Research Briefing | Feb 27, 2024

Leisure travel expected to continue outperforming amid signs of more even tourism growth

According to findings from Tourism Economics’ latest Travel Industry Monitor (TIM), which tracks the views of tourism professionals every quarter, leisure tourism is expected to continue to spearhead global travel growth in 2024, especially for domestic and short-haul destinations.

What you will learn:

  • Overall, the results reveal a more uniform growth trajectory for different forms of travel in 2024 compared with recent years, as the industry has transitioned in the wake of COVID-19.
  • However, cost-of-living, and inflationary pressures are influencing consumers. Nearly 90% of respondents agreed that value for money will be a key consideration for travel purchases in 2024.
  • Meanwhile, opportunities still exist in the industry to service increasing demand for luxurious experiences as nearly two-thirds agreed that the trend of affordable luxury will remain important this year.
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