Consumer spending on travel grew by 6.9% in 2024, down from 15.2% in 2023. Growth in total travel transactions also slowed from +11.4% last year to +6.8% this year. Holidays, though, remain consumers’ number one discretionary spending priority.
Spending with travel agents specifically increased by 7.9% year-on-year, down from 10.4% in 2023, although growth in total transactions with agents went up by 14% in 2024 compared with growth of 11.8% last year.
Growth in spending with airlines slowed more dramatically, down from +30.8% in 2023 to +7.5% in 2024. Total transactions with airlines also fell from +28.7% to +8.5%.
