As we release the August 2024 Data Wave, it’s clear that European travellers are evolving in their preferences, budgets, and behaviours. This year, we’ve identified some key shifts that are shaping the travel industry, from increased budgets to a growing preference for experiential holidays. In this article you will find key year-over-year (YoY) trends, based on the insights from or latest data wave.
Key Insights from the August 2024 Data Wave
1- Increased Travel Budget in 2024
European travellers are showing more financial confidence this year. A higher percentage (5.8 percentage points) reported that their holiday budget remains consistent with last year, while 1.5 percentage points more travelers reported an increased budget. Notably, there’s been a 7.3 pp drop in those who feel their holiday budget is smaller than in 2023. This indicates a more optimistic outlook for travel spending.
2- Audiovisual Online Inspiration Sources Continue to Grow
Traditional sources of travel inspiration may still hold their place, but audiovisual content on social platforms is on the rise. TikTok leads with a 4.5 pp growth, followed by Instagram (3.1 pp) and YouTube (1.3 pp). This shift towards engaging, visual platforms underscores the need for destinations and brands to develop immersive content strategies.
3- More Travellers Are Interested in Experience Holidays
European travellers are increasingly driven by unique experiences. Categories like "Agenda of Sports Events" (2.7 pp growth), "Possibility of a Spiritual Experience" (2.4 pp growth), and "Agenda of Festivals, Concerts, and Events" (1.8 pp growth) are rising in popularity. This signals a growing demand for travel that offers cultural, emotional, or recreational depth.
4- European Travellers Prefer Booking Directly on Providers' Websites
When booking their holidays, 52.9% of European travellers prefer to go directly to providers' websites, especially for domestic trips. However, for international trips outside Europe, 46.15% lean towards using online travel agency (OTA) websites. This trend reflects the growing trust in direct booking while still recognizing the value of OTAs for global travel.
5- Privacy in Accommodation Choices Is Increasingly Important
Privacy has become a key factor in accommodation selection for European travellers. Private rentals like Airbnb and Homeaway saw a 5.3 pp growth, while "My own private home at the destination" grew by 3.5 pp. This reflects a broader shift towards more secluded, personalized stays over traditional hotel experiences.
6- Active Holidays on the Rise
There’s a notable surge in demand for active holidays. "Mountain and wilderness holidays" saw a 7.6 pp increase, while "Other active holidays (climbing, riding, surfing, etc.)" grew by 6.3 pp, and "Hiking/trekking holidays" increased by 6 pp. This shift highlights the growing desire for outdoor and adventure-driven travel experiences.
7- Awareness Ranking
8- Short Term Demand Ranking
The August 2024 Data Wave offers critical insights for those working in the travel industry, helping you adapt to evolving traveller preferences. From budgeting trends to the rise in experience-driven travel, these insights can guide your strategy to better cater to European travellers' demands.
Interested in exploring more? Create your free user on Travellyze today and stay updated with the latest travel insights. Also, don’t forget to follow us on LinkedIn for regular data snippets and trends!
Interested in exploring more? Create your free user on Travellyze today and stay updated with the latest travel insights. Also, don’t forget to follow us on LinkedIn for regular data snippets and trends!