02 Jun TRAVEL MARKETING STATISTICS IN 2024 (UPDATED)
The travel and tourism industry is projected to experience significant growth over the next few years. According to a recent report,The Travel & Tourism market worldwide is projected to grow by 3.47% (2024-2028) resulting in a market volume of US$1063.00bn in 2028.
This growth can be attributed to a number of factors, including the increasing global population and the growing disposable income of consumers. In addition, the industry is being boosted by the rise of online booking platforms and the increasing popularity of staycations and other forms of alternative tourism.
The travel industry is undoubtedly constantly evolving. In order to stay ahead of the curve, it is important for businesses within this industry to keep track of the latest marketing statistics. So, what does the future hold for travel marketing? In order to answer some of the trending questions, we at Amra & Elma have carefully compiled a list of 14 important travel marketing statistics for 2024.
Travel Marketing Statistics (Editors Choice)
- Online sales poised to constitute 76% of total revenue of the travel and tourism market by 2028
- 44.9% of travel marketers believe travel ad spend recovery will take place between 2025 – 2030
- 35% of people find new travel destinations on Instagram
- 69.8% of people use search engines to plan their travel, and 36.5% use social media for travel ideas
- Referral marketing has an average conversion rate of 9.5%
- 30% of travel marketers see Facebook as the most effective way to target new audiences and 28% of them say the same for Instagram
Top 14 Travel Marketing Statistics in 2024!
TRAVEL MARKETING STATISTICS #1 – online sales poised to constitute 76% of total revenue of the Travel & Tourism market by 2028
According to Statista, the Hotels market stands as the cornerstone of the Travel & Tourism industry, showcasing a projected market volume of US$446.50 billion by 2024. Looking forward, this segment anticipates a substantial surge in user numbers, reaching 1,397.00 million users by 2028, alongside an increase in user penetration from 25.9% in 2024 to 28.1% by 2028. With an average revenue per user (ARPU) expected to reach US$0.46k and online sales poised to constitute 76% of total revenue by 2028, the landscape of Travel & Tourism is witnessing notable shifts. Additionally, the United States emerges as a dominant revenue generator, forecasted to achieve US$199 billion in 2024. Despite the challenges instigated by the COVID-19 pandemic, the resilience displayed by the travel and tourism sector underscores promising signs of recovery.
The statistics unveiled underscore a dynamic landscape within the Travel & Tourism sector, particularly focusing on the pivotal Hotels market. With projections pointing towards substantial growth in revenue, user penetration, and online sales, the industry is poised for evolution and expansion. Notably, the United States emerges as a key player in revenue generation, amplifying the global significance of this market. Furthermore, the sector’s resilience in the face of adversity, exemplified by the COVID-19 pandemic, highlights its capacity for adaptation and resurgence, positioning it for continued growth in the foreseeable future.
TRAVEL MARKETING STATISTICS #2 – US Travel Industry’s Digital Ad Spend Soars: Forecasted Growth of 14.3% to $6.79 Billion
According to Insider Intelligence, digital advertising expenditure within the US travel industry is poised to grow by 14.3% this year, reaching a total of $6.79 billion. This marks the third consecutive year that travel advertisers are boosting spending at a faster rate than any other industry, a trend expected to continue into 2024, as highlighted in the US Digital Travel Forecast Overview 2023 report. Despite this growth, it’s worth noting that the travel sector comprises only 2.6% of the overall US digital ad market. The surge in spending can be attributed to pent-up demand stemming from the pandemic, which has propelled expenditure beyond pre-pandemic levels observed last year. Interestingly, search advertisements constitute a larger share of digital ad spending compared to display ads, a trend unique to the travel and healthcare/pharmaceutical industries, as outlined in our forecast.
TRAVEL MARKETING STATISTICS #3 – 35% of people find new travel destinations on Instagram
It’s no secret that social media has a huge impact on the travel industry. Platforms like Instagram have changed the way we discover new places to visit, and it’s now easier than ever to share our experiences with the world. According to research, 48% of respondents choose their travel destination based on what they see on Instagram, while 35% of the respondents discover new places to visit from the platform. With such a large percentage of people being influenced by Instagram, it’s clear that businesses in the travel industry need to be active on the platform if they want to stay competitive.
TRAVEL MARKETING STATISTICS #4 – 86% of people make decisions on travel destinations based on user-generated content they’ve seen
User-generated content has become an increasingly important part of the travel industry, with 86% of respondents in a Stackla study saying they have been inspired to visit a specific location after seeing UGC about it. While traditional advertising still has its place, UGC is often seen as more authentic and trustworthy, making it a powerful marketing tool. By featuring user-generated content on their platforms, businesses harness the power of word-of-mouth marketing to reach new audiences and inspire potential customers to learn more about their products or services.
