American Express Travel recently released their 2024 Global Travel Trends report. According to the company, the report “uncovers the driving forces behind why people are traveling right now. While the preferences and motivations of global travelers vary nationally, generationally, and otherwise, one thing remains clear: they intend to make the most of their trips this year.”
The main takeaway from the report is that young people – Millennials and Gen Z – are not only more likely to travel, but invest in experiences that are different from the travel patterns of older generations like Gen X and Boomers. As the post-pandemic world opens back up, it’s the younger generations that are taking the most advantage and reshaping the travel industry.
Watch Live Sports
For instance, 67% of Millennials said they will travel at least three hours in the next year for a sporting event. Of those surveyed, 58% said they will most likely travel for a basketball, soccer, or Formula 1 event. Some of the top destinations for sports travel are New York, Miami, London, Las Vegas, and Paris.
Go Big, Not Home
The report also shows that “major trips” are on the rise. It is no longer the case that travelers only plan extravagant getaways for special events like birthdays and anniversaries. It could simply be that a group of friends all want to experience the same vacation, so they save, plan, book, and go. These experiences can include expedition cruises, adventure travel (like trekking or hiking), wellness retreats (like spas or meditation centers), and the experience of visiting multiple countries in one region. 72% of survey respondents said they would rather save for a nice vacation than spend money going out with friends.
Find Yourself
Another fascinating trend among young travelers is the desire to travel solo. 76% of Millennials and Gen Z reported that they plan to take a solo trip within the next year. What’s more, 60% said they plan to take more than one solo trip this year. The top reasons respondents gave for getting away alone are “to treat myself to something special,” “to reconnect with myself,” and “to get a break from chaotic daily life.”
Freedom and Flexibility
Today’s travelers are also saving up for trips in order to experience the flexibility and freedom of going where they want, when they want. Spontaneity is becoming a hallmark of travel experiences for younger generations, increasing the purchase of last-minute bookings and one-way tickets. 68% of people surveyed reported intentionally leaving unscheduled space in their travel itinerary for spontaneous excursions and cultural experiences. Dining is by far the most common area where travelers like to be spontaneous according to the report, followed closely by excursions and “exploring cities other than where I’m staying.”
Survey Says
Finally, here are a few of the actual survey questions and how each generation responded:
I care more about the right travel experience than about the cost of the trip.
Millennials: 79%
Gen X: 75%
Boomers: 72%
I am willing to give up daily expenses, like coffee and food delivery, to save money for travel.
Millennials: 71%
Gen X: 64%
Boomers: 56%
I would be willing to pay extra for my next trip in order to receive an upgrade.
Millennials: 66%
Gen X: 57%
Boomers: 43%
I am interested in finding flight deals so I can spend more on accommodations or upgrades.
Millennials: 85%
Gen X: 78%
Boomers: 70%
I plan to use credit card points to pay for travel expenses.
Millennials: 67%
Gen X: 58%
Boomers: 44%
I want the help of a travel agent or trusted advisor to help book a trip this year.
Millennials: 57%
Gen X: 47%
Boomers: 39%
The Future of Travel Looks Bright
Humans have not always valued travel. In the earliest days of our species, it was dangerous to wander too far from home, and people with different cultures, customs, and languages were looked at with suspicion, if not hatred. But as our world evolves, travel is becoming a crucial part of what it means to be human. Seeing people, places, and cultures different than our own gives us a perspective of how truly vast our planet is and how small of a part we play in it. American Express Travel has given us a sense of hope with their 2024 Travel Trends report in which we can see with our own eyes that younger generations will keep the energy alive in the industry, and, because of them, perhaps the world will continue to become a better place.
