(AP) – 2024 is already shattering American travel records and shows no signs of stopping.
The Mastercard Economics Institute identifies several significant trends and statistical projections in its fifth annual travel report. Using credit and debit card transaction data, it reveals roughly 15.9 million Americans traveled internationally in the first quarter of 2024.
This massive surge among Americans results from increasingly prevalent travel trends and habits.
7 Travel Trends To Watch For
Expect these seven emerging trends to rise in popularity throughout the travel industry this year:
Longer Trips
Mastercard’s report says travelers in 2024 typically spend one extra day on vacation compared to pre-COVID numbers. This statistic correlates directly with lodging expenses, as tourists are likelier to stay longer when a destination is affordable. According to the Institute, Middle Eastern and European locations benefit most from this trend, with an average of two extra days spent there in 2024.
Wallet-Friendly Destinations
Inflation and rising travel costs make vacationing on a budget challenging, with affordability dictating where and how long Americans vacation. Deloitte says Americans’ summer travel budgets are up 18% from 2023. However, Squaremouth reports that 2024’s average international trip, like Greece or Norway, is more than $10,000.
As a result, tourists seek wallet-friendly getaways. Squaremouth suggests visiting Bermuda or Mexico, with average trip costs of under $5,000.
Event Travel
2024 is the year of event-related travel. The industry trend emerged ahead of April’s total solar eclipse. Navan estimates that hotel, rental car, and flight bookings surged three times the average during eclipse week.
From sports fans to music lovers, Americans are more willing than ever to jet off for a one-time occasion. An American Express survey says 37% of respondents plan to travel for an athletic event this year. Meanwhile, the Associated Press reveals Americans account for 20% of 2024 ticket sales for Taylor Swift’s four sold-out Paris performances.
“We’re one of the many Swifties who planned our summer vacation around a European Eras Tour concert,” says Monica Fish, a frequent traveler. “After securing tickets to one of the Dublin shows, we booked an epic two-week adventure to explore the country and experience this once-in-a-lifetime show.”
Cruises
Cruise vacations are making a comeback in 2024. The Cruise Lines International Association reports 31.7 million passengers in 2023, a 7% increase from 2019.
While passenger numbers tanked in 2020-21 due to COVID-19, cruises are experiencing a strong resurgence. Statista estimates that the U.S. cruise industry will increase by over 13% between 2024 and 2028, reaching a peak of $17.2 billion.
Experience-Driven Vacations
Lazy vacations may be a trend of the past. American travelers seek exciting and engaging activities to fill their holiday time. Airbnb shares searches in its Play category have doubled in 2024, signaling a shift to nontraditional activities and amenities.
“This summer, I’m taking my family to Palmaïa – The House of AïA, an all-inclusive health and wellness resort in Tulum,” says Alex Caspero, food and travel writer at Delish Knowledge. “The dining program is planet-friendly, with everything being healthy, fresh, seasonal, and organic alongside their offerings of yoga, sound healing, snorkeling, and water sports.”
Luxury Tourism
High-end getaways are leading the pack among 2024 travel trends. Grand View Research projects an 8.1% growth rate in the U.S. luxury travel market from 2024 to 2030.
Luxury shoppers flock to destinations such as Japan and the United Arab Emirates to buy coveted luxury items such as Hermes bracelets and Gucci tights. Some designer brands are capitalizing on their customer base with curated travel experiences, such as the 5-star Palazzo Versace Dubai hotel.
Demand for upscale accommodations has increased as Americans embrace post-pandemic digital nomad lifestyles. A Research and Markets study found that luxury hotel revenue in the U.S. was 24% higher in 2023 than in 2022.
Warm-Weather Escapes
American tourists are packing their carry-ons with swimsuits and flip-flops, leaving the cold behind in favor of hot destinations. Forbes reports that, in 2024, 36% of U.S. travelers plan to visit a beach.
Furthermore, search data shows four of Hilton’s top five most-searched summer travel destinations are warm locales. These vacation spots include Hawaii, Florida, Mexico, and South Carolina.
This article was produced by Media Decision and syndicated by Wealth of Geeks.