Specialized travel experiences to dictate 2024 global tourism trends

Experience travel is becoming more and more popular. This is creating a lot of opportunities for the outbound tourism industry. There’s a growing demand for customized, real, and culturally enriching travel experiences as tourists look for more immersive and distinctive experiences than just sightseeing

After the dramatic decline with the onset of the coronavirus pandemic, and the rebound in 2022, global outbound visits are predicted to rise by 17 per cent this year. The Asia-Pacific region is forecast to record the highest figure, with a 36.4 per cent increase in outbound trips.

The global outbound tourism market size is projected to grow from $ 16.89 billion in 2023 to $ 35.96 billion by 2030, exhibiting a CAGR of 11.4% during the forecast period. Traveling beyond the borders of one's own country is referred to as outbound tourism by citizens of that nation.

According to the UN World Tourism Organization, which released its first World Tourism Barometer of the year, international tourism ended 2023 at 88% of pre-pandemic levels, with an estimated 1.3 billion international arrivals, supported by strong pent-up demand.

The Middle East led the recovery by regions in relative terms, being the only region to overcome pre-pandemic levels with arrivals 22% above 2019. Europe reached 94% of pre-pandemic levels in 2023, while Africa recovered 96% and the Americas 90%. Asia and the Pacific reached 65% of pre-pandemic levels, with a gradual recovery since the start of 2023.

Four sub-regions: North Africa, Central America (both +5%), Southern Mediterranean Europe and the Caribbean (both +1%) exceeded pre-pandemic levels in 2023.

Total export revenues from tourism (including passenger transport) are estimated at $1.6 trillion in 2023, almost 95% of the $ 1.7 trillion recorded in 2019. Preliminary estimates of tourism direct gross domestic product (TDGDP) point to $ 3.3 trillion in 2023, or 3% of global GDP, the same level as in 2019, driven by both domestic and international travel.

In 2023, three-quarters of global outbound trips were vacations. Within this segment, sun and beach vacations and city breaks dominated, each occupying around one-third of the market. The third-placed were round trips.

What is striking is that the market shares of these three went in different directions during the last three years, but are now at levels similar to 2019. This suggests that the pandemic has not substantially changed people’s choice of vacation. In 2023, the main factors for an outbound holiday trip were relaxation, sightseeing, good food and shopping.

Experience travel is becoming more and more popular, which indicates that customers are choosing more customized and meaningful travel experiences. This is creating a lot of opportunities for the outbound tourism industry. There’s a growing demand for customized, real, and culturally enriching travel experiences as tourists look for more immersive and distinctive experiences than just sightseeing. One of the main chances is to meet this changing demand is by providing travelers with specially selected travel experiences that speak of their unique interests and preferences. This could entail creating itineraries that incorporate local tours that offer insights into a destination’s cultural fabric and going beyond popular attractions. Travellers are drawn to experiences that provide a deeper understanding of the places they visit, such as guided walks through historic neighborhoods and hands-on activities with local artisans. Another essential component of experiential travel is culinary adventures. There are many opportunities for businesses to offer culinary experiences, like cooking classes, food tours, and dining at real local restaurants. Travelers prioritize their eating experiences because they want to fully immerse themselves in the local cuisine and stimulate their senses.

The outbound tourism market is still changing as a result of the emergence of digital technology. Social media, smartphone apps and online booking sites are all essential for trip preparation—from choosing a destination to making hotel and airline reservations.

Tourists are looking for experiences that are genuine and one-of-a-kind. As an alternative to conventional sightseeing, there is a growing interest for adventure travel, cultural immersion and off-the-beaten-path locations.

A growing interest in sustainable and responsible tourism practices is being displayed by tourists as they become more conscious of environmental and social issues. This involves minimizing the carbon footprint of travel, staying in eco-friendly lodging, and engaging in conservation-focused events.

More flexible travel arrangements are now possible thanks to the growth of remote work. These days, a lot of people mix work and play travel, which has given rise to “leisure” travel trends, which involve extending business trips for leisure travel. The market for specialized travel experiences, such as wellness retreats, culinary tourism, and educational travel, is expanding. Tourists are searching for specialized and one-of-a-kind experiences that suit their interests.

Discovering new places that provide distinct cultural experiences, stunning scenery, and fewer crowds than well-known tourist destinations is becoming more and more popular among travellers.