Two-thirds of travellers would cut spending to prioritise 2024 trips

Worldwide: Hospitality company Hilton has released the findings of its latest 2024 travel trends report, which reveals generational preferences across four key themes.

64 per cent of global travellers reported they would reduce their personal spending to prioritise leisure travel in 2024. In terms of experiences, F&B topped the rankings followed by explorations and adventure (47 per cent). Gen Z and Millennials planned to carve more budget for these types of experiences than other generations.

Regardless of generation, travellers reported that their number one reason for wanting to travel is to rest and recharge. 27 per cent said that a trusted bed and mattress brand helps to achieve a good night’s sleep, and 22 per cent use earplugs or headphones. Nearly 20 per cent also admitted to packing their preferred pillow.

When booking trips, 80 per cent agreed that it’s important to be able to do so entirely online. 76 per cent said they appreciate travel apps, and three in five book consistently with one brand or one credit card to maximise benefits.

in 2024, 46 per cent of global full-time and self-employed workers plan to travel for business or bleisure. Millennial and Gen Z employees (53 per cent each) appear the most active demographic for future business travel, followed by Gen X (38 per cent) and Baby Boomer (26 per cent).

Group and incentive travel interest in resort and all-inclusive locations is also strengthening. In the first half of 2023, group bookings at Hilton all-inclusive resorts increased by double digits year-over-year.

“Across generations, we’re seeing guests customise their stays with us, invest in quality sleep, pursue new cultural experiences, and stretch the boundaries of business travel,” said Chris Nassetta, president and CEO at Hilton.

“As we look to 2024, we are both confident and optimistic. We know people of all ages will continue to seek out travel experiences as an opportunity to gain new, life-defining moments.”

Jason Dorsey, president and lead researcher, The Center for Generational Kinetics, said: “Today is an exciting time for travel and trends research. Why? Every generation is traveling! Gen Z is on the move. So are Millennials, Gen Xers and Baby Boomers. This mix of generations, life stages and experiences are fostering a diverse and inspiring mix of travel expectations and adventures.

“One important finding is the cross-generational priority for connectivity and personalisation throughout the travel experience. This bodes well for fuelling innovation in the travel industry and for travel leaders.”

The full report – What Millennials, Gen Z, Gen X and Baby Boomers Tell Us About Travel in the Year Ahead – can be read in full here.

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