While today’s top travel brands may not have a crystal ball to prophesize the future, we have enough reliable data to predict emerging travel industry trends. When combing through recent consumer booking insights, international and domestic tourism reports, and survey answers from thousands of travelers, a clear picture of 2024 travel has begun to take shape.
So, what are the top travel trends for 2024? Better yet, what steps are top travel brands taking to remain relevant and raise revenue for the remainder of the year? Without further ado, the verdict is in, and the predictions are out. Keep reading to learn the top travel brand predictions for 2024, complete with tips from leading travel brands, arrivia, Booking Holdings, and TripAdvisor.
Top Travel Brands to Monitor
The combined travel and hospitality industry brought in nearly $7 trillion (yes, trillion) in 2023, with the global hospitality market reaching approximately $4.7 trillion and the global tourism market size increasing by almost 14% to reach $2.3 trillion. Dozens of brands — from individual service providers to travel rewards providers — have made this tremendous rebound possible.
Three top travel brands, in particular, have kept a finger on the pulse of emerging travel industry trends for 2024:
Booking Holdings is the parent company of popular online travel agencies (OTAs), such as Booking.com, Priceline, and Kayak, enabling the brand to accumulate vast data on travel trends. Booking Holdings’ platforms are leveraged by both leisure and business travelers, providing insights into booking patterns and preferences for diverse demographics.
Arrivia is the world’s largest stand-alone travel loyalty provider, with the most competitive inventory globally. Originally founded in 1997, arrivia has powered travel loyalty and rewards programs for some of the world’s most respected cruise, hotel, resort, and financial brands for nearly 30 years, including American Express®, USAA®, and Marriott Vacation Club®.
TripAdvisor is a well-established platform for user reviews and recommendations, now an indispensable tool for modern travelers. TripAdvisor aggregates feedback from millions of fellow travelers, offering realistic insights into popular tourism destinations, accommodations, and activities. The platform’s influence is rooted in its community-driven approach.
Top Travel Brand Predictions
So, what are the latest predictions for corporate and leisure travel? What technologies will shape the travel industry in 2024? You’ve come to the right place to find out! Here are the travel industry trends for 2024, as told by today’s top travel brands.
Booking Holdings 2024 Predictions
While the folks at Booking Holdings are already knee-deep in travel data, one of the brand’s most popular subsidiaries, Booking.com, recently ran a global study involving 27,000 travelers to gain direct consumer insights. The study found that over one-third of travelers (36%) are eager for water-centric getaways, with 75% of travelers finding “instant relaxation by the water’s edge.”
In terms of water-centric getaways, cruises continue to lead the pack, though various wellness retreats have also begun to gain traction among travelers. 58% of travelers express interest in a sleep-focused retreat, and 20% are more curious about health retreats, particularly as an optimal work-life balance overtakes many other corporate travel trends.
Arrivia 2024 Predictions
Arrivia conducts an annual Travel Loyalty Outlook report involving more than 2,200 consumers and 100 loyalty program professionals in the U.S. This year, many of our findings echoed Booking Holdings’ travel trends for 2024. While Booking Holdings found that over one-third of travelers seek water vacations, we discovered that 25% of consumers already planned a cruise for 2024.
We’ve also learned that nearly four in 10 consumers rank “value for money” as their top priority when planning a trip.
So, it’s no surprise that “destination dupes” have also skyrocketed in popularity. Our friends at American Express Travel found that opting for destinations like Porto Cervo, Italy, instead of the Amalfi Coast or Zermatt, Switzerland, in place of Dolomites allows travelers to “uncover hidden gems and new experiences,” with tons of value, but at a more affordable price point.
TripAdvisor 2024 Predictions
As one of the world’s top travel brands, TripAdvisor can be just as informative for travel and hospitality service providers as it is for travelers. The company recently revealed its travel industry trends for 2024, from top trending destinations to cultural destinations and sustainable destinations consumers are interested in, as well as predictions for travel plans.
A whopping 45% of consumers are planning three or more trips for 2024 and 46% will take at least one international trip. Of trending global destinations, eight of the top ten are in Asia, including Tokyo, Japan; Seoul, South Korea; and Halong Bay, Vietnam, which occupy spots one through three. Sustainable tourism is also rising, with Copenhagen, Denmark occupying the top spot.
How Businesses Can Benefit from the Predictions of Top Travel Brands
At arrivia, we pride ourselves on remaining up-to-date with emerging travel technologies, innovative itineraries, and evolving consumer preferences. While this knowledge is integral to maintaining our stance as a top travel brand, it’s also essential to maximizing traveler experiences. Look at how we apply industry predictions in our operations for maximum impact.
Aligning Services with Consumer Preferences
Travel industry trends for 2024 are indicative of current consumer preferences. Therefore, each travel brand must understand how its audience’s unique preferences are changing. For instance, if there’s a rising interest in sustainable and eco-friendly travel akin to what TravelAdvisor is seeing, it’s wise for brands to adjust their services to align with these values. By offering services that resonate with current trends, businesses can attract a broader customer base and enhance customer loyalty.
Improving the Overall Customer Experience
Travel destinations are only half the battle when enhancing the customer experience. As per the recent Travel Loyalty Outlook, consumers seek more value and enhanced service in exchange for spending dollars. So, it’s vital to monitor your customers’ preferences for trends like mobile bookings or contactless check-ins, then invest in technology to streamline these processes. A seamless and up-to-date experience can increase customer satisfaction, positive reviews, and repeat business.
Embracing Strategic Partnerships within Travel
So, how can businesses prepare for the future of corporate travel and leisure vacations? The answer is with strategic partnerships. At a time when travelers consider “value for money” the most important factor for a trip, sage travel businesses have begun exploring partnerships with local tour operators and activity providers to create unique itinerary bundles. Strategic partnerships can enhance the value proposition for customers, differentiate the business, and open up new revenue streams.
Discover Why Top Travel Brands Trust arrivia to Stay Current
The travel and tourism industry has experienced a rebound that’s been nothing short of epic, with travel and hospitality businesses welcoming billions of consumers from around the globe. As more travelers set sail or take to the skies in the coming months, a variety of travel industry trends have emerged for 2024. At the forefront of the evolving travel landscape are the experts at arrivia.
For over two decades, arrivia has remained a top travel brand for flexible loyalty rewards, incredible itineraries, and white label booking technology. Learn more about our platform to discover how to stay ahead of industry trends in 2024.
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