The IPSOS report for Hyatt reveals that most European and Middle Eastern travelers intend to maintain or increase their travel budgets in 2024, focusing on domestic and lifetime travel.
According to a IPSOS report commissioned by Hyatt1two-thirds (65%) of travelers from Europe and the Middle East plan to maintain or increase their travel budget this year.
The IPSOS report, commissioned to better understand people and the factors determining their travel decisions throughout 2024, is based on information collected from 750 respondents across Europe and the UAE. It reveals four key trends expected to influence travelers' summer vacation plans:
Trend #1. Travelers don't plan to cut travel spending
Despite global economic challenges, most travelers in the region say they will have the same or more budget for travel compared to last year. More than half of UAE travelers plan to spend more. Across Europe, 62% of travelers in the UK, 73% in Germany, 62% in Spain and 52% in France plan to maintain or increase their travel spending.
Beyond budgetary considerations, 2024 is the year of the “trip of a lifetime” for 8% of respondents, and more than one in ten British travelers (12%).
Trend #2. Weather conditions are a deciding factor
When deciding where to travel, destination weather is the second most important factor (50%) for travelers in the study region, second only to accommodation costs (53%) and surpassing the importance of both transport costs (42%). and the experience offered at the destination (also 42%).
In a context of uncertain summer weather, almost one in three German consumers (61%) consider the weather to be an important factor in choosing where to travel, compared to 45% of French travelers, 47% of British travelers and 48%. of them. in Spain and the United Arab Emirates respectively.
Trend #3. Taking a break and relaxing is the most common reason for traveling
Although some travelers are looking for adventure this year, the majority (42%) want to take a break and relax. This is the case for French (45%), British (41%) and German (52%) travelers who place this as their primary reason for traveling. For Spanish holidaymakers, experiencing new things is top of mind (40%) and for those from the UAE, spending time with family is the priority (40%).
An Ipsos report found that in the UK, as well as wanting to relax, 36% say they travel for new experiences, followed closely by tourism (35%) and time spent with loved ones (29%).
Trend #4. Domestic travel is underway
Domestic travel plays a key role for travel in 2024, according to the report. According to the IPSOS report, around three in four UK travelers (73%) said they were planning leisure trips within their own country: similar to those in France (75%), and among Spaniards (73%), Emiratis ( 68%). , and German vacationers (63%).
Meanwhile, transport costs are seen as a key deciding factor by 42% of respondents in the region, and this is particularly true for UK travelers (53%).
Along with the appetite for domestic travel, more than half (55%) of consumers in the region intend to travel internationally, and 35% of them are planning a trip to a place where they don't have never been before. Travelers based in France and the UK are the most likely to travel to a new location (43% and 42% respectively).
Arnaud de Saint-ExupéryRegional Vice President for UK & Ireland, Hyatt, commented: “Summer holidays are a highlight in many customers' calendars, providing valuable time to relax and explore destinations at home or abroad. As part of a wider consumer trend to prioritize memorable experiences and travel as part of their annual budget, it's fantastic to see the appetite among consumers to enjoy staycations here in the UK, all by seeking favorable weather conditions and exploring new destinations abroad.
“The approach to travel identified in the report is consistent with Hyatt’s ambitious growth journey in Europe, Africa and the Middle East (EAME). Hyatt has more than 46,000 rooms in the EAME region, with hotels in 41 countries covering a wide range of destinations and segments – from iconic hotels in cities like London, Paris, Rome and Dubai, to nearly 70 resorts in the Balearic Islands, the Canary Islands and the Greek Islands, to the popular leisure destinations of Oman, Montenegro and Tanzania.
1 2024 Travel Trends Consumer Study: IPSOS conducted a survey of n=750 respondents in August 2023, with at least 150 respondents in each of the following countries: France, Germany, Spain, United Kingdom and United Arab Emirates (representative of the general population).
Theodore is the co-founder and editor-in-chief of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews' long-term opportunities.
