The new year is here and everyone is setting goals and developing strategies to grow in 2024. We just wrapped up the analysis of our January 2024 survey wave and our data scientists have found some interesting insights. In the following article, we will share an overview of the main trends we detected in our preliminary analysis of the main European markets. Let’s dive in.
Almost half of the travellers will maintain their travel budgets this year
We observe a significant increase (around 4 percentage points) in the number of respondents who plan to maintain a similar travel budget compared to last year. Additionally, there is a decrease (3 percentage points) in the number of travellers intending to reduce their travel budgets, signalling continued recovery in post-pandemic tourism.
European destinations maintain their dominance in the Image Ranking
Italy, Spain and Greece remained the top 3 destinations in the Image Ranking. Portugal improved its performance, jumping from the 5th to the 4th position, and Ireland made it to the last slot of the Top 5 after being relegated to the 7th position in our August 2023 data wave.
Greece, Italy and Ireland lead the Short-Term Demand Ranking
Our Short-Term Demand Ranking tracks the desire to visit destinations within the next 3 years and has seen some interesting changes since our last data wave. Countries like Ireland (from position 7 to 3), United Kingdom (from position 12 to 8), and Germany (from position 11 to 8) saw great improvement in their performance. While Greece and Italy continue to be the top destinations on this ranking, they both saw a slight decrease in their score.
But what about non-European destinations? Japan (16th position) continues to be the most popular one, followed closely by the United States of America (18th position). Also, Australia (21st position) improved its ranking, followed by Canada (23rd position) and Maldives (26th position)
But what about non-European destinations? Japan (16th position) continues to be the most popular one, followed closely by the United States of America (18th position). Also, Australia (21st position) improved its ranking, followed by Canada (23rd position) and Maldives (26th position)
Balkan destinations lead the growth in the Awareness Ranking
Our Awareness ranking tracks how much European travellers know about the tourism offerings of over the 151 destinations in our survey. We noticed extraordinary growth in awareness scores this year for several Balkan destinations such as Slovenia (5.8 percentage points growth), North Macedonia (5.6 percentage points growth), and Montenegro (5 percentage points growth). This can be interpreted as a signal of tourism development in the region. Other destinations like the Faroe Islands (5.7 percentage points growth) and St Lucia (5.2 percentage points growth) have also shown interesting growth.
3 and 4-Star Hotels consolidate their position as the favourite accommodation type
While the accommodation ranking remains relatively stable, 3-4 Star Hotels strengthened their leading position with an almost 3% growth across all travel types. Budget Hotels and Hostels and Staying With Friends maintain their second and third positions in trips outside of Europe, indicating that affordability remains a key consideration for travellers when choosing accommodation.
Travel Catalysts maintain their position with “Visiting small and unique towns” leading the ranking.
In examining factors that drive the desire to travel, “Visiting small and unique towns” retains its top position. The rest of the top 5 ranking is also unchanged, with “Food Experiences” in the second place, “Cultural & Historical Experiences” in the third, “Going to the Beach” in the fourth place and “Nature/Outdoor Experiences” in the fifth position.
Almost 60% of travellers want to travel abroad in 2024
59.3% of European travellers are planning to embark on at least 1 long trip (5 days or more) outside of Europe this year. Most of these trips will be concentrated in the summer months, with August leading the ranking.
Online channels show growth as Inspiration Sources
While “Friends & Family” remain the top source of inspiration for travellers, online channels showed the largest growth in this data wave. Instagram, Search Engines, Travel Company Websites and TikTok led the wave-over-wave growth ranking. With Instagram claiming the 5th position in the Inspiration Sources Ranking, online channels now represent most of the Top 5 Ranking.
The data we've analyzed unveils exciting patterns, from the resilience of European destinations to the emerging awareness of Balkan gems and the evolving preferences of travellers. To stay updated on the latest trends, analyses, and actionable insights, follow us on LinkedIn. Don't miss out on the pulse of the travel industry as we navigate the future together.