Travelers are prioritizing leisure trips more than ever, and the overwhelming majority of them consider travel experiences to be more important than material possessions, according to a survey of the world’s most experienced travelers.
“People are changing their spending habits, taking advantage of remote work models, and beefing up their security precautions in an effort to find ways to travel more often, and for longer durations,” said Dan Richards, CEO of The Global Rescue Companies, the world’s leading provider of medical, security, evacuation and travel risk management services, and a member of the U.S. Travel and Tourism Advisory Board at the U.S. Department of Commerce.
More than a third of travelers (39%) responding to the 2024 Spring Global Rescue Traveler Sentiment and Safety Survey said travel is a higher priority today than it was pre-pandemic. Three-out-of-four respondents (75%) said travel experiences are more important than material possessions.
More than 70% of respondents said they are decreasing discretionary spending to enable more travel. Respondents are delaying purchases of things like an additional car, a second home, tickets for sporting events, concerts or shows, jewelry, and expensive restaurants. Some are holding off on starting a family or getting a pet to save for travel, according to the survey results.
“New car sales have dipped, second home ownership has plummeted, jewelry purchases are down and travel continues to increase beyond pre-pandemic levels. People are trading off material possessions for passport entry stamps and the memories that come with traveling boldly,” Richards said.
More than half of traveling respondents (51%) plan on more trips in 2024, 38% plan longer trips and an equal percentage (38%) plan to spend more money compared to pre-pandemic behavior, according to survey results.
Travelers expect the travel surge to continue. Nearly half (48%) of respondents believe travel will continue to grow at higher levels. More than a third (35%) said travel growth will level off but remain above pre-pandemic levels. Only a fifth (20%) predicted travel would level off and then dip below pre-pandemic levels.
*Global Rescue Traveler Sentiment and Safety Survey - surveyed more than 1,900 of its current and former members between April 16-20, 2024. The respondents revealed a variety of behaviors, attitudes and preferences regarding current and future travel.
