Travel may be getting more expensive by the day, but that isn’t dampening the enthusiasm of Americans who want to get out and explore the world.
The newly released Visa Global Travel Intentions study shows that while travel costs have increased about 4.4% and 73% of Americans surveyed have noticed those increased costs, a mere 6% of travelers are letting sticker shock delay or impact their plans.
In many ways, that’s good news. Americans, notorious for overworking and letting vacation days go unused, are changing their ways and taking time to escape the workplace to relax and unwind.
The Visa study provides an abundance of data on this front, including:
—More vacation time and leisure as a priority. American international travelers surveyed took an average of three international trips for around seven days in 2023. Gen Z however, took slightly longer vacations — an average of eight days.
—Travelers are prioritizing trips for relaxation (47%), followed by exploring something new (35%) and seeking adventures (33%). As for the coming year, the top destinations on the agenda in 2024 for Americans include Australia, Canada, France and the United Kingdom.
—Big spenders. In yet another sign Americans remain undaunted by the cost of travel, the Visa study found that Americans spend an average of $4,204 per trip, with more than 60% of that total taking place on purchases at destinations. Translation: Travelers are budgeting more for on-site or in-destination spending.
—Travelers embrace control and independence. The survey also found that 60% of travelers are willing to pay a higher price in order to have the flexibility to accommodate last-minute changes in their trip plans.
—Embracing sustainable travel options. Yet another important revelation from the Visa report — 76% of surveyed travelers will choose eco-travel options if they are available at the same price or cheaper than alternative options, specifically when it comes to accommodations.
There's also some positive news when it comes to international visitors heading to the United States in 2024. Visa's research revealed that more than half of travelers to the U.S. who participated in the survey intend to revisit this country in 2024.
This is especially true for visitors from South Africa, Canada and India, says the survey. Meanwhile, top visitation by volume comes from Latin America, followed by the Asia Pacific region.
One last data point from the Visa survey: Most travelers are booking accommodation and transportation less than three months prior to arrival.
The Visa Global Travel Intentions study is one of many such 2024 travel predictions reports to be released in recent weeks. Skyscanner also recently released its own trends report for the year ahead.
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