Americans are traveling overseas in record numbers this year, setting aside worries about inflation and “prioritizing meaningful experiences over material goods,” according to a new report from Mastercard. And people aren’t afraid to spend big for those experiences, according to the card issuer: “Nine out of the last 10 record-setting spending days in the global cruise and airline industry were in 2024.”
Mastercard compiled its report using anonymized spending data as well as third-party sources, which track things like visitor arrivals, length of stay, and even weather data.
“Today’s travelers are discerning, choosing destinations that offer both value and authenticity,” Michelle Meyer, chief economist and head of the Mastercard Economics Institute, which compiled the report, said.
“They are savvy enough to stretch their funds and extend their stays, immersing themselves fully in the experiences and wonders of each locale,” she added in a statement…