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Travel Demand Surges for the Holidays in Puerto Rico

Thursday, December 05, 2024 Research

Positive booking patterns show a strong start to the holiday season

According to AirDNA's booking pace tool, as of November 18, rental night reservations are at a faster pace than last year for the next three months. Currently, the number of rental night bookings is 16% higher than last year's number of stays in December. In January, the increase is 22%, and in February, it's 6%.

All regions individually have more rental nights booked right now than last year, except the Northern region listings for February. The booking window for most rentals is typically about 30 days or less, so there are plenty of bookings left to be made. The most popular regions for holiday and early-year bookings include the east and west coasts of the Island, which together account for just under half of all nights booked. Additionally, the metro area contributes between a quarter and a third of future rental nights booked, historically benefiting from last-minute travel bookings compared to other regions.

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BOOKED NIGHTS GRAPHICS

According to the most recent “American Traveler Sentiment Study,” prepared by Longwoods International and Miles Partnership, following the results of the 2024 presidential election, one in four American travelers report they will travel more in the U.S. in the coming year, and 7% will travel more internationally. In contrast, only 8% said they will travel less domestically, and 3% will travel less internationally during the next 12 months. The survey was fielded on November 7, 2024, using a national sample randomly drawn from a consumer panel of 1,000 adults ages 18 and over.

“The boost in the intent to travel may well be a result of optimism about the U.S. economy as a result of the 2024 presidential election,” said Amir Eylon, President and CEO of Longwoods International. “In fact, 43% of travelers believe they will be better off the next four years versus 21% who think they will be worse off.”

During the holiday season, 57% of travelers plan to drive to their destinations, while 28% intend to fly, influenced by rising inflation concerns.

eLECTION RESULTS AND DOMESTIC TRAVEL GRAPHICS

Despite travelers’ optimism about the U.S. economy, inflation concerns have steadily risen throughout 2024. Currently, 31% of travelers say overall inflation will significantly impact their decision to travel in the next six months, up from 26% in January. The study concludes that among those traveling, 22% confirm that inflation won’t affect their travel plans at all (+5 points vs. last year), but 9% of Americans are opting not to travel in the next six months (+3 points).

Most travelers plan to cut back on spending by limiting food and beverages (30%), entertainment (29%), the number of trips (28%), and staying closer to home (27%). However, these trends of reducing travel spending are lessening compared to a year ago. Notably, 36% of travelers intended to cut back on retail purchases last year, whereas this year, only 24% plan to do so (-12 points).

When comparing data from the beginning of the year to November, the study found no significant change in travel plans for the next six months (92%). Nearly a third of respondents are concerned about their personal financial situation, unchanged from last January, and concerns about transportation costs or gas prices remain stable or have decreased.

IMPACT OF INFLATION AND TRAVEL GRAPHICS

In keeping with the latest travel trends, Future Partners recently surveyed American travelers regarding whether they choose travel destinations based on locations from TV series or movies. The study suggests that 31.4% of travelers were, in fact, influenced by TV series locations, movie locations, or both. Series like “Bridgerton,” “The White Lotus,” and “Wednesday” have boosted European tourism in their respective countries.

This applies to Puerto Rico. We have an impressive resume of entertainment projects filmed that will spark your next travel inspiration. According to Discover Puerto Rico’s Chief Marketing Officer, Leah Chandler: “When people see a film showing a destination in a long-form example, they really get the opportunity to see themselves there… we want to walk in their footsteps, visiting the places that they once stood, there is something really magical.”

From fast cars and superhero cinematic universes to comedies and long-standing epic spy series, you can visit filming locations around the Island with ease. For a full list of entertainment projects filmed in Puerto Rico and the best travel planning tools, please visit our website at www.discoverpuertorico.com or click here!

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