Tourists now book trips earlier, spending more: expert research
A global survey conducted by Sabre Corporation reveals interesting trends in travel planning for 2024. According to the study, travelers are showing new confidence, booking their trips much earlier than before, and are considering increasing their vacation budgets.
The data shows that travelers are booking flights at least three months in advance, a clear departure from past trends. Interestingly, this trend differs from business travelers, where most bookings are still made two to four weeks before the trip. This is reported by news.gtp.gr.
Financially, the study found "cautious optimism" among travelers. About 90 percent of respondents plan to spend the same amount on travel as in 2023, but a significant 40.7 percent expect to increase their travel budget, especially among Generation Z travelers.
"This is indicative of the growing enthusiasm for travel in the post-pandemic world, coupled with a desire for a richer experience," Sabre said.
In terms of amenities and services, the priorities of leisure and business travelers continue to diverge.
The study shows that business travelers prefer efficiency and minimalism, often opting for lightweight travel without checked baggage. On the contrary, leisure travelers pay more attention to in-flight meals and comfort, with seat selection being a common priority for both groups.
Sabre also emphasizes that leisure travelers tend to invest more in travel accessories than their business counterparts, who primarily focus on seat selection.
At the same time, Generation Z is most concerned about the risk of luggage loss or theft, likely influenced by the number of incidents after the pandemic and increased awareness of these issues.
Other findings of the report:
- Sustainability is becoming a priority, with all respondents expressing a willingness to pay up to 5% more for eco-friendly travel options.
- Couples travel is on the rise in 2024, likely due to a desire for more personalized and intimate travel experiences.
- Traveling with children under 12 is much more popular in Europe and the Middle East compared to other parts of the world.
According to Sabre, the evolving trends are "creating challenges" for the travel industry, particularly in managing content fragmentation to better meet customer needs.
Andreas Sirigos, regional senior director of Sabre Travel Solutions for Southern Europe and the Nordics, emphasizes the importance of addressing these challenges: "By leveraging Sabre's global data services, travel agencies and hotels can take these trends into account and adapt their offerings accordingly. This strategic approach is essential to keep pace with the dynamic preferences of today's travelers and ensure that the travel industry continues to respond to market demands."