phocuswright.com

✈ 65% of U.S. travelers flew in the past year, a decrease from 68% the previous year. Age differences emerge in travel planning, with 18-34 year olds more likely to use social media for transportation decisions than those 55+. Direct online booking is preferred by older travelers, while under-55s opt for OTAs. Cost concerns may affect future air travel decisions. Key themes include the role of social media and booking channels in travel, performance of air loyalty programs, and consumer sentiment on future air travel. Data reflects travel up to July 2024.

🏕 The report analyzes travel tech funding, including companies founded over the past 30 years and tracks funding from the start of 2014 to 3Q24. In mid-2024, Phocuswright enhanced data collection, nearly doubling the company count from prior reports. The 2023 edition expanded the founding date range due to well-established companies raising significant funds. To maintain focus, firms with over $4 billion funding or only peripherally involved in travel, like Uber and Airbnb, were omitted, excluding $117.3 billion raised by 35 such entities. Publicly disclosed venture capital, private equity, crowdfunding, and debt were considered, while IPOs and post-IPO investments were not.