MMGY Global’s Post

The inelasticity of travel is real. Despite higher costs, travelers continue to hit the road. According to MMGY Global's most recent Portrait Series research: - European travelers will spend 32% more on international trips in 2024 - 61% of North Americans have increased their travel budgets. While leisure travelers refuse to let costs prohibit their travel, this trend will impact their travel behaviors. Both European and North American travelers intend to take fewer trips; 82% of North American international travelers hope to squeeze more destinations into a single trip; and interest in big ship cruising is up by 10 percentage points.

🚀 Travel Frequency on the Rise! 🌍✈️ The latest U.S. Travel Trends report unveils a dynamic shift in how often Americans are hitting the road. Since January 2020, the number of people taking only one trip has dropped from 76% to 54% by March 2024. Meanwhile, multi-trip travelers are on the rise: • Two trips: 18% ➡️ 35% • Three or more trips: 6% ➡️ 14% This trend showcases a robust appetite for more frequent adventures and unique experiences. Notably, the Q1 2024 report highlights the booming interest in day tours, reflecting a desire for memorable and diverse travel experiences. 🌟 For travel industry professionals, these insights are invaluable. Understanding these trends helps in tailoring services and marketing strategies to cater to the evolving preferences of travelers. #TravelTrends #BusinessTravel #TravelIndustry #FrequentTravel #DayTours #TravelInsights Sources: 1. U.S. Travel Association 2. BCD Travel Market Report

The evolving travel landscape presents new trends and challenges each year. We sat down with our Chief Operating Officer, Ulla Hefel Böhler, to gain insights into travelers' top concerns and trending destinations for 2024: https://bit.ly/48jB8JB

Members of travel loyalty programs show the highest intent to travel this holiday season, yet affordability remains a major concern for many American travelers. The good news is that loyalty programs can address this with more competitive pricing on key travel offers, both through contracted rates and point redemption opportunities. Dive deeper into this season’s travel patterns in our latest Holiday Travel Trends Report here: https://hubs.ly/Q0274sym0 #holidaytravel #holidaytravel2023 #traveldemand #travelloyalty #loyaltyprograms #loyaltyrewards

How did you spend your Labor Day holiday? Our latest data reveals many Chinese people chose to travel abroad during this 5-day break, with outbound travel bookings nearly doubling YoY. Chinese travelers showed an increasing preference for flexible and immersive travel options, seeking less-trodden paths to explore local culture in depth as well as avoiding the holiday travel crowds.   Our data during this holiday highlights several key trends as follows:   1)   Outbound travel volumes in 2024 show every indication that they will continue to grow 2)   Shift towards independent travel continues as travelers seek individual experiences 3)   Supply increase is providing more access and options 4)   Popular travel destinations remain so, but new names appear as spirit of adventure rises!   For more travel trends, check out the infographic below!   #Fliggy #travel #tourism #LaborDayHoliday 

What’s most important to travel buyers for their travel policy programs this year? BCD surveyed over 200 travel buyers around the globe, and opinions have changed. More than 90% of respondents agree that duty of care, policy compliance and cost control rank at the top – all topics which have gained in importance since 2023. Which priority dropped? Surprise! It’s traveler satisfaction, which fell from a top priority in 2021 to fourth in 2024. Find out more about what’s driving travel buyers as they think about challenges, trends and traveler engagement in their corporate travel programs. ➡️ https://ow.ly/YWa250SnbwH #BusinessTravel #TravelManagement #TravelPolicy #DutyofCare #Benchmark

Often overlooked as a key #sustainability facet, crowd management and visitor volume control has become vital in the current conservation and green development conversations 🌎 Analyst Madeline List dives deep into the impact of #overtourism, #climatechange and other factors on trip decision making in #Phocuswright's latest #research. 💡 Get access to the full #data report now: https://bit.ly/478dUFU

Will travelers choose a destination just because it's famous? Our research indicates, probably not. - Across U.S. and Europe markets, only 8-23% chose their last trip destination because it was famous (Italy was the outlier most likely to choose places for fame) - 36-45% of travelers describe themselves as people who seek destinations off the beaten path - 48-51% say they would rather stay in a lesser known area if it helps them avoid crowds (follow through is inconsistent) I think the challenge with managing #overtourism for famous places is a more humbling one. We're not dealing with a traveler population obsessed with status and clout for visiting famous sites. But there are so many destinations to choose from, and travel is a big ticket purchase. People feel more comfortable choosing places they're familiar with and excited about than taking a risk on the road less-traveled. Travel companies are finding crafty ways of dealing with that. This is a really interesting clip of Hazel McGuire at Phocuswright Europe explaining Intrepid Travel's approach of diversifying itineraries between famous and non-famous spots, and creating some great customer experiences in the process. This was such an interesting topic to research and write about. Overtourism and dispersal research is available now for Phocuswright open access subscribers and a la carte purchase: https://lnkd.in/eUQh7iDe

North America is an important market when it comes to tourism. Wondering what North American travelers are looking to book in the year ahead to maximize opportunities with travel insights? Booking.com surveyed North American travelers and discovered key insights to help partners maximize their opportunities. Here are some highlights: -North Americans say they’re most likely to take a short domestic trip (one to four nights) more than any other type of trip, with two-thirds (66%) indicating this in their plans. -In second place, almost half of North American travelers (49%) say they’ll take a longer domestic trip (five or more nights), with 54% preferring to travel domestically. For more insights, visit the link.

International Travel and Tourism In the ever-evolving world of international travel, staying updated on recent changes is crucial for both travelers and industry professionals. Recent news highlights several key updates that could impact your travel plans and operations: New Travel Trends: There’s a growing trend towards more sustainable travel options, with airlines and travel companies introducing eco-friendly practices and initiatives. Regulatory Changes: Various countries are updating their travel regulations to simplify entry processes and enhance traveler experiences. These changes may affect booking procedures and travel documentation requirements. Technology Integration: Advances in travel technology are making it easier to navigate the complexities of international travel, from improved booking systems to innovative digital tools for managing travel plans. For the latest and most relevant updates, keep an eye on industry news sources and official travel advisories. How are these recent changes impacting your travel plans or business strategies? Share your thoughts and experiences! #TravelUpdate #InternationalTravel #TravelNews #TravelTrends #IndustryInsights