In promising news for
the travel industry, a recent study by MMGY Travel Intelligence indicates a
surge in travel intentions among Americans for the year 2024. According to the
latest edition of the ＆Portrait of American Travelers＊ study, a staggering 76
percent of U.S. adults plan to embark on a vacation within the next 12 months.
This marks a significant uptick from the 70 percent reported during the same
period last year. Moreover, the study highlights that nearly two-thirds (64
percent) of these eager travelers intend to hit the road within the next six
months, a substantial increase from the 58 percent reported back in October
2023.
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Despite inflationary
pressures, MMGY Travel Intelligence＊s Traveler Sentiment Index (TSI) paints a
positive outlook for the coming year, with a slight but encouraging increase
from 109 to 113 since February 2023. This upward trend reflects a growing
optimism about both domestic and international travel, despite a rise in safety
apprehensions when it comes to international trips.
"Despite
travelers reporting increased safety concerns for international travel, overall
interest and intent to travel continue to rise," said Chris Davidson,
Executive Vice President of MMGY Travel Intelligence. "Travelers are
continuing to prioritize spending on experiences, and peoples＊ travel decisions
are increasingly affected by values such as commitments to environmental
sustainability."
Among the key
findings from the Spring Edition of the Portrait of American Travelers study
are several noteworthy trends:
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- There
has been a slight decrease in the proportion of travelers deeming international
trips to be safe (down from 52 percent to 48 percent compared to last year).
-
Despite
the challenges posed by rising costs, including inflation and gas prices, these
factors are exerting a lesser impact on people's travel plans compared with
October 2023.
-
Millennials
and high-income households are leading the surge in travel spending intentions,
reaching levels not seen since before the onset of the COVID-19 pandemic.
-
States
like Hawaii (67 percent), Florida (66 percent), California (57 percent) and
Colorado (56 percent) are capturing the most significant interest among leisure
travelers, with cities like Las Vegas (59 percent), Maui (58 percent) and
Honolulu (58 percent) emerging as top destinations.
-
Sustainability
considerations are increasingly influencing travel decisions, with 56 percent
of respondents expressing willingness to pay more to support environmentally
responsible providers, a trend particularly prominent among Gen Z and
Millennial travelers.
-
The
study also highlights the growing use of AI tools, as 30 percent of active
leisure travelers reported they＊ve used AI tools in travel planning〞a trend
that＊s especially prominent among younger demographics.
In addition to
shedding light on prevailing trends in traveler preferences and spending
behaviors, the Spring Edition of the Portrait of American Travelers study also
reveals new insights about sustainability in travel, accommodations, sources of
travel-planning information and international travel intentions. To purchase a
copy of the full study, you can visit mmgyintel.com.
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