Consumers' cost and climate worries to become barriers to travel spend – report

The report, detailed at WTM London on Tuesday (5 November), charted an increase in “value hunting” for global travel, highlighting data from Tourism Economics which shows more than 80% of tourism experts agree the cost of travel will become an increasingly challenging issue for the industry.

Presenting the report, Dave Goodger, Tourism Economics’ managing director EMEA, said: “People want to get that value for money even if they are prioritising travel.”

Goodger said nearly two-thirds (65%) of consumers agreed travel has a negative impact on the environment, adding that while there were signs of "tentative behavioural changes", there wasn’t yet a "wholesale" transition in sight.

However, he insisted people do want sustainable travel options. "This is more notable when we look at younger travellers," he said. "Sustainable products are becoming non-negotiable for this demographic”. 

Goodger revealed nearly a third (29%) of consumers had consciously avoided certain destinations in the past year owing to concerns about extreme weather, and warned this would become more prevalent.

Despite this, he characterised 2024 as a “new benchmark” for travel, eclipsing 2019’s record. He said: “2022 was a year of rebound, 2023 a year of recovery, but this year, we’re seeing the growth phase.”