This report looks at the following areas:
- Exploring the impact of increasing holiday prices and their influence on consumer behaviour and financial planning.
- Investigation into the effects of the rising cost of living on the recovery of the Irish travel market.
- Examination of current trends in Irish holiday bookings and future intentions.
- Analysis of popular holiday booking channels and preferred periods for main holiday planning and booking.
- Insights into the desired booking features and incentives that encourage repeated bookings in the Irish market.
- Evaluation of the role of technology in shaping travel planning and booking processes.
Amid travel uncertainties and price fluctuations, consumers prioritise peace of mind and unique experiences, forcing brands to challenge traditional strategies.
Sam Fryers, Research Analyst – Ireland
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Executive Summary
- Opportunities for holiday planning and booking
- Make travel less overwhelming
- Rethink what premium is for senior travel and accommodation
- Incentivise long-term planning to spread costs
- Market dynamics and outlook
- Market size and forecast
- Air passenger flow through Irish airports is growing
- Graph 1: air passenger flow through NI airports (in and out), 2018-23
- Graph 2: air passenger flow through RoI airports (in and out), 2018-23
- The five year outlook for Holiday Planning and Booking
- By 2028, Ireland’s total air passenger flow will exceed 550 million
- Graph 3: air passenger flow through Airports, 2019-29
- Financial wellbeing indicates the worst has passed…
- Graph 4: how consumers rate their financial situation compared to 12 months ago, 2022-24
- …with consumer confidence better than last year
- Graph 5: current financial situation, ‘Healthy’ or ‘OK’, April 2022 – February 2024
- Higher prices dilute improving finances
- An air of uncertainty surrounds travel
- Technology continues to disrupt travel
- What consumers want and why
- Nearly a fifth in NI have no holiday plans
- European and beach holidays the favoured destination
- Holidaying a mental health priority
- Online platforms’ smartphone compatibility is of growing importance…
- Graph 6: how consumers booked/plan to book, by age group, 2024
- …and tech trends shape the future of travel planning
- Innovation and marketing
- Making travel easier with AI and biometric passports
- Expedia’s all-encompassing loyalty program
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Market Dynamics
- Market size
- Air passenger flow continues to recover…
- Graph 7: air passenger flow through airports (in and out), 2018-23
- …with both regions beginning to exceed pre-pandemic figures
- RoI commercial flight departures climbing since 2020
- Graph 8: commercial flight departures, by airport 2020-23
- Outbound travel from RoI exceeds pre-Pandemic levels
- Overnight visits to NI from RoI far exceed one million in 2023
- Market forecast
- Number of passengers outpaces pre-pandemic levels in RoI
- NI’s recovery on a slower short-term trajectory
- Graph 9: air passenger flow through Airports, 2019-29
- Cost-of-living crisis continues to erode NI consumer confidence…
- …at the expense of high-value purchases
- Market drivers
- Easing inflation teases interest rate cuts
- Graph 10: CPI inflation rate, 2019 -24
- Two thirds see finances as healthy or OK
- Graph 11: Current financial situation, ‘Healthy/OK’, April 2022 – February 2024
- Number of consumers worse-off year-on-year is falling…
- Graph 12: how consumers rate their financial situation compared to 12 months ago, 2022-24
- …but more are still worse-off financially in 2024 than better-off
- Higher prices could signal more domestic and budget-friendly trips
- Income squeeze gives rise to strikes across travel sector
- One in five expected no holidays in 2024
- Graph 13: intentions for holiday bookings in 2024, 2023
- Fewer are willing to compromise on holiday spend
- Holidays needed for mental wellbeing
- Climate change is impacting holiday planning
- Travel agencies rally under uncertain markets
- Sustainability not the top priority…
- Graph 14: expectations for brands to take the lead on sustainability issues, 2024
- …but rather an underlying expectation
- EU cracks down on short-term rentals
- EU’s pending Entry/Exit Scheme (EES)…
- …and EU Travel Information & Authorisation System (ETIAS)
- Internet devices deliver in-home and out-of-home browsing
- Graph 15: device ownership, 2019-24
- Italy and Turkey launch digital nomad visas
- EU’s Digital Services Act and the knock-on effect of gatekeeper compliance
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What Consumers Want and Why
- Main holiday intentions
- In RoI, just one in ten are opting out of any holidays
- Young families in NI struggling to make holiday plans
- Graph 16: dual-parent families with holiday plans for 2024, by age, 2024
- Finances a clinical factor in holiday decisions
- Graph 17: consumers who plan to take a holiday in the next 12 months, by financial situation, 2024
- Some struggling consumers are hesitant to say no
- Most have an idea on where they will go
- Graph 18: main holiday destination in the next 12 months, 2024
- Overseas trips prioritised for the main holiday
- Responsibilities at home limit main holiday bookings overseas
- Parents more likely to show holiday  uncertainty
- NI not considered a holiday hotspot for RoI residents
- Booking period
- Nearly half in NI booked before the end of March
- Graph 19: when consumers plan to book their main holiday, 2024
- NI holidaymakers are planning earlier
- Graph 20: Consumers who have already booked holidays overseas as of March, by destination, 2024
- Interest rate volatility limits more early bookings in NI
- Holiday booking channels
- Online bookings make up the majority
- Graph 21: how consumers booked/will book their main holiday, 2024
- Men much more likely to book using desktops
- Graph 22: how consumers booked/plan to book, by age group, 2024
- Smartphone channel key for under-34s
- Graph 23: how consumers booked/plan to book, by age group, 2024
- Still a market for traditional booking methods
- Travel brands that promote convenience and security will appeal to holidaymakers
- Strong demand for beach resort holidays
- Graph 24: type of holiday planned in the next 12 months, 2024
- Sheer variety of beach holidays appeals to a wider audience
- Beach, rural and camping holidays show greater appeal among parents
- Attitudes towards holiday planning and booking
- Most would take frequent holidays if they could
- Graph 25: agreement with statements related to holiday planning and booking, 2024
- People take holidays to escape stress
- Build the stress-free component into planning
- Lengthy booking processes have consumers checking other sites
- Bridging inspiration and booking…
- …with young consumers looking to their peers for inspiration
- Authentic and exclusive experiences hold greater value in RoI
- Gen Z’s emergence signals a pending change in NI’s holiday sector
- Graph 26: agreement with statements related to holiday planning and booking, by generation, 2024
- Two thirds stick to holiday budgets…
- …providing possible scope for longer-term financial planning and support
- Empty-nesters underutilising luxury
- Targeting empty-nesters by rethinking luxury
- Sustainability matters, but does it influence choices?
- Uncertainty impacts travel decision making
- Graph 27: agreement with statements related to holiday planning and booking, 2024
- Travel preparation key to combatting uncertainty
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Competitive landscape
- Launch activity and innovation
- New Distribution Capability (NDC) set to modernise airline booking…
- …by integrating real-time updates and comprehensive service options
- Generative AI disrupting travel planning
- Tourism Ireland promotes IoI as a luxury destination
- NI named the best golfing destination in Western Europe
- Golfing holidays are not just about the golf
- Tourism Ireland further invest in their ‘Fill your heart with Ireland’ campaign
- IoI tourism authorities collaborate in an all-island sustainability approach
- DiscovAR with Dublin Discovery Trails
- Expedia Group integrates loyalty program across platforms
- Biometric identification moving forward with Aruba’s Happy One Pass (HOP)
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Appendix
- Supplementary data
- Market forecast – air passenger flow – volume
- Commercial flight departures in RoI, scheduled and unscheduled
- Report scope and definitions
- Abbreviations and terms
- Methodology
- Consumer research methodology
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