2024 Tourism Outlook: Spending rises in Europe and the Middle East despite economic uncertainties, IPSOS report finds

Tourism in Europe and the Middle East is poised to grow in 2024, with 65% of travelers planning to maintain or increase their budgets, according to an IPSOS report.

The report highlights several key trends shaping travelers’ plans for the summer. Firstly, despite economic uncertainties, the majority of travelers intend to either sustain or boost their spending on travel. Notably, over half of UAE travelers expect to spend more.

In specific countries, 62% of UK travelers, 73% in Germany, 62% in Spain, and 52% in France plan to maintain or increase their travel budgets. Additionally, 8% of respondents are gearing up for a “trip of a lifetime” in 2024.

Weather is a critical decision factor for travelers, ranking second in importance (50%) and influencing more than transportation costs (42%) and available experiences at destinations (42%). In Germany, 61% of consumers consider weather important, while 45% of French, 47% of British, and about 48% of Spanish and Emirati travelers do the same.

Another trend from the IPSOS report indicates a significant interest in taking a break from the hectic pace of daily work life. Adventure is on some travelers’ agendas, but the majority (42%) prioritize relaxation. This is particularly true for 45% of French, 41% of British, and 52% of German travelers.

Domestic travel is also a major trend for 2024, with three-quarters of Spanish travelers planning leisure trips within Spain. This trend is echoed in France (75%), the UK (73%), the UAE (68%), and Germany (63%).

Cost remains a crucial factor, with 42% of respondents considering transportation expenses significant, especially accommodation costs, which are a particular concern for 61% of Spanish travelers.

Moreover, while there is a strong interest in domestic travel, over half (55%) of the region’s consumers also plan to travel abroad, and 35% aim to visit new destinations. French and British travelers are particularly keen on exploring new locations, with 43% and 42%, respectively, seeking new experiences.

The article 2024 Tourism Outlook: Spending rises in Europe and the Middle East despite economic uncertainties, IPSOS report finds first appeared in TravelDailyNews International.