Positive travel sentiment increases despite cost pressures according to MMGY Global survey
The travel industry continues to boom, with a significant increase in travel intentions among U.S. adults in 2024 according to new research from MMGY Travel Intelligence. In the latest edition of the firm’s Portrait of American Travelers® study, three-quarters of Americans (76%) report they plan to take a vacation in the next 12 months, a notable increase from 70% observed this time last year. Furthermore, nearly two-thirds (64%) of these travelers plan to take a trip in the next six months – a significant boost from 58% reported in October 2023.
MMGY Travel Intelligence also reports that the Traveler Sentiment Index™ (TSI) has shown a slight increase from February 2023, rising from 109 to 113. This increase reflects growing optimism related to both domestic and international travel, despite inflationary pressures in the U.S. and a slight decrease in perceived safety of international travel.
“Despite travelers reporting increased safety concerns for international travel, overall interest and intent to travel continue to rise,” said Chris Davidson, Executive Vice President of MMGY Travel Intelligence. “Travelers are continuing to prioritize spending on experiences, and peoples’ travel decisions are increasingly affected by values such as commitments to environmental sustainability.”
>Additional key takeaways from the Portrait of American Travelers® “Spring Edition” follow.
- The TSI reveals a slight decline in travelers who consider international trips to be safe (down from 52% this time last year to 48%).
- Despite rising costs, inflation and gas prices are having less of an impact on travel plans when compared to October 2023.
- Millennials and high-income households are leading the way in increased travel spending intentions, reaching the highest level since the COVID-19 pandemic.
- Hawaii (67%), Florida (66%), California (57%) and Colorado (56%) are the top states drawing interest among leisure travelers, with Las Vegas (59%), Maui (58%) and Honolulu (58%) leading as destinations of interest.
- Many travelers continue to consider sustainability in travel planning, with 56% reporting they are willing to pay more to support environmentally responsible providers. Gen Z and Millennial travelers rank sustainability especially high when making travel decisions.
- Three in 10 active leisure travelers have reported using AI tools for travel planning, with younger travelers being the most likely to use AI to make travel plans.
In addition to exploring ongoing trends such as traveler preferences and purchase behaviors, the “Spring Edition” also includes new insights dedicated to sustainability in travel, sources of travel-planning information, accommodations and international travel intentions. For more information or to purchase a copy of the study, visit mmgyintel.com.
About the 2024 Portrait of American Travelers®
MMGY Global’s Portrait of American Travelers® study provides an in-depth examination of the impact of the current economic environment, prevailing social values, and emerging travel habits, preferences and intentions of Americans. Now in its 34th year, it is widely regarded as a leading barometer of travel trends and an essential tool for both the development and evolution of brand and marketing strategy. The travel trend information presented in this “Spring Edition” report was obtained from interviews with 4,500 U.S. adults in February 2024 featuring data from four generations: Gen Zers (18–25), Millennials (26–41), Gen Xers (42–57) and Boomers (58–76). The Silent/GI generation (77+) was also surveyed, but results are not broken out for this specific generation due to a small respondent sample size. This is the first of four quarterly reports to be released this year.
About MMGY Travel Intelligence
MMGY Travel Intelligence is MMGY Global’s industry research and insights brand, offering proprietary data and research including MMGY Global’s Portrait of American Travelers® as well as DK Shifflet’s TRAVEL PERFORMANCE/Monitor℠, which utilizes the largest continuous consumer travel database in the industry. The organization’s services are designed to power travel industry decision-makers through consumer insights, travel performance data, and audience modeling and segmentation. To learn more about the extensive collection of research, analytics and strategy services, visit mmgyintel.com or email research@mmgyglobal.com.
