Travel Experience Trend Tracker Fall 2024

The post-pandemic travel boom may be tapering, but one trend holds strong: experiences are the core driver of travel decisions and spending.

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As travelers pivot away from material purchases, they’re prioritizing memorable experiences — and they’re putting their wallets where their values are and they're voting with their dollars.

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Our latest research reveals two critical takeaways for experience creators:

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Spending on experiences now surpasses spending on tangible goods.

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While overall consumer spending is down, 'super-spenders' (Explorers) continue to travel and represent 60% of leisure travel spending.

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Here’s what this means for the experience economy.

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Want more insights? Download the full report.

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Experience spending growth is strongest in the travel sector

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While overall travel spending has stabilized, experience bookings via OTAs (Online Travel Agencies) continue to grow. The data highlights a clear trend:

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• Online Travel Agencies, like GetYourGuide, are leading year-over-year growth.
• Other travel verticals, like flights and accommodation, are growing slower.

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This steady demand confirms what tour operators creators know: experiences are not just part of a trip — they are the point of the trip.

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Meet your most valuable customer: The Explorer

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Explorers are the economic engine of the travel experience market, accounting for over 60% of all leisure travel spending. They do more trips and spend more money on experiences than other travelers, because they prioritize travel in their lives.

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Wondering what sets them apart? They are:

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• Trip maximizers (9/10): They want to make the most of every journey.
• Research enthusiasts (8/10): They love diving deep into details before booking.
• Detail-oriented planners (7/10): They’re meticulous about crafting the perfect trip.
• Authenticity seekers (7/10): They prioritize immersive, local experiences.

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Explorers do more of everything:

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• Favor all activity categories: From food tours to outdoor adventures, their bookings span a wide range.
• Rely on OTAs: They prefer booking online and trust platforms to guide their choices.
• Are extra active in the inspiration phase: Reviews, guides, and blogs are all part of their pre-trip prep.

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For experience creators, catering to Explorers means delivering on their need for variety, convenience, and authenticity.

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How travel factors shape booking behavior

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1. Travel distance influences preferences

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• Local trips: Cultural sites and leisure attractions are the top picks.
• International travel: Guided tours and boat experiences are highly sought-after.

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2. Travel companions dictate priorities

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• With partners: Walking tours were the most popular activity (57%).
• With family: Theme parks and leisure attractions top the list (57%).
• With friends: Adventure tours and group activities take precedence (26%).

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3. Regional preferences reveal unique patterns

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Each market showcases distinct behaviors:

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• France: Being most social/outgoing (38%) but are the least likely to be adventurous (24%)
• Italy: Being interested in travel (58%) and 2 in 3 also say they're price-conscious
• UK: Being interested in travel (50%) and other countries and cultures (55%)
• USA: Being adventurous (41%) and wanting to be the first to try new things (33%)
• Spain: Being interested in other cultures (57%) and wanting to know what's going on in the world (59%)
• Germany: Being price-conscious and avidly research online before buying (39%)

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Want more insights? Download the full report.

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The evolving booking timeline

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The planning window for travel is expanding, but last-minute bookings remain common:

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• 55% of Explorers begin researching six months ahead of travel.
• Many still book within 0-3 days of their trip.
• Mobile browsing and concerns about overcrowding are driving earlier planning.

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For experience creators, this means adapting availability and messaging to engage both early planners and last-minute bookers.

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Emerging trends to watch

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Several new patterns are shaping the market:

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1. Solo female travel: A rising trend complementing well-established data that suggest women plan and book most.
2. Package experiences: Bundled activities are gaining traction.
3. Photography-focused activities: Travelers are prioritizing experiences that let them leave with a photo souvenir..
4. Road trip experiences: Off-road and multiple-stop vacations continue to grow.

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These trends can help operators to differentiate their experience offerings and stand out from the crowd.

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Key actions for experience creators

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To capitalize on these trends, consider the following:

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Extend your visibility by updating availability early and maintaining consistency across platforms. Ensure flexibility for same-day bookings to capture last-minute demand.

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Target underserved segments by identifying customer groups you're missing. Craft messaging and offers tailored to their unique needs. Leverage Analytics to capitalize on this.

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Lastly, partner with OTAs for broader reach. Use data-driven insights to refine your strategy and take advantage of built-in tools and visibility options.

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About this research

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This report is based on:

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• Survey: 6,133 respondents across six markets (April 2024).
• Transaction analysis: Several millions of data points.
• Merchant data: Insights from 5,500 merchants across 450+ categories.
• GetYourGuide platform data: 170,000 experiences globally.

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The experience economy continues to thrive despite broader market shifts. By aligning your strategy with these insights, you can unlock new opportunities in this resilient and growing market.

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Want more insights? Download the full report.