Trends in Australian and Global Tourism Expenditure for 2024

In a surprising turn of events, the global cruise and airline industries have experienced a significant rebound in 2024, with nine out of 10 record-breaking spending days occurring this year. According to the latest report from the Mastercard Economics Institute (MEI), increased tourism spend trends and air traffic have propelled this momentum despite economic pressures.

The report highlights that Australian travellers are leading the pack as the biggest global spenders on nightlife and experiences, allocating one out of every five dollars on these activities in 2024. This trend reflects a growing interest in meaningful experiences over material purchases among consumers.

Australia itself has also seen a surge in tourism interest, ranking seventh in the list of top travel destinations over the past 12 months. International visitors to the Asia-Pacific region are opting for longer stays and prioritizing experiences during their trips.

Moreover, Australia and New Zealand have witnessed an increase in tourism spend trends, with tourists spending more on fine dining and luxury apparel compared to previous years. This indicates a shift towards experiential travel and a willingness to splurge on unique experiences.

The Asia-Pacific region as a whole is experiencing a rise in travel, with five out of the top 10 trending destinations located in this area. Japan leads the pack as the top-ranked global destination, followed by Ireland, Romania, Italy, and Spain. This resurgence in travel activity bodes well for the tourism industry and travel advisors who can expect continued growth in the coming months.