This latest global report provides comprehensive insights into the evolving landscape of the travel industry across multiple markets.
The Mastercard Economics Institute has unveiled its latest Travel Trends 2024 report, highlighting a significant shift in the travel industry this year. The report notes a substantial increase in travel spending and robust growth in traveller traffic.
Despite fluctuating exchange rates and varying levels of affordability, the desire to travel remains stronger than ever, with the UAE ranking 9th among the top trending destinations globally over the past 12 months. For UAE travellers, the top three trending destinations this summer are London, Athens, and Paris. Globally, Japan tops the list of trending destinations for the past year, while Munich is the top trending destination for this summer (June-August 2024) due to the European Championship action.
The travel sector is flourishing in 2024, with nine out of the last ten record-setting spending days in the global cruise and airline industry occurring this year. Travellers leaving the Middle East are becoming more strategic about where and when they travel, increasingly choosing destinations closer to home. Meanwhile, travellers to Africa and the Middle East are extending their trips by an extra three days compared to pre-pandemic times.
“The travel sector in the Middle East region is incredibly strong and resilient, supported by consumer demand, an appetite to discover destinations closer to home while enjoying memorable and authentic experiences. It’s great to see travellers extend their stays, and this is something that’s very positive for the tourism industry at large, as well as local governments building diversified economies,” said Natalia Lechmanova, Chief Economist EEMEA at Mastercard Economics Institute.
Drawing on a unique analysis of aggregated and anonymized transaction data, including Mastercard SpendingPulse and third-party data sources, the report provides a deep dive into key travel trends globally for the year and beyond.
