European travellers confident about spending power

Europeans are confident about their journey spending power in 2024 regardless of the continuing price of residing strain throughout the continent, in keeping with a brand new report from Accor.

The report, primarily based on analysis¹ carried out amongst 8,000 travellers from throughout seven European nations, reveals that over half (54%) imagine they’ll have more cash 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.

Those in Poland have been essentially the most confident about their journey spending power this yr in comparison with final, with 64% anticipating an elevated funds in comparison with simply 7% anticipating a lower. Those in Germany have been the second most confident (61% versus 13%), and even in Italy, the least confident of the seven nations, there have been virtually 4 occasions as many travellers anticipating elevated budgets (44%) as these anticipating diminished 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 – may even see a rise. With working patterns more and more versatile and employers ever-more keen to allow higher latitude round their workers’ work journeys, a noteworthy one in 5 European travellers (19%) expects to take no less than one journey combining work and play in 2024.

The hotspots of southern Europe are nonetheless prime of the record 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%). Outside 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.

Cost pressures regardless of confidence

While spending extra general, funds aren’t removed from shoppers’ ideas – with the overwhelming majority (87%) taking measures to scale back prices the place they will on account of inflation and a heightened price 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.

Climate consciousness

 Seven in ten travellers (71%) say sustainability is necessary to their journey selections. Of the European nations 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. This is adopted by Spain (78%) and Poland (77%), with British travellers lagging behind (61%).

Three in 4 travellers (77%) say local weather issues could have an precise impression on their journey or reserving behaviour. Actions folks will take embrace travelling much less incessantly (11%); flying much less (14%); and actively in search of sustainable lodging suppliers or tour operators (10%).

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

Longer peak season

Climate change can also be partially contributing to a different development; peak season avoidance. One in three respondents throughout Europe (32%) say they’ll purposefully take a vacation exterior peak season to scale back prices; whereas one in 5 (19%) expects to take action to keep away from the danger of warmth waves, corresponding to these seen final summer time in southern Europe.

Some heat climate locations may even see an extended tourism season consequently, 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 evaluations on websites corresponding to TripAdvisor or resort web sites.

Loyalty additionally counts. Trusted operators and types are very important to folks’s decisions, with 17% citing them as an necessary issue. Being a member of the loyalty programme of a specific lodging supplier or tour operator can also 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 development for holidays to TV present or film filming places, has been popularised with influxes of holiday makers to landscapes made well-known by reveals corresponding to The White Lotus and Game 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.

Hotel heaven

Hotels dominate as the preferred sort of vacation lodging for European travellers, with two-thirds (65%) planning to check-in in 2024. When it involves choosing a resort, price and site are understandably crucial elements. However, travellers are additionally drawn to inns that provide nice in-person service, with 21% citing it as a key issue when reserving a keep. Other reserving drivers embrace nice foods and drinks (37%), nice ambiance (17%) and embracing the native vacation spot (11%).

Other insights and developments revealed within the report embrace:

• 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 you will need to be immersed within the native cultures and communities that they go to on vacation and 13% have to really feel they’re making a constructive contribution to the vacation spot.
• Recharging the physique and soul:relaxation and leisure is crucial factor about a 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 you will need to select a visit that permits them to take care of their bodily and psychological wellbeing and go away their stresses behind.
• Concerts, competitions and carnivals:9% of travellers will make a journey primarily based round foods and drinks corresponding to wine tasting or a meals competition; 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 key 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 & Economy, Accor Europe & North Africa, mentioned: “Despite ongoing macro-economic and geopolitical challenges, 2024 appears to be like set to be a powerful yr for European journey as shoppers prioritise it above different types of discretionary spend. This report reinforces a number of overarching themes, none extra necessary than the local weather disaster. Consumers care about how journey companies are addressing sustainability points, and this may solely turn out to be extra necessary to their journey decisions over time.

“The study highlights other crucial long-term trends. Consumer focus on wellness is here to stay. Bleisure is here to stay. Travel businesses must have a strategy to cater to these evolving needs, capture this significant demand and stay ahead of the competition.”