7
2024 | DESPITE MORE POSITIVE SPEND INTENTIONS FROM CONSUMERS FOR 2024, ACTUAL SPEND IN 2024
ENDED UP BEING MORE MUTED, WITH A HIGHER PROPORTION OF CONSUMERS SPENDING LESS THAN 2023
24%
16%
22%
7%
20%
17%
20%
44%
36%
44%
38%
25%
16% 20% 17%
16%
4%
5%
2%
2023 - Planned
3%
2023 - Actual
3%
2024 - Planned 2024 - Actual
Did not answer
Much more
More
The same
Less
Much less
ARE YOU SPENDING 'LESS', 'THE SAME' OR 'MORE' ON TRAVEL AND HOLIDAYS THIS YEAR (2024)
COMPARED TO THE PREVIOUS YEAR (2023)?"
KEY INSIGHTS
• Since the post-COVID "revenge travel" peak in
2022, travel spend by consumers has become
more challenged
• As late as January 2023, consumers were still
very optimistic on how much they would spend
on travel during the year (net +22), however, what
consumers said they actually spent in 2023 was
far lower than they predicted (net -25)
• While consumers again felt more positive
coming into 2024 ('only' net -10), their actual
spend was again lower than they predicted (net 21)
• Consumer confidence in the UK generally has
been low throughout most of 2024, with the
uncertainty of the new financial policies following
the general election, and inflation still high (albeit
coming back down towards long-term levels later
in the year).
Source: AlixPartners 2024 Consumer Priorities Survey
+22 -25 -10 -21
2023 2024
Net score
LOOKBACK ON 2024