3 major travel trends disrupting the travel industry in 2024 | New Orleans CityBusiness

According to a 2024 study by American Express, 84% of respondents plan to maintain or increase their travel spending compared to last year, with 77% prioritizing the right travel experience over trip costs.

Travel planning traditionally revolved around family and structured itineraries, but recent trends show a shift towards individualized experiences and spontaneous travel.

This is driven by a desire for authenticity and immersion in local cultures. Travelers increasingly seek out unique activities and off-the-beaten-path destinations.

How Different Generations View Spending on Travel

Each generation, from millennials to baby boomers, offers unique perspectives on allocating resources for leisure experiences. These varied attitudes provide valuable insight into the shifting dynamics within the travel industry and consumer behavior.

About 79% of millennials and Gen Z prioritize the right travel experience over trip costs, compared to 75% of Gen X and 72% of baby boomers.

Millennials and Gen Z are also willing to sacrifice daily expenses to fund their travels — 71% opt to forego luxuries like coffee and food delivery, compared to 64% of Gen X and 56% of baby boomers.

There is a notable generational gap among those seeking assistance from travel advisors or trusted agents; 57% of younger generations desire this support compared to 47% of Gen X and 38% of baby boomers.

The study shows significant variations in generations’ travel preferences — the type of travel experiences they seek, reflecting varying priorities, interests, and lifestyle preferences.

Love for the Game Is a Driving Factor

Fans are planning trips around athletic events, not just to support their home team but to follow their favorite sports or international competitions. They are willing to travel to watch and experience these events live as their passion for sports influences their travel plans.

Nearly 75% of respondents worldwide enjoy sports, and around 71% identify as avid or casual fans. Despite the convenience of watching from home, 37% plan to travel for sports this year. Of those, 38% will travel six hours or more.

In 2024, 67% of millennials and Gen-Z are interested in traveling for sporting events, with 58% of these sports travelers focusing on soccer, basketball, or Formula 1 racing.

Fans’ primary travel motivations highlight live sports’ emotional and experiential pull — the thrill of watching their favorite sports team play live, the opportunity to be part of major sports or cultural events, and a chance to see their favorite athletes in action.

Fans’ top sports travel destinations are New York City (30%), Miami (27%), London (26%), Las Vegas (25%), and Paris (25%).

Increasing Want For “Major” Trips

Consumers show increased interest in “major” trips. These journeys, often marking significant occasions or fulfilling long-held travel aspirations, often involve expedition-style adventures like exploring the Galapagos Islands or trekking with gorillas. Such transformative experiences are widely shared on social media, contributing to their popularity.

“These trips allow travelers to experience ancient, otherworldly, hard-to-reach landscapes, and stunning wildlife, and inspiring local cultures, illustrating how luxury expedition cruising allows travelers to explore remote destinations and create memories to last a lifetime,” says Steve Smotrys, Seaborn Cruise Line’s Vice President of Global Sales & Trade Relations.

Similarly, Jen Barnett of Expatsi says, “I took a trip to Napa Valley for my 50th birthday and had dinner at the French Laundry. It was a big bucket list item for me, and all of our international travel plans had gotten canceled due to COVID. It was the perfect way to spend the milestone, and the restaurant surprised me with an engraved bottle of champagne that we just enjoyed to celebrate our move to Mexico.”

Personally, last year, I planned a trip to Kazakhstan and Uzbekistan to celebrate a milestone in my life and mark it with a long-held travel plan.

More millennials and Gen Z are interested (28%) in destinations like Antarctica, Alaska, and The Galapagos, compared to 27% of Gen Xers and 24% of baby boomers. Around 31% of millennials and Gen Zers show interest in adventure travel activities such as hiking Mt. Kilimanjaro, safaris, and trekking with gorillas, in contrast to 19% of Gen X and 12% of baby boomers.

29% of millennials and Gen Zers express interest in wellness retreats, compared to 24% among Gen X and 19% among baby boomers. Fifty-eight percent of millennials and Gen Z would explore multiple countries within a region, while 53% of Gen Xers and 48% of baby boomers would.

Karee Blunt of Our Woven Journey says, “My husband and I are going on a cruise to Alaska in August. It’s our 50th state to visit and we wanted to do something special to celebrate it, so we’re doing an excursion cruise for 7 days.”

Going Solo

Solo travel grows in popularity as travelers seek self-discovery, independence, freedom, and flexibility. Independent travel promises deep relaxation, personal growth opportunities, and the chance to meet new people.

66% of respondents planning solo travel are treating themselves and centering self-love. Independent travelers are exploring new cities or unwinding on beaches and islands, indicating a preference for urban adventures or seaside retreats.

Chantelle of Flannels and FlipFlops says, “I just got back from a solo trip to York, England. I decided to go solo because I like to have time by myself. I love the feeling of accomplishment I get from navigating new cities and countries by myself, and I love stepping away from my life for a bit sometimes and just being my own company.”

On a Whim

In today’s structured world, people crave flexibility, spontaneity, and discovery in their travel plans, increasing the number of last-minute bookings, one-way tickets, and other options that leave room for unexpected adventures.

Travelers’ desire to break away from rigid schedules and embrace the unknown opens opportunities for memorable and unique travel experiences.

68% of respondents enjoy leaving unplanned time during their trips to immerse themselves in local culture and activities. A majority of Millennials and Gen Zers (77%) have booked last-minute trips, compared to 65% of Gen Xers and 52% of baby boomers.

Nicole Tommasulo, founder of savor + roam, says “My fiancé and I went on an impromptu weekend trip to New York City last month. The weather in Boston had been gray and rainy for weeks and we were dying for some sunshine. So, we checked the weather of places within a 6 hour drive from us and picked the sunniest destination.”

This year, tired of all the daily life problems, my husband and I planned an extensive 10-day trip to Nepal.

What’s Next?

Travelers prefer individualized experiences, adventure, and spontaneity, especially millennials and Gen Zers. Younger travelers increasingly prioritize unique experiences over costs, show a strong interest in wellness retreats and multi-country trips, and are willing to sacrifice daily luxuries to fund their adventures.

The travel industry should focus on offering personalized and flexible travel options that cater to these evolving preferences. Emphasizing authentic local experiences, supporting spontaneous travel, and providing advisory services tailored to younger generations will be key to meeting the demands of today’s travelers.

This article was produced by Media Decision and syndicated by Wealth of Geeks.