While younger generations remain most engaged in travelling, Younger Millennial travellers have grown from 88% planning a main holiday in February 2022 to 95% in June 24.
As inflation gradually stabilises, the number of German travellers tends to increase. The German holiday booking market volume can be expected to grow in 2024, contributing to overall value growth.
While younger generations remain most engaged in travelling, Younger Millennial travellers are transitioning into parenthood, meaning that travel brands can explore new family travel trends like camping or wellness trips to appeal to them.
Slowing inflation gives affluent Germans more money to spend on luxurious trips and frequent holidays. Even less-affluent Germans are increasingly planning to travel despite limited holiday budgets due to the ongoing tough economic outlook, pushing travel brands to continue to engage them with affordable choices.
Younger generations, such as Gen Z, have adjusted to holiday price rises in recent years by focusing on their main holiday. With slower price hikes, they are shifting to multiple, cheaper trips. Brands in the Germany holiday booking market can benefit by encouraging frequent travel and exploration of various destinations.
With AI on the rise, travel brands need to prepare for a growing demand for personalised AI support, while maintaining diverse booking channels to cater to different traveller segments.
For the holiday market, International tourism, departures + % of HHs earning > US$50,000 p.a. + Consumer expenditure: hotels & restaurants (€) + Consumer prices (% change pa; av) were used to produce the central forecast for the market value. International tourism, arrivals + International tourism, expenditure (€) were used to produce the central forecast for the market volume.
Silvia explores and writes about German consumer and market trends on the topics of Travel & Leisure. Before joining Mintel, she worked in sports administration and tourism consulting. With her academic background in the field of tourism management and sports and health sciences, she adds significant knowledge of scientific research to her reports.
With easing inflation, brands can benefit from rising traveller numbers by catering to different traveller segments. Traditionalists need human support, while Perfection Seekers are keen on using AI tools.
Silvia Hondt
Senior Research Analyst
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