This is shaping up to be another monumental year for travel, and already some significant trends are emerging.
American Express Travel recently released its 2024 Global Travel Trends Report, revealing that 84 percent of respondents are planning to spend more or the same amount of money on travel in 2024 compared to last year.
What’s more, 77 percent care more about having the right travel experience than about the cost of the trip.
As far as what’s driving the continued surge in travel demand, American Express Travel identified four notable trends.
- Traveling for sporting events
Travelers are excited to see their favorite sports in person this year. According to American Express Travel, 67 percent of millennial and Gen-Z respondents are interested in traveling for sporting events in 2024, compared to 58 percent of all respondents.
Three-quarters of respondents who plan to travel to a sporting event in 2024 will spend at least three hours getting there and most (58 percent) will be traveling for soccer, basketball or Formula 1 racing.
The top cities for sports travel this summer are New York (30 percent), Miami (27 percent), London (26 percent), Las Vegas (25 percent) and Paris (25 percent).
More than seven out of 10 respondents (72 percent) said they would rather save money for a major trip than spend it on going out, and 65 percent are more interested in taking a major trip in 2024 compared to previous years.
Perhaps surprisingly, younger travelers are more interested in working with a travel adviser to plan and book their trip, with 58 percent of millennial and Gen-Z respondents seeking a trusted travel professional compared to 52 percent of all respondents.
More than two-thirds of travelers (69 percent) are planning on taking a solo trip in 2024, including 76 percent of millennials and Gen-Zers.
American Express Travel also found that 66 percent of respondents planning on traveling solo are planning a trip centered around self-love and treating themselves and 60 percent of respondents planning on traveling solo this year intend to take two or more solo trips.
Nearly eight out of 10 travelers (78 percent) indicated that spontaneous trips appeal to them and a sizable 68 percent of respondents agree that they like to leave unplanned time in their trip to experience local culture.
The study found that millennials and Gen-Z travelers are more likely to book a last-minute trip, with 77 percent having done so before compared to 65 percent of Gen-X and 52 percent of baby boomers.
“People are traveling to make memories in 2024. While everyone’s motivation for booking a trip is unique —whether it’s taking a solo getaway to recharge or embarking on an expedition cruise or safari — the trips that are trending are sure to be transformative, and our American Express Travel Consultants are here to build dream itineraries and help every step of the way,” said American Express Travel President Audrey Hendley.
