European travellers confident about spending power

European travellers confident about spending power

Europeans are assured about their journey spending energy in 2024 regardless of the continued value of residing stress throughout the continent, in accordance with a brand new report from Accor, the world main hospitality group.

The report, primarily based on analysis1 carried out amongst 8,000 travellers from throughout seven European international locations, reveals that over half (54%) consider they are going to have extra money 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.

These in Poland had been essentially the most assured about their journey spending energy this yr in comparison with final, with 64% anticipating an elevated price range in comparison with simply 7% anticipating a lower. These in Germany had been the second most assured (61% versus 13%), and even in Italy, the least assured of the seven nations, there have been nearly 4 occasions as many travellers anticipating elevated budgets (44%) as these anticipating lowered budgets (12%).

The variety of abroad leisure journeys folks anticipate to take is barely up over the quantity they took final yr, and worldwide “workation” or “bleisure” journeys – that’s, journeys that mix each enterprise and leisure – can even see a rise. With working patterns more and more versatile and employers ever-more prepared to allow larger 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 checklist for European travellers, with one in 4 (23%) planning a visit to Spain this yr, adopted by Italy (18%), France (16%), Portugal and Greece (13%). Exterior of Europe, 16% of European travellers intend to make a journey to North or Central America this yr, with the identical proportion planning a visit to Asia.

Value pressures regardless of confidence

Whereas spending extra total, funds aren’t removed from customers’ ideas – with the overwhelming majority (87%) taking measures to cut back prices the place they’ll because of inflation and a heightened value of residing. From choosing extra inexpensive lodging (27%) to decreasing their spending cash (27%), cost-saving measures might form journey choices within the yr forward.

Local weather consciousness

 Seven in ten travellers (71%) say sustainability is necessary to their journey choices. Of the European international locations sampled, travellers in Italy are essentially the most targeted on inexperienced journey, with 82% claiming that having sustainable choices is necessary to their decision-making course of. That 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 often (11%); flying much less (14%); and actively looking for sustainable lodging suppliers or tour operators (10%).

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

Longer peak season

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

Some heat climate locations may even see an extended tourism season in consequence, 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 critiques on websites corresponding 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 necessary 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 pattern for holidays to TV present or film filming areas, has been popularised with influxes of holiday makers to landscapes made well-known by reveals corresponding to The White Lotus and Sport 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.

Lodge heaven

Accommodations dominate as the preferred kind of vacation lodging for European travellers, with two-thirds (65%) planning to check-in in 2024. In terms of selecting a lodge, value and site are understandably an important components. Nonetheless, travellers are additionally drawn to motels that supply nice in-person service, with 21% citing it as a key issue when reserving a keep. Different reserving drivers embody nice food and drinks (37%), nice ambiance (17%) and embracing the native vacation spot (11%).

Different 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% must really feel they’re making a optimistic contribution to the vacation spot.
  • Recharging the physique and soul:relaxation and rest is an important factor a few vacation to 44% of travellers, and 15% are at the moment in want of a break as a result of they’ve an uneven work-life steadiness. 36% say it is very important select a visit that permits them to take care of their bodily and psychological wellbeing and go away their stresses behind.
  • Live shows, competitions and carnivals:9% of travellers will make a journey primarily based round food and drinks corresponding to wine tasting or a meals pageant; 9% round a music occasion corresponding to a live performance – just like the Taylor Swift impact that’s boosting hospitality throughout the globe; and 6% will make a journey primarily based round a sports activities occasion, with the Paris 2024 Olympics & Paralympics prime of the invoice as the main sporting attraction of the yr.
  • Roads, railways and waterways:19% plan to take a street journey, 9% a ship journey or cruise and three% a luxurious rail journey this yr.

Patrick Mendes, CEO, Premium, Midscale & Financial system, Accor Europe & North Africa, mentioned: “Regardless of ongoing macro-economic and geopolitical challenges, 2024 seems set to be a powerful yr for European journey as customers prioritise it above different types of discretionary spend. This report reinforces a number of overarching themes, none extra necessary than the local weather disaster. Shoppers care about how journey companies are addressing sustainability points, and this can solely change into extra necessary to their journey selections over time.

“The research highlights different essential long-term tendencies. Client concentrate on wellness is right here to remain. Bleisure is right here to remain. Journey companies will need to have a method to cater to those evolving wants, seize this vital demand and keep forward of the competitors.”

 



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