5 Countries Where Passengers Are Planning To Spend More On Travel In 2024
The global commercial air travel has seen a strong recovery after the pandemic-related disruptions. While airlines worldwide have returned to their pre-pandemic schedules, passengers are making flight load factors go up. More and more budget airlines are entering the market, hoping to capture a share of the growing market.
Globally, air travelers are driving the demand for air travel in both the existing market and the growth market. People are eager to spend a good chunk of money on air travel. The 2023 Skyscanner Horizons Report shows that propensity remains high currently and into the future, driving significant growth. Travelers are motivated to make travel choices well ahead of time. According to the report,
The report shows that people from across the world were surveyed about their travel plans and choices for next year. More specifically, the survey posed the question, “Have you budgeted to spend more or less money (per person) on travel abroad in 2024 compared to 2023?” More than 18,000 individuals worldwide took the survey, showing their choices. Simple Flying dives deeper into the survey results, identifying top five nations where people have planned to spend more on air travel in 2024.
South Korea is number five on the list, where 43% of people showed that their air travel spending plans for next year are greater than in 2023. The Asia-Pacific region, in general, has seen tremendous growth in passenger numbers in the last two years. The region’s domestic and international air travel market is nearly 90% compared to the pre-pandemic levels.
Most air travel spending other than the airfare is ancillary services, including baggage fees, seat selection, and in-flight meals. Approximately 37% of people plan to spend the same amount on air travel as in 2023. The percentage of people who would spend less or are undecided is relatively low.
Number four on our list is a close tie with just a fraction of additional votes for a greater percentage of spending on air travel in 2024. With cost-effective air travel in Europe thanks to the low-cost carriers, over 43% of Spanishisers plan to spend more on air travel in 2024.
The domestic and international air travel market in Europe has recovered nearly 95% compared to pre-pandemic levels. Approximately 34% of people plan to spend the same amount on air travel as in 2023. The percentage of people who would spend less or are undecided is relatively low.
Number three is Singapore, where 47% of people showed they plan to spend more on air travel next year than this year. Singapore’s geographical location allows it to cater to Asia-Pacific market, including Australia. Approximately 36% of people plan to spend the same amount on air travel as in 2023.
The percentage of people who would spend less or are undecided is just under 17%, nearly one-third of the people planning to spend more on air travel next year..
Number two on our list is the United Arab Emirates, where more than half the participating population indicated that they plan to spend more on air travel in 2024. The two Middle Eastern giants, Emirates and Etihad Airways operate a hub-and-spoke business model, meaning they largely cater to transit passengers from Asia-Pacific and in the West.
The geographical location is best suited for transit travelers. Approximately 31% of people plan to spend the same amount on air travel as in 2023. Surprisingly, the percentage of people who are undecided is less than 3%.
Topping our list is none other than India, which is one of the fastest-growing aviation markets. A whopping 63% of people indicated that their air travel spending plans for next year are greater than in 2023.
Approximately 25% of people plan to spend the same amount on air travel as in 2023. The percentage of people who would spend less or are undecided is significantly low.