With Adventure.Travel, survey finds regional and political instability and economic pressures drive 2024 travel decisions. Clever Cost Savings replaces Revenge Travel.
Photo © Getty Images / Marco Bottigelli
Key Findings of Survey
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96% of survey respondents plan to travel in 2024.
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The top factors impacting travel decisions are regional/political instability (44%), travel costs/inflationary pressures (43%) and overtourism (24%).
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Travelers are sacrificing other purchases or smaller, frequent trips for longer vacations and far-flung destinations.
Media Release: New York – World Nomads, a travel insurance provider offering simple and flexible travel insurance and safety advice to help consumers travel more confidently, has teamed up with Adventure.Travel, to survey their combined communities* about their travel intent for 2024. 96% of respondents said they plan to travel in 2024.
The top factors driving travel decisions were:
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Regional political instability (44%)
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Increased travel costs and other inflationary pressures (43%)
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Overtourism (24%).
Clever Cost Savings to Combat Price Pressures
“Despite economic pressures, travelers are far from ready to give up traveling in 2024,” said Christina Tunnah, General Manager of Marketing and Brands, World Nomads. “Our survey found that travelers are prioritizing experiences over material goods, with nearly a quarter (22%) willing to cut back on other big purchases to continue traveling.”
27% of survey respondents say they plan to take fewer trips next year, with a 10% drop in travelers planning to take four or more trips next year compared to 2023 (from 33% to 23%).
However, travelers are still traveling and still spending. A third of respondents said changing costs have not impacted their travel plans, with 86% planning to spend the same as or more than last year.
Considering Travel Stressors, More Travelers Plan to Protect Trips with Travel Insurance
The severe airline delays and cancellations that plagued last year continue to be on the minds of travelers headed into 2024. Nearly half (45%) of respondents say airline delays and cancellations are their top stressor, followed by the cost of travel (37%), dealing with large crowds (28%), illness and injury abroad (27%) and safety and security concerns (26%).
“With rising travel costs and an increase in travel disruptions over the past few years, we are not surprised to see that 87% of our audience is likely to purchase travel insurance in 2024, up from 79% in 2023,” Ms. Tunnah said.
Respondents said their top three most important travel insurance benefits are emergency medical coverage (68%), trip cancellation (40%) and access to 24/7 emergency assistance (28%).
Exploration and Active/Adventure Vacations on The Rise
67% of respondents are most interested in exploring new destinations and more than half said active/adventure pursuits and nature and wildlife experiences drive their desire to travel.
Hiking is the top activity for 63% of survey respondents, followed by snorkeling (28%) and kayaking/rafting (22%). World Nomads covers more than 200 adventure activities, sports, work and volunteer experiences for U.S. travelers.
“Insights from our tour operator members also show continued strong interest for hiking and kayaking/rafting, the growing interest for snorkeling experiences, as well as growing interest for cycling globally,” said Jason Reckers, Chief Operating Officer, Adventure.Travel. “It is also exciting to see the adventurous motivations of exploring destinations, nature or wildlife experiences, and cultural immersion are among the four leading reasons to travel.”
Europe Remains Popular but Asia Pacific Travel is on the Rise, Along with Longer Trips
Europe remains the most popular destination for 2024 – 54% of respondents said they’re planning travel there. But interest in further afield destinations continues to increase, with half of respondents planning travel to Asia, Southeast Asia, Australia or New Zealand, compared to 37% last year.
“So far, World Nomads’ U.S. resident policy sales mix for 2024 mirrors our survey results,” Ms. Tunnah said. “Europe is still #1, with 24% of policy sales; Asia is second with 17%, and Africa and South America follow with 12% each. With instability in the Middle East and parts of Europe, we’re seeing a significant shift in our sales mix over the past couple of years with an increase in travel to Asia, the Pacific and Africa; a decline in travel to the Middle East; and a leveling off in travel to Europe.”
While more than half of respondents are planning one- or two-week trips, we have seen year-over-year growth in trips over three months. With remote working becoming more of a fixture for many, there has been a significant growth in trips for three or more months. The number of respondents planning extended trips has doubled from 2023.
Sustainability and Environmental Concerns Influence Behavior
“It’s encouraging to see travelers making choices with sustainability in mind.” Ms. Tunnah said. More than half of respondents (54%) said they will shop and eat locally and support locally-owned businesses; 39% take more public transportation and 31% say they will avoid over touristed and environmentally sensitive destinations. Only 16% of respondents said they haven’t changed their behavior at all in consideration of climate change or sustainability.
“While 2023 may have been all about revenge travel, 2024 is shaping up to be a more thoughtful year, with travelers considering their environmental impact and traveling more mindfully.”
*Survey included 350+ of World Nomads and Adventure.Travel global community members
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Media Contacts
Australia/New Zealand:
Michelle Innis
Email: michelle.innis@nib.com.au
Phone: +61 414 999 693
Europe:
Graham Lynch
Email: graham.lynch@worldnomads.com
Phone: +353 86 831 784
Americas:
Mandy Morrissey
Email: mandy.morrissey@worldnomads.com
Phone: +1 510 775 0780
About World Nomads
World Nomads is a fast-growing, global travel insurance company. We provide inspirational stories, safety tips and specialized travel insurance for adventurous and independent travelers. Our online travel insurance offers cover to travelers from more than 100 countries and allows you to buy and claim online, 24/7, even while already traveling.
Our travel insurance focuses on what we believe is important to travelers: emergency medical and evacuation costs, baggage, trip cancellation, trip delay and trip interruption costs. We also offer cover for more than 150 adventure sports and activities, plus tech and gear. Our policies are underwritten by a suite of specialist travel insurers that provide 24/7 emergency assistance, customer service and claims support, making us a top choice for many of the world's leading adventure, independent and youth travel brands.
World Nomads is a part of the nib Group which provides health and medical insurance to more than 1.5 million Australian and New Zealand residents. We also provide health insurance to more than 170,000 international students and workers in Australia and are Australia’s third-largest travel insurer and global distributor of travel insurance through our business nib Travel.
About Adventure.Travel
Adventure.Travel spotlights the stories of high value adventure companies inspiring people to travel sustainably. Through compelling video, images, well-crafted stories, research, and curated news centered on themes of community, culture, and climate, Adventure.Travel inspires the curious to experience the world. Adventure.Travel is a division of the Adventure Travel Trade Association (ATTA), the recognized voice of adventure travel businesses and destinations committed to long-term, sustainable growth of adventure travel.