Advertisement
U.S. markets closed
Travel Guide 2024: Industry Insights

Travel Guide 2024: Industry Insights

It’s been a few years since Covid upended the global travel sector. The world is now largely vaccinated, the recession we were all hoping to avoid didn’t happen, and the consumer is still spending. Oh and the Fed is about to cut rates… So, looks like we’re poised for another huge year? Well maybe, but there are a more than few headwinds to contend with, not to mention trends that could reshape the way you think about your next vacation. Is Delta the airline best positioned to hold market share? Are cruise lines about to hike prices on a stream of never-ending demand? Is astro tourism really the big hit for 2024? And, should you really drive your Tesla from LA to San Fransisco? Yahoo Finance’s Travel Guide 2024: Industry Insights puts you at the centre of the story, looking at planes, trains, automobiles and any other form of transport you can think of.

  • Business
    Yahoo Finance Video

    Younger consumers opt to spend on experiences: GetYourGuide CEO

    Travel spending continues to rebound with experiences spending growing, according to GetYourGuide research. GetYourGuide CEO Johannes Reck joins Brad Smith on Wealth! to talk about what the company that connects travelers with activities and tour guides, has learned about the experiences market. "We've seen a lot of traction in this space. Research indicates that it's a $300 billion market a year, and that's just the beginning of it. The market continues to grow, the market continues to expand. And if you add what people actually are doing on their weekends, it's a $1.7 trillion market. So it's one of these generational shifts where people spend less and less on physical goods and more and more on experiences," the CEO tells Yahoo Finance. "People are turning more and more to online platforms to book experiences. The online platforms are now two times the size [that they were prepandemic in] 2019.." He notes that consumer behavior around booking travel experiences varies across the globe. "What we're seeing is that people are really wanting to turn to these platforms to explore their passions... There are different behaviors across the globe. In America; for instance, Americans are really deep into social media, and they look at multiple social media platforms, two to three social media platforms before they make a booking. So, that's really where they get their validation on, you know, the experiences that they want to consume. While in Germany, where I'm sitting today, we are really value-conscious. So they will look at, you know, what's the best price. They will, you know, look at the reviews." "We've seen suppliers and supply partners and experience creators flock our platform. And this is even more true post-pandemic than it was pre-pandemic. So this is a real movement now. And we have more than 55,000 experienced creators now live on our platform." He explains that the platform now leverages artificial intelligence tech to allow content creators to determine the right price point for their experiences offerings. To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Naomi Buchanan.

  • Lifestyle
    Yahoo Finance Video

    Sports tourism allows people to 'travel with a purpose'

    Sports tourism has become the fastest-growing tourism sector, according to the United Nations World Tourism Organization (UNWTO), as more cities see bolstered economic growth from being home to professional sports teams and accommodating major sporting events. Paris, France will host the 2024 Summer Olympics while North America — the United States, Canada, and Mexico — are set to host the FIFA World Cup in 2026. On Location and IMG Events — whose parent company is the Endeavor Group (EDR) — President Paul Caine joins Yahoo Finance's Akiko Fujita to talk about major sporting events' incentives to encourage people to travel, across the country or even across the globe. "Any one of these opportunities around the globe gives a fan an opportunity to do something they've never... done before. So we like to create those... once-in-a-lifetime moments for people, and that's where the experience comes in," Caine explains. "People are willing to spend more and more to get that experience. Of course, the first layer is, what are they willing to pay for the ticket? Then it goes from there, is what do they want to do with the ticket? And that comes with a whole lot, like in the Super Bowl that we just had..." Catch more of Yahoo Finance's special Travel Guide 2024: Industry Insights coverage this week, or watch this full episode of Yahoo Finance Live here. Editor's note: This article was written by Luke Carberry Mogan.

  • Business
    Yahoo Finance Video

    Demand up for cruise vacations: what to expect from the spike

    On its recent earnings call Norwegian Cruise Line (NCLH) CEO Harry Sommer claimed cruise demand has been "as robust as we have ever seen it." The travel sector saw a boom in 2023 and cruises may continue in that trend as demand for cruise vacations soar. Citi Leisure Analyst James Hardiman joins Yahoo Finance for the latest edition of Travel Guide 2024: Industry Insights. He breaks down the pricing momentum following a strong fourth quarter.  Hardiman further details which regions have the best performance for cruises: "I think geographically the Caribbean is clearly the strongest region in the world right now. Europe is strong, but not as strong. As a global cruise company, you do have to deal with a whole lot of stuff, including the fallout from the unrest in the Middle East and the Red Sea restrictions that have now been placed. So, there's some voyages here and there that have had to be moved around the world, and certainly there's going to be a pricing impact there, but I would argue certainly you showed the more recent private movement. If you were to take that back to 2019, these stocks have, at best, held serve or at best flat for 2019 relative to a market that's up dramatically." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino