Published: May 30, 2024 | Updated: October 29, 2025
2024 is shaping up to be a strong year for the experience economy, according to The Mastercard Economics Institute’s fifth-annual travel report, Travel Trends 2024: Breaking Boundaries.
Nine out of the last 10 record-setting spending days in the global cruise and airline industry have occurred in 2024, and the Mastercard Economics Institute anticipates this momentum will continue. For the travel industry, tourism and the resilient consumer are the bright spots in the global macroeconomy with more people traveling than ever before.
The surge in travel sector spending reflects a strong labor market and a desire to travel.
Tourists worldwide are spending an extra day on vacation on average.
Consumers continue to prioritize meaningful experiences over material goods, even when traveling.
Cruise travel demand is booming as a more budget-friendly getaway option.
Here’s how the dynamics are playing out in the Middle East and North Africa:
Consumer spending on travel remains strong. Some behaviors stand out:
Tourists and leisure travelers are enjoying more time on vacation. Here are some of the impacts: