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Luxury Escapes reveals Australians holiday plans and booking trends for 2024

A study by the high-end holiday retailer has found cost-of-living pressures are totally manageable, with travel still a priority for next year.

Aussies are stashing plenty of cash for travel in 2024.

Australians plan to maintain or increase their travel budgets in 2024, with an astonishing 90 percent of the population planning to take a holiday in 2024 and nearly three-quarters actively planning two or more trips.

The stats feature in Luxury Escapes’ 2024 Travel Trends Report, which was released today and features market insights taken from nearly 4,000 Australians who took part in a survey to share their travel budgets and plans.

Key figures to feature in the report include 88 per cent of respondents who said their ambition was to head overseas in 2024, with $8,000 being the average per person amount Australians will spend on each trip.

Nearly six in every ten surveyed said food tourism and experiential travel were the key motivators for their trip, with the desire to experience new things, relax and unwind, explore different cultures, meet new people and make up for lost time during the pandemic the main objectives for travelling.

Four of the top five international destinations on Australians’ lists are in Asia, with the list comprising Bali, Japan, Thailand and Vietnam, with Italy being the lone European nation among the rankings.

Bali is the top destination earmarked by Aussies next year.

Factors driving decisions on where to travel include seeing a new place or ticking a destination or experience off their bucket list, closely followed by following a recommendation from friends or family.

The report found Australians are throwing cost-of-living pressures to the wind and were eager to splurge and thereby continue fuelling inflationary pressures at home by indulging in five-star luxury and treating themselves to some high-end experiences.

Of those polled, 58 percent were eager to stay at five-star resorts, while 65 percent were interested in upgrading their hotel room to a higher category, with upgrading their flight cabin, partaking in massages or spa treatments or sitting down to a fine meal among the list of intended splurges.

Luxury Escapes Co-Founder, Adam Schwab, said the strong rebound in travel after the pandemic looks like it’s set to stick around.

“In terms of sectors, the big winners are cruises and tours, which took a little while longer to bounce back after the government’s response to the pandemic closed us off to the world,” Schwab said.

“But now they are back, bigger, better, longer and more bespoke than ever.”

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Written by: Matt Lennon
Published: 1 December 2023

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