Tuesday, May 21, 2024 The travel industry is on a roll in 2024, with people spending more and traveling further. A new report by Mastercard Economics Institute says this is great news for many economies, especially those in the Caribbean. Island Hopping in the Caribbean The report shows that four Caribbean destinations are top picks for American travelers this summer.
These are Oranjestad, Aruba; Punta Cana, Dominican Republic; San Juan, Puerto Rico; and Santiago, Dominican Republic. Oranjestad even cracked the global top ten for trending destinations! Affordability Makes a Splash The report says that Caribbean islands with good deals on hotels are doing especially well. Tourists are staying longer and spending more in these places.
For example, the average stay in Barbados is now 8.5 days, up from 7.8 days in 2020.
This is likely due to affordability and the nice weather. Global Trends: Longer Trips, Record Numbers All over the world, people are taking longer vacations – an average of 5.5 days in 2024 compared to 4.
5 days in 2020. The first half of this year saw record numbers of Americans traveling internationally, with over 15.9 million jetting off between January and March.
This shows how well the travel industry has adjusted to new travel habits and what people want. Experiences over Souvenirs Travelers today are more interested in making memories than buying stuff. In fact, experiences now account for 12% of all tourism sales, the highest level in at least five years.
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