Most travelers in Europe are trying to cut costs amid high living costs and inflation
More than half of Europeans (54%) believe they will have more money to spend on travel in 2024 than last year, despite continued pressure on the cost of living.
This compares to just 11% who say they will have less to spend, according to new research from Accor. However, the vast majority (87%) are taking steps to cut costs wherever possible due to inflation and rising costs of living, Travel Weekly reports.
From choosing more affordable accommodation (27%) to cutting back on spending (27%), the study found that austerity measures could affect travel offers next year.
Only 12% of respondents were influenced by destinations they saw on social media - the same as those influenced by travel agency advice.
The report, based on a study of 8,000 travelers from seven European countries, including the UK, shows that the number of overseas leisure trips people expect to take is up slightly on last year, and international "work" or "leisure" trips - trips that combine business and leisure - will also see an increase.
One in five European travelers (19%) plan to take at least one work-life trip in 2024 due to more flexible working arrangements.
As reported by TravelWise, American travelers are the fastest growing national group of tourists in Greece.