,” he said. “Detour destinations often are more economical for travelers … they can get a superior experience for less money.”

Lesser-known spots also satisfy travelers’ increasing interest in “authentic” experiences, Schulze said.

Marshall added that travel influencers are driving interest to new places too.

“Trendsetters very often are the ones going to be doing a lot of research, and they’re going to find those alternatives because they feel they need [to],” he said. “Social media amplifies a lot.”

A trend report, published Wednesday by Booking.com, concluded that travelers share a desire to explore less visited locales.

“There will be an increased desire for authentic, off-the-beaten-path experiences,” states the opening line of Booking.com’s “2025 Travel Predictions.”

Some 67% of adult travelers said they want to visit less crowded destinations, according to a Booking.com survey of more than 27,700 respondents from 33 countries and territories.

A separate report from the company, also published Wednesday, listed 10 “trending destinations” where the company is seeing a year-on-year rise in interest:

1. Sanya, China
2. Trieste, Italy
3. Joao Pessoa, Brazil
4. Tromso, Norway
5. Willemstad, Curaçao
6. Tignes, France
7. San Pedro de Atacama, Chile
8. Naha, Okinawa, Japan
9. Villajoyosa, Spain
10. Houston, United States

Expedia declared 2022 the year of the GOAT, or “greatest of all trips.”

But traveler mindsets are changing, it said, with more today embracing JOMO, or the “joy of missing out.”

Marshall said 62% of surveyed travelers say that “JOMO travel” reduces stress and anxiety, and nearly half say it allows them to better reconnect with loved ones.

He noted interest in vacation home rentals near beaches, lakes and in the mountains. Plus, holiday-makers indicate they want amenities that show they plan to spend ample time in the house, from pools and gardens to “porches with a view,” he said.

“You go there with your friends, with your family, far away from the crowds, far away from the busyness,” he said. “And you’re very happy that you miss out on everything else.”

— CNBC’s Leslie Josephs contributed to this report.

Artificial intelligence chip startup Cerebras Systems on Monday filed its prospectus for an initial public offering, with plans to trade under the ticker symbol “CBRS” on the Nasdaq.

Cerebras competes with Nvidia, whose graphics processing units are the industry’s choice for training and running AI models. Cerebras says on its website that its WSE-3 chip comes with more cores and memory than Nvidia’s popular H100. It’s also a physically larger chip. In addition to selling chips, Cerebras offers cloud-based services that rely on its own computing clusters.

Cerebras had a net loss of $66.6 million in the first six months of 2024 on $136.4 million in sales, according to the filing. For the fist six months of 2023, the company had a net loss of $77.8 million and $8.7 million in sales.

For the full year of 2023, Cerebras reported a net loss of $127.2 million on revenue of $78.7 million.

The company reported a net loss of $50.9 million on $69.8 million in revenue in the second quarter, compared with a $26.2 million loss and $5.7 million in revenue in the same period a year earlier.

Operating expenses have increased this year in part because of higher personnel costs to support revenue growth, the company said.

AI chips are a growing and crowded market. Cloud providers Amazon, Google and Microsoft have developed their own AI chips. The company said that Group 42, a UAE-based AI firm that counts Microsoft as an investor, accounted for 83% of Cerebras’s revenue last year.

In addition to Nvidia, Cerebras cites AMD, Intel, Microsoft and Google as competitors, “as well as internally developed custom application-specific integrated circuits and a variety of private companies.”

Taiwan Semiconductor Manufacturing Company makes the Cerebras chips. Cerebrus warned investors that any possible supply chain disruptions may hurt the company.

Cerebras was founded in 2016 and is based in Sunnyvale, California. Andrew Feldman, the startup’s co-founder and CEO, sold server startup SeaMicro to AMD for $355 million in 2012.

The company said in 2021 that it was valued at over $4 billion in a $250 million funding round.In May, G42 committed to purchasing $1.43 billion in orders from Cerebras before March 2025, according to the filing. G42 currently owns under 5% of Cerebras’ Class A shares, and the firm has an option to purchase more depending on how much Cerebras product it buys.

The technology IPO market has generally been sparse in 2024, as higher interest rates pushed investors toward profitable assets. Social media app Reddit went public on the New York Stock Exchange in March, and data management software maker Rubrik followed in April. Earlier this month, the Federal Reserve pushed ahead with its first rate cut since 2020, prompting gains in the tech-heavy Nasdaq Composite index.

Neither Morgan Stanley nor Goldman Sachs, the two leading tech investment banks, are on the deal. Citigroup and Barclays are leading the offering.

The biggest investor in Cerebras is venture firm Foundation Capital, followed by Benchmark and Eclipse Ventures. Alpha Wave, Coatue and Altimeter each own at least 5% as well, according to the filing. Other investors include OpenAI CEO Sam Altman and Sun Microsystems co-founder Andy Bechtolsheim. The only individual who owns 5% or more is Feldman.

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