The process of earning and spending airline reward miles can often be a daunting one. You have to pick a credit card, try to game out how to build up miles, and then find the best deals to take you to your dream vacation.
10.09.2024 - 22:25 / skift.com / Varsha Arora
The travel industry has continued to thrive in 2024, with businesses experiencing healthy growth and strong profit margins. However, as the industry evolves, it faces new challenges and opportunities that will shape its future. The Skift Research team has released a comprehensive report featuring over 350 slides, detailing industry performance, consumer trends, and business shifts that will impact the travel landscape for years to come.
While the report covers a wide range of topics, I’ve selected three standout charts that showcase some of the most exciting trends and developments in travel today.
One of the most significant shifts we’ve observed is the growing focus on experiences over material goods. As consumers increasingly prioritize unique, memorable encounters over traditional travel consumption, the demand for experiential travel is skyrocketing. This shift is not just a passing trend—it’s transforming the global tourism landscape. According to McKinsey, the experiential travel market is projected to exceed $3 trillion by 2025.
The chart highlights the growing share of consumer spending on experiences such as entertainment, adventure travel, and personalized excursions. While spending on basic goods remains essential, the proportion spent on enriching experiences continues to rise, reflecting a fundamental change in traveler preferences. Travel companies must embrace this shift by offering more curated, personalized experiences to capture this growing demand.
Our recent report Direct Bookings vs. OTAs: Analyzing the Shift in U.S. Travel Booking Trends highlights a notable shift towards direct bookings, especially during and after the COVID-19 pandemic. Our U.S. Travel Trends survey shows that before the pandemic, bookings through Online Travel Agencies (OTAs) and direct channels (supplier websites or apps) were nearly equal. However, post-pandemic, travelers have shown a clear preference for direct bookings. About 51% of respondents reported an increase in direct bookings, driven by factors like better prices, exclusive deals, greater control, and more reliable customer service.
At the same time, social media platforms are becoming an increasingly influential tool not just for inspiration but for actual travel bookings. Our data shows that 34% of travelers feel very comfortable booking directly through social platforms like Instagram, Facebook, and YouTube, particularly younger travelers. Comfort with booking high-priced services, such as flights and hotels, through social media platforms is steadily increasing, reflecting a growing trust in these channels as viable booking options.
This creates an interesting dynamic: while many travelers still prefer the control and benefits of booking
The process of earning and spending airline reward miles can often be a daunting one. You have to pick a credit card, try to game out how to build up miles, and then find the best deals to take you to your dream vacation.
Sep 11, 2024 • 6 min read
Plan an escape to Europe or beyond starting at less than $500 thanks to this KLM Royal Dutch Airlines fall and winter sale.
In the ever-evolving world of travel trends, it's time to say goodbye to raw-dogging — flying without devices or any other distractions — and hello to the "TSA tray aesthetic."
Good morning from Skift. It’s Wednesday, September 11. and here’s what you need to know about the business of travel today.
Cooler temperatures and shoulder season deals will have many travelers are flocking to the Caribbean for a sun-kissed vacation this fall.The islands offer not only warm weather and abundant sunshine but one-of-a-kind experiences, world-class hotels and resorts and spectacular nature in addition to vibrant culture. But before they go, travelers will want to read up on the latest U.S. State Department guidance.
The eleventh edition of Skift Global Forum commences next week in New York City and to get you excited, we wanted to prepare you for the countless exclusive insights, intuitive conversations, and world-class industry networking.
Hotel earnings season has ended, so Skift reviewed what executives at hotel companies belonging to the Skift Travel 200 (ST200) said. We looked at companies beyond the half-dozen largest hotel groups.
If you’ve experienced enough of cosmopolitan Tokyo and need a change of pace from serene Kyoto, then you’ll need a list of the best things to do in Osaka, the spirited heart of the western Kansai region. Osaka is known as “the kitchen of Japan,” best known for signature Japanese delicacies like takoyaki, ball-shaped snacks often made with octopus meat; and okonomiyaki, savory pancakes made on teppan (Japanese metal grill plates). The city’s massive food scene features all types of dining spots, ranging from street vendors to Michelin-starred restaurants. Osaka is also an entertainment capital where you can meet Mario and Luigi at Super Nintendo World, part of Universal Studios Japan, or catch a baseball game at the Osaka Dome with over 36,000 fans from all over the world.
Sep 5, 2024 • 5 min read
Christopher Nassetta, a Virginia native with a shock of salt-and-pepper hair, has the air of a senior industry statesman. Since taking the reins at Hilton Worldwide in 2007, Nassetta has orchestrated a dramatic turnaround in the hotel group’s fortunes while also advocating on behalf of the whole travel industry at the governmental level.
When someone says “bucket list trips,” it’s all too easy to imagine the journeys you’d like to take in the future, in some faraway someday to celebrate a momentous occasion or mark a sort of final hurrah. That’s all well and good, but as they say: There’s no time like the present. All across the vast United States lie innumerable opportunities to fulfill a childhood—or adulthood—dream, to experience the country in all its splendor, whether rural or urban, culinary or cultural, educational or just plain ol’ fun. At Condé Nast Traveler, we spend our days learning and writing about the best experience all 50 states have to offer—this is our ultimate wish list.