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Hyatt: 4 In 10 Brits Plan To Increase Their Travel Budget

Hyatt
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A report commissioned by Hyatt Hotels Corporation has uncovered that 4 in 10 Brits plan to increase their travel budget in 2024.

According to the IPSOS report commissioned by Hyatt, two-thirds (65%) of European and Middle Eastern travellers plan to maintain or increase their travel budgets this year.

The report is based on insights from 750 respondents across Europe and the UAE. It reveals four key trends which are expected to influence travellers’ summer holiday plans:

Trend #1. Travellers do not plan on cutting down travel spend

Despite the global economic challenges, most travellers across the region say that they will have the same budget or higher for travel compared to last year.

More than half of UAE travellers are planning to spend more. Across Europe, 62% of travellers in the UK, 73% in Germany, 62% in Spain, and 52% in France anticipate they will maintain or increase travel spending.

Beyond budget considerations, 2024 is the year for “the trip of a lifetime” for 8% of respondents, and more than one in ten (12%) British travellers.

Trend #2. Weather conditions are a key deciding factor 

When deciding where to travel, weather conditions at the destination are the second most important consideration (50%) for travellers from the surveyed region.

This factor is trumped only by lodging costs (53%), and exceeds the importance of both transport costs (42%) and the experience offered at the destination (also 42%).

Almost one in three (61%) German consumers see the weather as an important factor when choosing where to travel, versus 45% of French travellers, 47% of Britons, and 48% of those in Spain and UAE respectively.

Trend #3. Taking a break and relaxing is the most common motive for travelling

Though some travellers are seeking adventures this year, the majority (42%) want to take a break and relax.

This is the case for French (45%), British (41%) and German (52%) travellers, who place this as their number one travel motive.

For Spanish holidaymakers, living new experiences takes first place (40%), and for those from the UAE, spending time with family is the priority (40%).

In the UK, in addition to wanting to relax, 36% say they travel for new experiences, closely followed by sightseeing (35%), and spending time with loved ones (29%).

Trend #4. Domestic travel is in

Domestic trips are playing a key role for travel in 2024, according to the report.

Approximately three in four (73%) of UK travellers said they are planning leisure trips in their own country: similar to those in France (75%), and amongst Spanish (73%), Emirati (68%), and German (63%) holidaymakers.

Concurrently, transport costs are considered a key deciding factor by 42% of respondents across the region, and this is a particular focus for UK travellers (53%).

Alongside the appetite for domestic travel, more than half (55%) of consumers in the region intend to travel abroad, with 35% planning a trip somewhere they have never been before.

French and UK-based travellers are the most inclined to travel to a new place (43% and 42% respectively).

Arnaud de Saint-Exupéry, Area Vice President for UK and Ireland, Hyatt, commented: “Summer holidays are a highlight in many guests’ calendars, offering precious time to relax and explore destinations at home or abroad.

“As part of  the wider consumer trend for prioritising memorable experiences and travel within annual budgets, it is fantastic to see consumers’ appetite to enjoy breaks here in the UK alongside seeking out favourable weather conditions and exploring new destinations abroad.”

The approach to travelling identified in the report is consistent with Hyatt’s ambitious growth journey in Europe, Africa and the Middle East (EAME).

For more information about Hyatt hotels, please visit www.hyatt.com.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

The results mentioned in this press release are the findings of IPSOS, and Hyatt’s commissioning of such study is not an endorsement of its findings. Hyatt makes no representations or warranties with respect to the same.

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