Our bi-annual Travel Trends report for summer 2024 is here. What are the current trends affecting global travelers today?
Our comprehensive study surveyed more than 5,400 respondents from France, Germany, the Netherlands, Spain, the UK, the US, and the UAE to bring you the latest insights.
Key themes include polarized travel budgets, changing consumer trends, and increasing sustainability standards.
The biggest takeaway? As travelers’ budgets and needs become more diverse, the travel and tourism industry is now experiencing a ‘boom and bust’ age. Holidaymakers have been making the most of their travel plans in recent years, leading to a holiday boom in the global travel industry. Leisure travel budgets are expected to rise by up to 9 percent in 2024. However, there is growing polarization among travelers that requires industry players to tailor their strategies for different traveler segments within the current landscape. Businesses that adapt to these evolving travel trends will navigate the downturns more successfully.
Read the highlights here:
- Leisure travel budgets are expected to rise by nine percent in 2024. Baby Boomers are the main driving force behind this as they plan to increase their travel expenses by 19 percent.
- Younger generations travel more despite tighter budgets. They are inclined to take international trips three times as often as Baby Boomers and Gen Xers, preferring spontaneous solo trips (85 percent).
- Personalized luxury is the new standard. Affluent holidaymakers are going on trips twice as often as other travelers, seeking unique experiences and reputable brands for tailored holiday experiences.
- Business travel is increasing and going digital. 64 percent of corporate travelers are occasionally extending business trips for leisure stays, indicating the rise of bleisure. Additionally, over 25 percent are booking trips outside of corporate channels and via online travel agencies.
- Sustainability is on everyone’s mind, across all generations. 70 percent favor sustainable holidays and 75 percent are choosing less crowded destinations. Overcrowding is a big concern as travelers worry about the environmental impact of mass tourism.
Interested to learn more? Get all the details in our Travel Trends 2024 report and discover why these trends matter.
