European travellers confident about spending power

Europeans are confident about their journey spending power in 2024 regardless of the continued price of dwelling stress throughout the continent, in response to a brand new report from Accor.

The report, based mostly on analysis1 carried out amongst 8,000 travellers from throughout seven European nations, reveals that over half (54%) consider they may have more cash to spend on journey in 2024 than they did in 2023, in comparison with simply 11% who say they’ll have much less to spend.

Those in Poland had been essentially the most confident about their journey spending power this 12 months in comparison with final, with 64% anticipating an elevated finances in comparison with simply 7% anticipating a lower. Those in Germany had been the second most confident (61% versus 13%), and even in Italy, the least confident of the seven nations, there have been virtually 4 occasions as many travellers anticipating elevated budgets (44%) as these anticipating decreased budgets (12%).

The variety of abroad leisure journeys folks anticipate to take is barely up over the quantity they took final 12 months, and worldwide “workation” or “bleisure” journeys – that’s, journeys that mix each enterprise and leisure – may even see a rise. With working patterns more and more versatile and employers ever-more keen to allow higher latitude round their staff’ work journeys, a noteworthy one in 5 European travellers (19%) expects to take at the very least one journey combining work and play in 2024.

The hotspots of southern Europe are nonetheless prime of the listing for European travellers, with one in 4 (23%) planning a visit to Spain this 12 months, adopted by Italy (18%), France (16%), Portugal and Greece (13%). Outside of Europe, 16% of European travellers intend to make a journey to North or Central America this 12 months, with the identical proportion planning a visit to Asia.

Cost pressures regardless of confidence

While spending extra general, funds aren’t removed from customers’ ideas – with the overwhelming majority (87%) taking measures to scale back prices the place they will on account of inflation and a heightened price of dwelling. From choosing extra reasonably priced lodging (27%) to lowering their spending cash (27%), cost-saving measures might form journey choices within the 12 months forward.

Climate consciousness

 Seven in ten travellers (71%) say sustainability is vital to their journey choices. Of the European nations sampled, travellers in Italy are essentially the most targeted on inexperienced journey, with 82% claiming that having sustainable choices is vital to their decision-making course of. This is adopted by Spain (78%) and Poland (77%), with British travellers lagging behind (61%).

Three in 4 travellers (77%) say local weather issues can have an precise impression on their journey or reserving behaviour. Actions folks will take embody travelling much less continuously (11%); flying much less (14%); and actively searching for sustainable lodging suppliers or tour operators (10%).

However, regardless of their good intentions, travellers acknowledge that there are obstacles stopping them from making sustainable journey selections, together with conflicting price pressures, cited by 38% of respondents, and a perceived lack of understanding (23%).

Longer peak season

Climate change can be partially contributing to a different development; peak season avoidance. One in three respondents throughout Europe (32%) say they may purposefully take a vacation exterior peak season to scale back prices; whereas one in 5 (19%) expects to take action to keep away from the chance of warmth waves, comparable to these seen final summer season in southern Europe.

Some heat climate locations might even see an extended tourism season consequently, with some tour operators already providing holidays in hotter locations.

Spheres of affect

Travellers take suggestions from family and friends first round the place to go on vacation, with 35% saying their suggestions affect their vacation plans, adopted by 29% who’re swayed by on-line opinions on websites comparable to TripAdvisor or lodge web sites.

Loyalty additionally counts. Trusted operators and types are very important to folks’s selections, with 17% citing them as an vital issue. Being a member of the loyalty programme of a specific lodging supplier or tour operator can be essential for six% of respondents.

One in six (16%) are influenced by locations they’ve seen on TV programmes or motion pictures. “Set-jetting”, the development for holidays to TV present or film filming places, has been popularised with influxes of tourists to landscapes made well-known by exhibits comparable to The White Lotus and Game of Thrones. Some journey companies have even created TV-inspired itineraries and experiences to seize the curiosity.

Some 12% of respondents are influenced by locations they’ve seen on social media – the identical as those that are influenced by recommendation from a journey agent.

Hotel heaven

Hotels dominate as the most well-liked sort of vacation lodging for European travellers, with two-thirds (65%) planning to check-in in 2024. When it involves choosing a lodge, price and site are understandably crucial elements. However, travellers are additionally drawn to lodges that provide nice in-person service, with 21% citing it as a key issue when reserving a keep. Other reserving drivers embody nice food and drinks (37%), nice ambiance (17%) and embracing the native vacation spot (11%).

Other insights and tendencies revealed within the report embody:

  • Solo travellers:17% of European travellers will go on a solo journey in 2024.
  • Pets:9% of holidaymakers plan to take their pets away with them.
  • A deeper connection:36% of respondents say it is very important be immersed within the native cultures and communities that they go to on vacation and 13% have to really feel they’re making a optimistic contribution to the vacation spot.
  • Recharging the physique and soul:relaxation and leisure is crucial factor about a vacation to 44% of travellers, and 15% are presently in want of a break as a result of they’ve an uneven work-life stability. 36% say it is very important select a visit that enables them to take care of their bodily and psychological wellbeing and depart their stresses behind.
  • Concerts, competitions and carnivals:9% of travellers will make a journey based mostly round food and drinks comparable to wine tasting or a meals competition; 9% round a music occasion comparable to a live performance – just like the Taylor Swift impact that’s boosting hospitality throughout the globe; and 6% will make a journey based mostly round a sports activities occasion, with the Paris 2024 Olympics & Paralympics prime of the invoice as the key sporting attraction of the 12 months.
  • Roads, railways and waterways:19% plan to take a street journey, 9% a ship journey or cruise and three% a luxurious rail journey this 12 months.

Patrick Mendes, CEO, Premium, Midscale & Economy, Accor Europe & North Africa, stated: “Despite ongoing macro-economic and geopolitical challenges, 2024 appears to be like set to be a powerful 12 months for European journey as customers prioritise it above different types of discretionary spend. This report reinforces a number of overarching themes, none extra vital than the local weather disaster. Consumers care about how journey companies are addressing sustainability points, and this may solely turn into extra vital to their journey selections over time.

“The study highlights other crucial long-term trends. Consumer focus on wellness is here to stay. Bleisure is here to stay. Travel businesses must have a strategy to cater to these evolving needs, capture this significant demand and stay ahead of the competition.”

 

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