If we learned anything from cyber week performance or 2024 predictions, it is that more and more consumers are shifting their spending from shopping to experiences. Mastercard’s 2023 Travel Industry Trends report outlined that spending on experiences has increased by 65% from 2019 to 2023.
Travel companies have an unprecedented opportunity to take advantage of this surge in interest. Expedia released their Unpack ‘24 - The Trends in Travel report that predicts where, when, and how consumers are expected to spend their money on travel this year. Here is a preview of all things travel in 2024 so you can meet consumers where they are:
✈️Set-Jetting - From Thailand featured in The White Lotus, season 3 to My Big Fat Greek Wedding 3 being set in Greece, people are expected to plan trips inspired by TV shows and movies.
✈️Destination Dupes - “Dupes” are going viral on TikTok right now, and that extends to users sharing cheaper alternatives to traditional expensive vacations. From swapping Nashville for Memphis or Liverpool for London, consumers are adjusting their travel plans to factor in affordability.
✈️Tour Tourism - We all know how Taylor Swift has swept the world this year, with her fans traveling from venue to venue to see her perform. More consumers are making trips out of seeing their favorite performer go on tour, with cities seeing an overall uptick in tourism aligning with big performances.
✈️Detox Trip - With an anticipated increase in wellness-related purchases in 2024, travel will likely follow the same trend. Travelers are likely to book a healthful experience, with destinations offering non-alcoholic options, spa experiences, or active excursions.
✈️Vibe Check-In - Consumers are searching for accommodations by their vibe. People are searching with terms like “authentic”, “retro”, and “cozy” to set the tone for their stays.
✈️Go-ccasions - Travelers are looking for any reason to get away and will book trips as an excuse to celebrate anything from a “first-date-iversary” to a “puppymoon”.
✈️Outside In - From a quaint farm with acres of property to a mountain home with a hot tub, consumers have an increased interest in accommodations with outdoor amenities - especially vacation homes.
To read Expedia’s full report, check out the link here.
