Economics
Summer 2024 Travel Demand Outlook
Report summary
Key Takeaways
- In recent months, consumer spending on vacations has begun to creep up along with intent to travel, reversing the downward trend through the end of 2023.
- Recent increases in airfare and hotel spending were driven in large part by high-income adults who are becoming less sensitive to higher prices.
- Price continues to be the most important factor for consumers when booking flights.
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About the authors
Sofia Baig is an economist at decision intelligence company Morning Consult, where she works on descriptive and predictive analysis that leverages Morning Consult’s proprietary high-frequency data. Previously, she worked for the Federal Reserve Board as a quantitative analyst, focusing on topics related to monetary policy and bank stress testing. She received a bachelor’s degree in economics from Pomona College and a master’s degree in mathematics and statistics from Georgetown University.
Follow her on Twitter @_SofiaBaig_For speaking opportunities and booking requests, please email [email protected]
Lindsey Roeschke is an analyst whose work focuses on behavior and expectations of consumers in the travel & hospitality and food & beverage categories, particularly through a generational and cultural lens. Prior to joining Morning Consult, she served as a director of consumer and culture analysis at Gartner. In addition to her research and advisory background, Lindsey has more than a decade of experience in the advertising world. She has lived and worked in seven cities across four continents.
