REPORT: TOURISTS TO MAINTAIN OR INCREASE TRAVEL SPENDING IN 2024

TOURISTS ARE PROJECTED to maintain or increase their travel spending in 2024 compared to the previous year, according to American Express Travel’s “2024
Global Travel Trends Report”. Approximately 84 percent of respondents from countries including the U.S., Australia, Canada, India, Japan, Mexico, and the U.K.
anticipate spending the same or more, with 77 percent prioritizing the quality of their travel experience over cost considerations.

“Travelers are focused on creating the right itineraries and building memories, whether that means booking a trip to see a favorite sports team compete or taking
a once-in-a-lifetime expedition cruise,” said Audrey Hendley, American Express Travel’s president. “Our ‘Global Travel Trends Report’ sheds light on what is
driving global travel bookings and provides inspiration for where to go next.”

About 65 percent of respondents express greater interest in embarking on a major trip in 2024 compared to previous years, the report said. Additionally, 72 percent
prefer saving money for a major trip over spending it on social outings with friends. More than half of respondents intend to save for a major trip over a span of
six months to two years.