Economics
Summer 2024 Travel Demand Outlook
Report summary
Key Takeaways
- In recent months, consumer spending on vacations has begun to creep up along with intent to travel, reversing the downward trend through the end of 2023.
- Recent increases in airfare and hotel spending were driven in large part by high-income adults who are becoming less sensitive to higher prices.
- Price continues to be the most important factor for consumers when booking flights.
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Trended Data File (inflation indexes by category)
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A sortable xlsx file of survey results, including all historical waves and industries, among Morning Consult’s standard demographics
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Trended Data File (spending by category)
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A sortable xlsx file of survey results, including all historical waves and industries, among a subset of Morning Consult’s standard demographics
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Trended Data File (travel and hospitality industry trend tracker)
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A sortable XLSX file of survey results among U.S. adults and key demographics
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About the authors
Sofia Baig
Economist
Sofia Baig is an economist at decision intelligence company Morning Consult, where she works on descriptive and predictive analysis that leverages Morning Consult’s proprietary high-frequency data. Previously, she worked for the Federal Reserve Board as a quantitative analyst, focusing on topics related to monetary policy and bank stress testing. She received a bachelor’s degree in economics from Pomona College and a master’s degree in mathematics and statistics from Georgetown University.
Follow her on Twitter @_SofiaBaig_For speaking opportunities and booking requests, please email [email protected]
Lindsey Roeschke
Analyst
Lindsey Roeschke is a travel & hospitality analyst. Lindsey’s work focuses on behavior and expectations in travel (among other categories), particularly through a generational and cultural lens. In addition to her research and advisory background, Lindsey has more than a decade of experience in the advertising world.
