Joyned Marketing
As we approach the bustling holiday season, staying up to date with industry news and trends is essential. That’s why we wanted to share some of the most interesting articles that have caught our eye recently:
People are traveling for experiences rather than destinations
Here’s a very interesting insight from Mastercard’s Travel Trends 2024 report: memorable events are driving travel trends. A recent example, the UEFA European Football Championship, demonstrates this perfectly, with German cities such as Berlin and Munich ranking as the top trending destinations. Similarly, during the recent solar eclipse visible from North America, hotels near prime viewing locations saw a 71% increase in sales. Such events significantly boost spending for businesses in and around these areas, not to mention transport and accommodation.
Travel is really back, according to McKinsey
After a 75% decline in travel in 2020, it’s now on track for a full recovery by the end of this year, McKinsey reports. International travel is projected to increase to a historic average of nine billion lodging nights per year by 2030! McKinsey also emphasizes the role of artificial intelligence, which is now taking the travel industry by storm, enabling users to use machine learning to reimagine what it means to plan, book, and experience travel. Lastly, adopting data-driven strategies is highlighted as a winning move for the industry.
A study by Advantage Travel Partnership shows that most Gen Z tourists find their new travel destinations through apps such as TikTok, further highlighting the role of social media in gaining an edge and bringing in customers. However, what particularly caught our attention was the fact that 66% of Gen Z travelers are looking to travel with their extended family, indicating that multi-generational travel is in fact still booming!