93% of financially healthy Germans plan to travel in the 12 months following October 2024. While this declines to 69% of financially struggling Germans, travelling remains a high priority, even among those with small budgets, highlighting that brands can engage travellers across financial situations.
As inflation stabilises, financially healthy travellers are set to increase travel spending, with 43% planning to spend more on holidays in the 12 months following October 2024 compared to the previous year (vs 18% of those struggling). This will drive demand for premium vacations, like holidays outside Europe. However, brands will also need to continue to support less-affluent travellers to take a break in challenging times with affordable wellness options.
Global warming is reshaping tourism as heatwaves, wildfires and floods impact popular destinations. This boosts interest in colder locations and pushes tourism brands to adopt CO2-reducing technologies like e-mobility and Sustainable Aviation Fuel, while promoting eco-friendly options like train travel.
Germans seek diverse travel options, from home swapping to solo trips and workations, which brands can cater to by providing holidays beyond traditional offers. Longer-term, AI can be expected to change holiday planning and booking, calling for brands to stay ahead of AI advancements.
This report looks at the following areas:
- The short-, medium- and long-term impact of inflation on the holiday market.
- Participation in travelling with a focus on consumers in different financial situations and trending destinations.
- Accommodations and transportation options used, and how brands can promote options beyond traditional holiday offers such as train travel, workations or alternative lodging (eg glamping, home swapping).
- Reasons for travelling, including differences among demographics.
- Behaviours towards travel trends, emphasising Artificial Intelligence and solo holidays.
With slowing inflation, Germans are eager to spend on travel. Brands can tap into diverse holiday options like solo trips, workations or unique lodging (eg glamping) to attract a broad audience.
Silvia Hondt, Senior Research Analyst
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EXECUTIVE SUMMARY
- The five-year outlook for travel trends
- Market context
- Inflation will continue to influence holiday spending in 2025
- Eco-friendly travel options are needed
- Digital revolution
- Opportunities
- Engage consumers across financial situations
- Support travellers to change travel habits in times of global warming
- Tap into diversifying holiday interests
- Harness the power of AI
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MARKET DRIVERS
- The German economy
- 2024 remains challenging
- Graph 1: key economic data, in real terms, 2019-25
- The inflation rate is bouncing back to more conventional levels
- Inflation is still the key factor affecting consumers’ finances…
- …confidence and expenditure
- Graph 2: financial confidence index, 2022-24
- The impact of the economy on holidays
- Consumers are experiencing ongoing higher prices for holidays
- Graph 3: higher prices for holidays faced in the last two months, 2024
- High cost of living impacted holiday expenditure in 2024
- Graph 4: spending on vacations/holidays in the past 12 months, by financial situation*, 2024
- Positive outlook for future spending
- Graph 5: changing holiday behaviour in the next 12 months compared to the last 12 months – cost, 2024
- Travel brands need to continue to cater to different financial situations
- Sustainability
- Global warming as a threat to the tourism industry
- Encourage sustainable behaviour
- Graph 6: trying to act in a way that is not harmful to the environment, 2023, 2024
- Reward schemes as incentive to foster eco-friendly behaviour
- Technology
- Watch the AI space
- Graph 7: usage of generative AI, by generation, 2023, 2024
- AI can be expected to impact holiday planning and booking
- Working life
- Bleisure and workation as additional travel
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WHAT CONSUMERS WANT AND WHY
- Destinations visited and future plans
- Elevate Germans’ appetite for travel in tough times
- Cater to growing holiday demand across financial demographics
- Graph 8: taken and planned holidays, by financial situation, 2024
- Provide holiday options for different financial demographics
- Younger generations are the most engaged travellers…
- Graph 9: destinations visited in the last 12 months, by generations, 2024
- …but brands can tap into opportunities to target Baby Boomers
- Graph 10: planned holiday destinations in the next 12 months, by generation, 2024
- Tap into the nostalgic feeling of la dolce vita
- Domestic brands: step up efforts to keep consumers engaged
- Increasing demand for travelling out of Europe
- Offer trending destinations to travellers
- Support frequent travellers with alternative holidaying options
- Graph 11: number of holidays taken in the last 12 months, 2024
- Holiday accommodations
- Tap into the broad variety of accommodation types
- Graph 12: type of accommodation stayed in in the last 12 months, 2024
- Create awareness of independent hotels among Gen Z…
- …with a stronger focus on social media
- Find ways to target travellers staying in holiday homes
- Accommodation brands: tap into alternative lodging forms
- Holiday transportations
- Transportation fuels holiday CO2 emissions
- Graph 13: transportation used to travel to holiday destinations in the last 12 months, 2024
- Provide electric cars to make car rentals more eco-friendly
- Graph 14: reasons for travelling by car, 2023
- Promote using public transport options more strongly
- Balance eco-friendly flight with value for money
- Reasons to travel
- Relaxation is top of mind
- Graph 15: reasons to plan to take a holiday in the next 12 months – NET, 2024
- Embrace the needs of consumers in different financial situations
- Promote multi-generational trips with outdoor experiences
- Offer alternative package holidays
- Behaviours towards holidays
- Embrace the diversification of the travel market
- Graph 16: behaviours towards holidays, 2024
- Cater to the needs of solo travellers
- Leverage AI to make holiday planning and booking more efficient
- Graph 17: use of artificial intelligence (AI) to plan/book a holiday, by generation, 2024
- Tap into AI…
- …and leverage cost-saving to get Germans on-board
- Graph 18: considerable use cases for AI when planning/booking a holiday, 2024
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LAUNCH ACTIVITY AND INNOVATION
- AI is driving new launches
- SMILE24 as a model for public transport in rural regions
- Advertising and marketing activity
- TUI promotes long-distance holidays
- Airbnb competes with hotels
- Eurowings promotes optional high quality features
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APPENDIX
- Appendix – products covered, abbreviations, consumer research methodology and language usage
- Products covered in this Report
- Abbreviations
- Consumer research methodology
- A note on language
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