It’s no surprise that people are using search engines and social media more than ever to plan their travels. What is surprising, however, is the extent to which people are relying on these sources. According to Statista nearly 70% of respondents said they used search engines for general web searches related to their travels, and over a third said they used social media websites for travel inspiration or ideas.
TRAVEL MARKETING STATISTICS #6 – Exploring the Digital Wanderlust: TikTok’s #Travel Surpasses 265.2 Billion Views
The allure of travel permeates social media platforms, evident in the staggering numbers associated with hashtags and posts dedicated to wanderlust. In 2024, on TikTok, the hashtag “travel” commands an impressive 265.2 billion views, reflecting the widespread fascination with exploring new destinations and experiences. Similarly, Instagram hosts a staggering 729 million posts dedicated to travel, showcasing breathtaking landscapes, exotic cuisines, and cultural encounters.
TRAVEL MARKETING STATISTICS #7- Booking.com’s Explosive Advertising Growth: Surge of 132% YoY to $344 Million
According to MediaRadar, Booking.com significantly boosted its advertising expenditure by more than 132% year-over-year (YoY), reaching a total investment of $344 million through November. Although the national spending was spread across various digital and TV media platforms, a substantial portion, accounting for 68%, was allocated to online video (OLV) following a remarkable 211% YoY increase. According to MediaRadar’s data analysis, Booking.com’s average cost per thousand impressions (CPM) stood at $8.07, with video instream being the most commonly acquired ad format through open auction channels.
TRAVEL MARKETING STATISTICS #8 – IN 2023 THERE WAS A SURGE IN AD SPENDING BY RENTAL CAR COMPANIES, 2023 SAW A 73% INCREASE FROM 2022
In 2023, the car rental industry in the United States achieved unprecedented levels of revenue, reaching an estimated $38.3 billion, as reported by Auto Rental News‘ annual fact book. This marks a 5% increase from the $36.1 billion earned in 2022.
As a result, there was a surge in ad spending by rental car companies in 2023. For example, Avis Rent A Car System allocated more than $60 million towards advertising its rental car services through November of the current year, marking a staggering 1000% increase year-over-year (YoY) according to MediaRadar. Avis notably directed the majority of its online video (OLV) investment, surpassing cable and broadcast TV with a 69% share of the total investment. Both digital and television advertising experienced remarkable growth, also surpassing 1000% YoY. During the summer months of May (with $6.7 million) and June (with $3.3 million), Avis intensified its advertising efforts, particularly on television, capitalizing on peak spending periods. The brand initiated the fourth quarter by significantly increasing digital advertising expenditures, reaching over $11 million in October and $28 million in November..
TRAVEL MARKETING STATISTICS #9 – Walt Disney World’s Advertising Spree: Surging 15% YoY to Nearly $442 Million
Walt Disney World’s advertising expenditure for its amusement park surged by 15% year-over-year (YoY), reaching nearly $442 million. Digital advertising dominated with over $340 million, marking a 9% YoY increase through November, while television advertising experienced a notable 45% YoY growth. Conversely, spending on print advertisements plummeted by 70% YoY to less than $600,000. Notably, 93% of the digital spending was procured programmatically within the current year.
TRAVEL MARKETING STATISTICS #10 – 79% of travelers now use their phones for booking accommodation and transport
As the world continues to become more and more interconnected, it’s no surprise that mobile devices are playing an increasingly important role in the travel industry. According to Google, flight and hotel bookings are now among the top 9 most-searched items on mobile devices. What’s more, around 79% of travelers now use their phones for booking accommodation and transport, as compared to 70% in 2016. This suggests that mobile bookings are becoming increasingly popular, as travelers appreciate the convenience and flexibility that they offer. With travel searches for today and tomorrow on mobile devices increasing by 150% in the last two years, it’s clear that this trend is here to stay.
TRAVEL MARKETING STATISTICS #11 – 53% of travel and hospitality companies use personalized emails
According to Adobe, 53% of travel and hospitality companies now use personalized emails, and 67% of them use responsive mobile emails. These numbers reflect a growing trend towards tailor-made, user-friendly content that can be accessed from any device. By personalizing their email content and making it more responsive to mobile users, companies in the travel and hospitality industry are ensuring that their messages reach a wider audience.
