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02/02/2024

Updates 02/02/2024: Ohio's Travel Industry and Current Travel Research

FOCUSING LESS ABOUT VISITING AND MORE ABOUT LIVING THE EXPERIENCES CONTINUES TO BE A TOP RECOMMENDATION

Key observations from MMGY’s US Travel Compass: 2024 Industry Outlook released Jan. 30:

  • Authentic social media content that gives potential visitors an exciting taste of what they’re missing is paramount, even if that taste is something soothing and relaxing.
  • Provide themed itineraries and immersive excursions.
  • Create ways to extend event-driven travel. How do you create related experiences to keep people in town longer?
  • Go after niche markets where you can excel.
  • Highlight experiences you can only get from touching, seeing, smelling and tasting firsthand.
  • Consider partnering with a local community nonprofit that is consistent with your brand to support your community.
  • Continue to highlight locally-owned and locally-produced. It’s important to visitors.
  • Continue to be involved in making your community a better place to live, as well as to visit.

DEMAND FROM REVENGE TRAVEL BEING REPLACED BY DEMAND DUE TO PRIORITIZING TRAVEL AND EXPERIENCES; TARGETING MARKETING EFFORTS REMAINS KEY TO ATTRACTING BUSINESS

Key observations from Deloitte 2024 Travel Outlook:

  • Travelers are shifting from making up for lost travel due to the pandemic to prioritizing travel.
  • Leisure travel grew in 2023 and is anticipated to continue growth in 2024.
  • Corporate travel continues to recover, but business leaders are expected to closely manage travel budgets due to the economic and political environment. 
  • If the economy hits a rough patch, there may be fewer lower-income households traveling; American travelers may shorten the number of trips, lengths of stay and distance traveled; younger and lower-income travelers may stay with friends and relatives versus paid lodging.
  • Marketers will need to create a more targeted approach for attracting visitors.

Additional Market and Industry Updates

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