There’s no crystal ball when it comes to predicting future travel trends, but a new survey from Flywire, a B2B travel payment service, is offering a set of predictions as we head into 2024, thanks to insight from more than 400 international travel providers.
The Travel Providers Insight Report— which includes survey results from destination management companies, accommodation providers and tour operators in Australia, Italy, Japan and South Africa — is largely optimistic, with 97% of respondents anticipating growth to their businesses over the next five years.
Here’s what else the report found.
Travelers Are Seeking Accommodations for Remote Work
Some trends that began during the COVID-19 pandemic are holding strong, the report shows: Namely, consumers are still working remotely and craving remote work access while away, to blend business and leisure travel together (also known as “Bleisure”).
Eighty-nine percent of those surveyed see a desire from travelers for flexible spaces that allow for remote work, and nearly half (44%) are asking for business amenities in their accommodations. The majority of these suppliers are rising to meet the demand, with 64% offering packages that will accommodate a four-day work week, and 59% offering promotions that allow for remote work throughout the clients’ entire trip.
As travelers eschew traditional ‘off-the-shelf’ packages, providers are offering experiences that match travelers’ expectations for immersive, personalized trips.
Booking Windows Will Lengthen, And Consumers Are Favoring Flexible Options
Because clients are increasingly incorporating their professional life into their personal travels, flexibility when travel-planning — and seeking out suppliers — has become paramount.
Forty-six percent of those surveyed have seen an increase in advance planning and are anticipating more requests for early check-in (57%), late check-out (45%) and waived cancelation/change fees (52%).
Consumers Are Shifting Toward Experiential, Slow Travel
Travelers are also going to shift toward non-traditional tourism, the report finds, with 89% of travel providers (especially those based in Australia and Italy) seeing an uptick in interest in experiential travel, and 72% seeing longer stays while in-destination, a phenomenon known as “slow travel.” Providers in South Africa (86%) and Italy (84%) are seeing a larger slow travel boost when compared to last year, but 84% of providers believe this trend will only continue to grow.
“Our research into travel providers around the world shows that as we head into 2024, consumers are likely to continue to prioritize investing in unique experiences, as providers prepare for an increase in bookings,” said Colin Smyth, vice president and general manager of travel for Flywire. “As travelers eschew traditional ‘off-the-shelf’ packages, providers are offering experiences that match travelers’ expectations for immersive, personalized trips.”
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Sustainability Is No Longer a ‘Nice-to-Have’ Component of Travel
Flywire’s insights reveal that customers are prioritizing sustainable travel more than ever. Nearly all (84%) of providers believe sustainability is a determining factor in how clients plan trips, 82% have seen an increase in demand for eco-conscious options over the past few years, and 42% say clients are actively asking about their product’s sustainability options.
Suppliers Want Easy Payment Solutions
The report also found that travel suppliers have several wish-list items when it comes to paying for travel. Eighty percent of suppliers wish their outgoing payments — including travel agent commissions (81%) — were easier to handle, and nearly all (83%) believe clients will be more satisfied if international partners could accept payments in the clients’ own currency.
For additional insights, access the full Flywire report.
