The travel sector in 2024 will break all records. That’s according to the Mastercard Economics Institute in its latest global study, which shows that consumer spending on travel rose sharply through March this year. The ‘Travel Trends 2024’ report provides insights into the travel industry in 74 markets, including the Netherlands. Despite uncertain factors such as fluctuating exchange rates, the travel sector is thriving in 2024. This year, for example, Mastercard counted nine out of ten record days in spending on cruises and aviation. European travellers are also extending their journeys by an average of two extra days, compared to before the coronavirus crisis. The travel industry remains one of the most resilient sectors within the European economy. Despite inflation and higher interest rates post-pandemic, demand for travel continues to grow. Europe, for example, had 2.91 billion overnight stays in 2023, compared to 2.88 billion in 2019. It turns out that European travellers are now going on holiday for longer. They go away for an extra two days on average. That’s more than the global average of one extra day per trip. Affordable destinations and warmer climates are increasing this trend. For every 6 degrees Celsius increase in temperature, the trip is extended by about one day. Popular destinations in Europe Munich is the most popular destination for this summer (June-August 2024), partly because of the European Football Championship. This also makes Munich a popular destination for the Dutch. Destinations that arouse even more structural interest from Dutch travellers for the 2024 holiday period are Jakarta (Indonesia), Split (Croatia) and Tirana (Albania). Specifically, tourism in Albania is growing strongly with almost 2.5 times as many flights since 2019 and an increase in the number of tourists from 12 million in 2019 to 17 million in 2023. Mid-season becomes the new high season Tourists shift their trips from the high season (July-August) to the shoulder season: May-June and September-October. The share of overnight stays during these months has risen by 1.8 percent over the past ten years. This allows for continued growth in European travel despite capacity constraints in the summer. Countries with the biggest shift away from the peak months include Croatia, Greece, Portugal and Italy. Northern countries such as Denmark, Sweden, Finland and the Netherlands are also seeing this trend. ‘A striking trend is that we are going away more and more often outside the high season. So we prefer the milder months of May-June and September-October, away from the busy summer period,” says Natalia Lechmanova, Chief Economist Europe at the Mastercard Economics Institute. “The forecasts for next summer show that Dutch travellers are always able to (re)discover something new. Destinations such as Jakarta, Split, Tirana and Munich are high on the list and promise an exciting holiday period in 2024. ́ Luxury vs. Budget Destinations More than half of the 20 most expensive summer destinations in Europe are located in Italy, such as Taormina and the coast around Rimini. French villages on the Côte d’Azur, such as Ramatuelle, Saint-Tropez, and Cannes are also among the top 20 luxury destinations. The most affordable summer destinations are capital cities such as Bucharest, Warsaw, Budapest and Prague, and Spanish beaches such as the Costa Brava and Costa Del Sol. (Photo Shutterstock).