TRAVEL MARKETING STATISTICS #12 – 30% of travel marketers see Facebook as the most effective way to target new audiences, and 28% of them say the same for Instagram
According to Sojern, social media is by travel marketers seen as the most effective way to target new audiences on a global scale, with Facebook (30%) and Instagram (28%) leading the pack. However, when it comes to engaging with loyal members, only 4% of travel marketers feel that Facebook and Instagram are effective. This could be because loyalty programs are designed to reward guests for their repeat business, and social media is not always the best platform for developing long-term relationships. Instead, travel marketers are focusing on loyalty program communications that are tailored to each guest’s individual needs and preferences.
TRAVEL MARKETING STATISTICS #13 – on average organic search drives 30.7% of website traffic
There is no doubt that organic search is one of the most important traffic drivers for travel websites. In fact, according to a recent study, on average organic search drives 30.7% of website traffic. This is significantly higher than the next highest traffic driver, which is the paid search which drives 19.6% of website traffic.
TRAVEL MARKETING STATISTICS #14 – referral marketing has an average conversion rate of 9.5%
Travel marketers are always looking for ways to increase their conversion rates and one of the best ways to achieve higher conversion rates is through referrals. When a satisfied customer refers a friend or family member, there’s a good chance that they’ll also convert. In fact, referral marketing has an average conversion rate of 9.5%. This means that for every 100 customers who are referred to the travel business, nine or ten will make a booking.
The Future of Travel Marketing
As the world of tourism continues to grow and evolve, so too does travel marketing. Businesses within this industry need an edge by staying on top of current trends in order for them to succeed with their own travel marketing strategies. With the rise of online booking platforms, staycations are becoming more popular than ever before. This has created a huge opportunity for businesses in this industry to explore new markets and reach travelers who might not otherwise be interested in their products or services!
Some key findings on travel marketing include that social media has become an increasingly important channel for promoting travel brands, while email continues to be a powerful tool for driving conversions. The studies also found that mobile devices are becoming an increasingly popular way for travelers to plan their trips, so businesses need to ensure their websites are optimized for mobile devices.
What Is Travel Marketing and Why Is It So Important?
Travel marketing is the process of creating and delivering value to customers to generate profitable customer relationships. It is a strategic process that starts with understanding customer needs and desires and then developing marketing programs that meet those needs. The main goal of travel marketing is to create a preference for your travel products or services over the competition.
There are many different aspects to travel marketing, including advertising, public relations, online marketing, and event marketing. All of these activities of travel marketing campaigns are aimed at increasing awareness of your travel brand and encouraging people to book travel through your company.
One of the most important aspects of travel marketing is creating an effective advertising campaign. Advertising is the process of creating messages that promote your product or service and persuade people to buy it. As one of the most relevant parts of any travel marketing campaign, advertising can be done in many different media, including TV, radio, newspapers, magazines, online, and outdoor advertising (such as billboards and bus stops).
Public relations is another key component of travel marketing (PR). Building trusting connections with the media and other important stakeholders in the process of public relations campaigns. By doing this, you can create positive publicity for your brand and encourage people to book travel through your company. PR activities as key elements of travel marketing can include press releases, interviews, articles, blog posts, social media outreach, and event sponsorship.
Online marketing is also an important part of travel marketing. This includes things like website design and development, search engine optimization (SEO), pay-per-click advertising (PPC), email marketing, and social media marketing. By using these online tools effectively, you can reach a large number of potential customers and encourage them to book travel through your company.
Finally, event marketing is another valuable tool for promoting your brand with travel marketing campaigns. Events can be used to increase awareness of your company, build relationships with potential customers, and generate leads. They can also be used to strengthen relationships with current customers and encourage them to book future trips through your company. As a crucial part of travel marketing campaigns, events can take many different forms, such as trade shows, roadshows, webinars, or even social events like parties or networking events.
The importance of travel marketing cannot be overstated. Marketing is the process of creating awareness and excitement for a product or service, and travel marketing is no exception. A well-executed travel marketing campaign can generate interest in traveling to a destination, increase tourism spending, and create jobs in the tourism industry. A strong travel marketing campaign can have a significant impact on these numbers. To create an effective travel marketing campaign, destinations must understand what motivates travelers and develop marketing strategies that resonate with potential visitors.
A well-executed travel marketing campaign can have a significant impact on tourism numbers. It can create awareness and excitement for a destination, increase tourist spending, and create jobs in the tourism industry. To be effective, however, destinations must understand what motivates travelers and develop travel marketing strategies that resonate with potential visitors.