The return of business travel is expected as employees embrace blended travel for a stronger work/life balance. In fact, according to recent surveys blended travel is expected to reach USD300 billion in 2024.
Outside the business world what else is likely to see an increase in 2024?
We’ll see more people opting for Rail travel.
Why? It’s climate friendly ( it’s worth remembering that tourism is actually falling short of its targets for climate change) , it’s comfortable and it adds a certain glamour. Rail transport is the fastest growing category and is expected to reach over 35% growth worldwide in 2024.
We will see a rise in Niche Tourism such as wellness, luxury, eco-tourism, sports and adventure as consumers increasingly prioritise personalised experiences aligned with their lifestyles and values. Sales of sports tourism packages are forecast to grow by 15% this year thanks to the big global events including the Olympics in Paris and UEFA EURO 2024 in Germany.
Travellers are getting younger. Millennials (aged 30-44) now make up the largest share of travellers and Digital Travellers, according to a recent survey. Luxury Seekers will heading to the Middle Eastern and Asia Pacific countries whilst Eco-Adventurers will prefer Asia Pacific and Europe. Europe is likely to see a rise in Cultural Explorers
Retail and experiences will also see growth in 2024. Duty-free shopping, museums and cultural sites are expected to be the second and third highest growth categories, with 24.9% and 17.9%, respectively,
With new developments in AI making it even easier to segment and personalise these are exciting times and 2024 is looking good for the travel industry.