Travel & Hospitality
The State of Travel & Hospitality 2024
Report summary
Increased bookings and future travel plans have made 2024 a banner year for the industry. The travel industry is on track to break records for both volume and spending, as consumers shed their “revenge travel” mindset and get back to booking their dream vacations. However, concerns related to cost, safety, and even COVID may impact travelers’ plans.
Morning Consult’s State of Travel & Hospitality report tracks evolving consumer behaviors in the travel sector and analyzes what they mean for the future of the industry. Based on survey interviews conducted monthly since October 2021, this report provides insight into how consumers are thinking about, planning for and engaging with travel.
Key Takeaways
- Leisure travel surges while business trips stagnate: The share of consumers planning to take a leisure trip in the coming months is up 7 points year over year, but business travel numbers remain the same — even decreasing amongst younger workers.
- Lingering economic concerns weigh on travelers: More than one-third of middle-income consumers say that cost concerns can impact their willingness to plan a trip.
- Vacation rentals are growing in popularity: Intent to book a vacation rental is up 9 points for leisure travelers and 5 points for business, as brands in the space continue to gain mainstream momentum.
- Brands must address safety issues: Early 2024 headlines caused concern amongst air travelers, and safety is the top priority for those booking both transportation (56%) and accommodation (52%).
Data Downloads
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Methodology
This report is grounded in data from our travel and hospitality tracker fielded from October 2021 to May 2024 among roughly 2,200 U.S. adults per month.
The interviews were conducted online, and the data was weighted to approximate respective populations of adults based on gender, educational attainment, race and region. Top-line results from all surveys have margins of error of up to +/-2 percentage points.
This report also includes data from Morning Consult’s Intelligence platform. The platform helps you understand your audience, brand, competitors and markets in a way traditional research companies can’t. Learn more here.
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