Luxury and experiential trips lead travel trends for 2024

Demands on the technology used by tourists and business travelers are accelerating, while the personalized experiences travelers seek continue to advance.

Last year, the biggest themes for global hospitality included “travel backlog,” with many catching up on rejected trips during the pandemic, and the continued digitalization of the hotel experience, with many predicting HBX Group for last year that became a reality. .

"This is a year of optimism for global tourism, the first completely 'normal' year of travel since the turn of the decade," said Nicolas Huss, CEO of HBX Group. “While a number of themes remain constant, including a focus on personalization and sustainability, HBX Group also anticipates a shift toward wellness and increased demand for new payment options from travelers. At HBX Group, we have reconfigured our organization to meet the changing expectations of travelers and we fully anticipate that 2024 will be the year in which long-standing expectations are realized.”

New figures from the United Nations World Tourism Organization (UNWTO) highlight recent growth in travel and reveal that destinations around the world received 22% more international tourists in the third quarter of 2023 than in the same period 2022, reflecting a strong summer in the northern hemisphere. season. In fact, international tourism revenue could reach $1.4 trillion in 2023, according to the organization.

With the global tourism sector expected to generate a staggering 110 million new jobs in the next decade, according to the World Travel and Tourism Council (WTTC), HBX Group reveals the trends that will shape the travel industry. trips in 2024.

Experiential travel: From sports to shopping, travel bookings related to your favorite pastime will increase in 2024. With the Olympics this summer, a surge in travel to Paris is expected, while Euro 2024 will see football fans flock to Germany and cricket fans will flock to Germany. to the United States and the Caribbean for the T20 World Cup. Retail entertainment is also expected to peak this year as consumers book their vacations at must-see shopping destinations. London, particularly for Chinese travelers, and the United States have always been popular, but new destinations could also emerge, including Italy, as consumers invest in their local designers.

Luxury Travel: Luxury travel, including the wellness tourism sector, is seeing a rise as travelers increasingly prioritize achieving a harmonious internal and external balance in their lives. Travelers will look for more exclusive experiences this year, based on gastronomic experiences. Since many retreats offer a combination of all of this, it can be the ideal way to unwind while taking care of your body and mind. 

Asia-Pacific rebound: 2024 will be the first full year for travel to Asia-Pacific since 2019. This means there is a lot for tourists to explore both within and outside the region. While China will lead the way, Vietnam will see a significant rise in popularity.

Personalization and automation: Research among HBX Group travel agent partners reveals that up to 90 percent of travelers are now seeking personalized solutions, addressing a growing demand for personalized and seamless travel. HBX Group's transformation into a player in the global travel ecosystem, introducing new product lines to meet the needs of the end consumer seeking an end-to-end frictionless travel experience, is designed to fulfill these ambitions. Partners report that customers are not only looking for essential services such as insurance and financial provisions, but are also looking for comprehensive travel packages that offer 24/7 customer support and assistance in local languages.

Daytime Vacations: Do you struggle to find time to take a week's vacation? 2024 will see the rise of daytime holidays. A day at the beach or a hike in the mountains can be the tonic to restart work. Taking a vacation (or two) can also be good for the planet and your wallet as you explore new places on a budget.

Rise of sustainable travel: recycling, hybrid cars, plastic reduction – all the ways consumers are reducing their environmental impact. Traveling is no different. In 2024, more people will look for tangible, actionable information that allows them to make greener decisions when choosing a travel provider or destination. Metrics such as greenhouse gas emissions, energy use and composition, freshwater use, air pollution, and resource use are vital to understanding the impact of a trip and understanding that travelers can reduce it. 

Focus on fintech: Travel demand is increasing, but cancellations, delays and staff shortages continued to impact travel operations in 2023. This can create friction and stress for travelers, damage brands and require resolution . For travel companies struggling to regain and expand their market share in the current chaotic environment, travel fintechs offer compelling solutions by freezing prices, changing or canceling bookings, and easily rebooking disrupted flights, paying by whatever method they see fit. more convenient.

HBX Group will introduce a range of Fintech products this year, including travel insurance, payment solutions and multi-currency solutions. These products will be integrated into the core business to offer its clients and partners these services in all their businesses. The size of these opportunities is already large and growing. For example, the travel insurance sector alone is currently worth €15 billion and is expected to grow to €99 billion by 2030, according to research by Spherical Insights & Consulting.

Source: HBX Group.