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American Express 2024 Reports Insights into Evolving Global Travel Markets
American Express 2024 Reports Insights into Evolving Global Travel Markets
Wednesday, March 13, 2024
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Today, the 2024 Global Travel Trends Report by American Express Travel was unveiled, shedding light on the inspirations and trends steering global travel bookings this year.
Drawing from survey responses across the United States, Australia, Canada, India, Japan, Mexico, and the United Kingdom, the report revealed that 84% of participants intend to either maintain or increase their travel expenditure in 2024 compared to the previous year. Furthermore, 77% of respondents prioritize the quality of their travel experiences over cost considerations.
The report identified four key trends shaping booking decisions:
- Passion-Driven Travel: Sports enthusiasts are organizing trips around athletic events, whether it involves their favorite sport, supporting their beloved team, or attending international multi-sport competitions.
- Pursuing Grand Adventures: Embracing major, expedition-style adventures such as visiting the Galapagos Islands or trekking with gorillas, which promise transformative experiences sought by modern travelers.
- Embracing Solo Exploration: More travelers are opting for solo trips, attracted by the simplicity of planning and the freedom to customize itineraries according to their preferences.
- Spontaneous Getaways: In a world marked by structured routines, people are craving flexibility in their travel plans, leaving space for spontaneity and unplanned experiences.
“Travelers are focused on creating the right itineraries and building memories, whether that means booking a trip to see a favorite sports team compete or taking a once-in-a-lifetime expedition cruise,” says Audrey Hendley, President of American Express Travel. “Our Global Travel Trends Report sheds light on what is driving global travel bookings and provides inspiration for where to go next. Our American Express Travel Consultants can help, no matter what type of trip you want to take.”
Key findings from American Express Travel’s 2024 Global Travel Trends Report reveal:
- Live sporting events, driven by the desire to witness favorite teams and players firsthand, heavily influence travelers’ destination choices and activities.
- 67% of Millennials and Gen Z respondents (versus 58% of all participants) express interest in attending sporting events in 2024.
- Soccer, basketball, and Formula 1 racing are the top choices for 58% of respondents planning sports-related travel in 2024.
- New York, Miami, and Paris emerge as the top destinations for sporting events this summer, according to respondents’ plans.
- Transformative journeys such as visiting the Galapagos Islands or exploring Antarctica rank high on many travelers’ wish lists, with younger travelers seeking expert assistance in planning.
- 65% of respondents show increased interest in major trips in 2024 compared to previous years.
- Prioritizing savings for major trips over social outings resonates with 72% of respondents, with over half planning to save for 6 months to 2 years.
- 58% of Millennials and Gen Z express a preference for using travel agents or trusted advisors to plan major trips this year.
- Multicountry visits within a region appeal to 55% of respondents planning major trips.
- The ease of personalized planning drives the inclination toward solo travel, particularly among younger demographics.
- 76% of Millennials and Gen Z intend to embark on solo trips in 2024, with 66% planning indulgent, self-tailored experiences.
- Both genders show interest in solo travel, with 74% of males and 63% of females planning solo trips in 2024.
- 60% of solo travelers aim to take multiple solo trips this year.
- Embracing flexibility in itineraries, travelers prioritize spontaneity and local cultural experiences.
- 78% of respondents find appeal in spontaneous trips, with Millennials and Gen Z leading in last-minute bookings.
- Leaving unplanned time to immerse in local culture resonates with 68% of respondents.
- A preference for booking last-minute getaways to nearby destinations over distant ones is expressed by 57% of respondents.
In 2024, as the demand for travel remains strong, American Express offers eligible Card Members access to exceptional travel privileges and experiences. This includes access to over 1,400 airport lounges through its Global Lounge Collection®, expert Travel Consultants capable of crafting dream itineraries for various types of trips, from major expeditions like cruises or safaris to quick weekend getaways. Additionally, Card Members can benefit from restaurant reservations facilitated by Resy and curated dining guides available at Resy.com/Travel. American Express provides exclusive benefits across global sporting events and venues, as well as perks at over 2,000 carefully selected hotels worldwide through Fine Hotels + Resorts® and The Hotel Collection. Furthermore, Card Members can choose from a selection of over 1,000 premium vacation rental properties through Select Homes + RetreatsTM, among other offerings.
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