The report reveals tourism trends for 2024, highlighting popular destinations and trips.
According to the latest global report from the Mastercard Economics Institute, published today, the top 10 trending destinations from June to August 2024 for American travelers include four tourist destinations in the region: Oranjestad, Aruba (2nd), Punta Cana, Dominican Republic (5th), San Juan, Puerto Rico (6th), and Santiago, Dominican Republic (10th).
Globally, Oranjestad ranks as the tenth trending destination from June to August 2024. For Latin Americans, Punta Cana is the eighth trending tourist destination for this summer.
In 2024, the tourism sector is breaking boundaries. Until March 2024, consumer spending on travel is strong with significant increases in passenger traffic, according to the “Travel Trends 2024” report, which provides comprehensive information on the changing landscape of the travel industry in 74 markets.
Throughout the Caribbean, it is notable that while travel is recovering, countries with relatively more affordable hotel options are experiencing exceptionally good performance, ultimately benefiting economies.
Internationally, there has been a notable increase in vacation time, rising from 4.5 days in 2020 to 5.5 days in 2024.
In the Caribbean, for example, the time travelers spend in Barbados has increased from an average of 7.8 to 8.5 days, respectively. The increase is due to key factors such as affordability and climate.
Other global findings on tourism:
Based on an analysis of aggregated and anonymized transaction data, including Mastercard SpendingPulseTM, and third-party data sources, the report delves into the major global travel trends for this year and beyond, including:
Record travel: a historic high of 15.9 million Americans traveled internationally in the first quarter of 2024.
Leisure for longer: tourists are extending their vacations on average by one day, influenced by affordable destinations and warmer climates.
Experience economy on the move: consumers now prioritize experiences over material goods while traveling, accounting for 12% of tourism sales, the highest point in at least five years.
Cruises full steam ahead: cruise travel is surpassing pre-pandemic demand levels, driven by affordability compared to hotels. The Bahamas has received an additional 2.9 million passengers arriving by sea compared to 2019.
Top 10 trending destinations: Japan leads tourism activity, while Munich tops the list for summer tourism. Albania ranks third among European countries with lower costs.
“The resilience and adaptability of the travel sector, along with persistent consumer demand, will mean a prosperous 2024 for tourism. Just like at home, travelers are prioritizing experiences over goods while abroad,” said Michelle Meyer, Chief Economist and Director of the Mastercard Economics Institute.
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