The Mastercard Economics Institute’s “Travel Trends 2024” report reveals robust growth in the travel sector, with increased passenger traffic and spending, especially driven by U.S. tourists in European markets.
European travellers are extending their stays by an average of two extra days compared to pre-pandemic levels, with a notable shift towards traveling during shoulder seasons (May-June and September-October).
Munich is highlighted as the top trending destination for summer 2024, with Albania, Croatia, and Turkey showing significant growth in flight traffic and tourist arrivals, emphasizing a shift towards more affordable seaside destinations.
A growing emphasis on spending for meaningful experiences over material goods is noted, with 12pc of tourism sales now dedicated to experiences; European cities are recognized for their vibrant nightlife, attracting travellers seeking immersive cultural encounters.
Full “Travel Trends 2024: Breaking Boundaries” report here. Other reports and insights from the Mastercard Economics Institute here.
