market outlook Travel’s recovery exceeded all expectations
The leading operators have announced additional routes and capacity, but they have some flexibility. There could be some flexing on capacity depending KRZbVWURQJ GHPDQG LV “The Atol licence is about headlines
to some extent. If you’re a business of a certain scale, whether you apply for
DESTINATION and price have the most influence on
holiday decisions, with some variation by age (Figure 17). Holidaymakers plan various
ways to control their spending in 2024 (Figures 18, 19 & 20).
Booking with a trusted company appears more of a priority than Atol protection (Figure 21).
FIGURE 17: FACTORS MOST LIKELY TO INFLUENCE OVERSEAS HOLIDAY CHOICE
% of UK adults planning overseas holiday in 2024 Destination
Price of holiday Accommodation
Partner/children’s wishes Flights available
chosen travel company
from nearest airport Availability through
Choice of extended family Choice of friends
Social media recommendation Tour operator/
agent recommendation
Newspaper/mag/guide/ TV recommendation
None of above/don’t know 0 %
10 20 30 40 50 60 70
0 16-24 25-34 35-44 45-54
Source: Service Science/Kantar, November-December 2023 Base: 813 UK adults likely to take overseas holiday in 2024
55+ Child No child
Very likely to take
overseas holiday
14 Travel Weekly Insight Report 2024 4% 10 20 % 30 Biggest influences on holiday decision
Destination Price
40 50
8% 8%
11% 11%
10% 14% 22% 20% 26% 43% 42%
a licence of five million or 5.5 million does not make a huge difference to the requirements the CAA might put on you. It just gives an upper limit.” Pritchard pointed out the additional
capacity in 2023 and that added for 2024 “would exceed the impact of Thomas Cook” exiting the market in 2019 “and mean more people holidaying than ever before”. “Given the current economic climate,
that could be challenging and feed through into pricing. So, some tweaking of capacity will probably take place.” He suggested: “There has been a bit
of a post-pandemic effect on demand and perhaps 2024 will be more of a normal year. People could have tighter pockets. Wages have been increasing, but we’re still seeing cost increases and people are coming out of fixed-rate mortgages. It could be a bit different to 2023 when for many people it was the first year after the pandemic that they had a proper holiday and they had pent-up savings.”
DEMAND RISING
Research for this report suggests no let-up in demand for overseas holidays in 2024, with half (50%) of UK adults saying they are likely to book a holiday abroad, up eight percentage points on a year earlier. The sharpest increase, up seven points to 29%, was among those ‘very likely’ to travel abroad. Another 16% appeared undecided. Two-thirds (66%) of those aged 25-44
said they intend to take an overseas holiday – a double-digit increase year on year – and 70% of those with children, up 19 percentage points. While a smaller proportion of adults aged 45 and over said they plan a holiday abroad, the 42% who do is up year on year. More than half (54%) of those intending
Quite likely to take
overseas holiday
to travel expect to spend more on doing so this year than last, and another third (35%) to spend about the same. More than two-thirds of those aged 25-44 and/or with children expect to spend more. Despite this, three-quarters of UK adults (76%) said the cost of living
35% 35%
23% 29% 36% 43%
45% 45%
64% 53% 27% 30% 56% 51% 48% 41% 38% 48%
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