Guests now prioritize luxury travel more than ever, and the majority of them believe that vacation experience are more important than material property, according to a study of the world’s most experienced travellers. ” People are changing their spending habits, taking advantage of remote job models, and beefing up their safety precautions in an effort to discover ways to travel more frequently, and for longer durations”, said Dan Richards, CEO of The Global Rescue Companies, the nation’s leading provider of health, security, removal and traveling risk management services, and a member of the U. S. Travel and Tourism Advisory Board at the U. S. Department of Commerce. More than a third of travelers responding to the 2024 Spring Global Rescue Traveler Sentiment and Safety Survey said they now consider travel to be a priority more than they did before the pandemic. Three- out- of- four respondents ( 75 % ) said travel experiences are more important than material possessions. More than 70 % of respondents reported that they are cutting back on discretionary spending to encourage more travel. Respondents are delaying purchases of things like an additional car, a second home, tickets for sporting events, concerts or shows, jewelry, and expensive restaurants. According to the survey results, some people are putting off starting a family or adopting a pet to save for travel. ” New car sales have decreased, second home ownership has decreased, jewelry purchases have decreased, and travel continues to increase beyond pre-pandemic levels. People are trading off their physical possessions for passport entry stamps and the memories of bold travel, according to Richards. According to survey results, more than half of traveling respondents ( 51 % ) have plans for more trips in 2024, 38 % have longer plans, and an equal number ( 38 % ) have plans to spend more money than they did before the pandemic. Travelers anticipate a continuation of the travel boom. Nearly half ( 48 % ) of respondents ) anticipate that travel will increase even further. More than a third ( 35 % ) predicted that travel growth would stabilize but remain below pre-pandemic levels. Only a fifth ( 20 % ) of people predicted that travel would start to decline before dropping back below pre-pandemic levels. *Global Rescue Traveler Sentiment and Safety Survey- surveyed more than 1, 900 of its current and former members between April 16- 20, 2024. The respondents revealed a range of attitudes, behaviors, and preferences regarding both current and future travel.
