Jamaica has found itself excluded from the top-10 trending travel destinations for Americans during 2024, according to the latest report from the Mastercard Economics Institute.

The report, titled ‘Travel Trends 2024: Breaking Boundaries’, sheds light on the evolving dynamics of the travel industry across 74 markets worldwide. It has highlighted Oranjestad, Aruba (second); Punta Cana, Dominican Republic (fifth); San Juan, Puerto Rico (sixth); and Santiago, Dominican Republic (10th) among the top destinations in the Caribbean for American travellers from June to August 2024.

Globally, Oranjestad, Aruba, secures the 10th spot on the list of trending destinations for the specified period. Conversely, Punta Cana emerges as the eighth top trending destination for Latin American travellers this summer.

The report highlights the growing preference for destinations with affordable hotel options, a factor contributing significantly to their success and ultimately benefiting their economies.

“Over the past 12 months through March 2024, the Caribbean countries whose hotel sales are growing the quickest tended to be relatively more wallet-friendly. We segmented 30 Caribbean markets into two categories — the markets with the highest and lowest hotel prices — and tracked their sales performance. While the travel recovery has been advancing across the entire Caribbean, hotel sales in the islands with relatively more affordable hotel options were the outperformers,” the report said.

Meanwhile, in the countries with relatively higher prices catering to higher-income individuals, hotel sales relatively underperformed the more affordable destinations, according to the report.

“This could be driven by the “wealth effect”. Due to stock market declines throughout 2022, higher-end hotel sales relatively lagged in 2023. For context, by January 2023, the US stock market was roughly 13 per cent below its prior peak. At the same time, hotel sales in pricier destinations also flattened somewhat. But since then, the US stock market has recovered nearly 25 per cent. The gap in hotel sales for the relatively more expensive destinations has narrowed, catching up to the relatively less expensive areas,” it continued.

Overall, spending on travel is said to have remained robust, with significant increases in American passenger traffic observed through March 2024.

Despite Jamaica’s absence from the top-10 list, the travel recovery in the Caribbean region is advancing, with countries boasting relatively more affordable hotel options experiencing exceptional performance, ultimately benefiting their economies. Noteworthy increases in the time spent on vacation further underline the region’s appeal, with destinations like Barbados witnessing a rise in average vacation duration.

In looking at the change in the number of visitor arrivals relative to 2019 (February 2024 trailing 12 months vs February 2019 trailing 12 months), The Bahamas has experienced a large inflow of cruise visitors: an additional 2.9 million passengers coming by sea and an extra 122,000 by air, the report said.

At an international level, there’s been a notable increase in the time spent on vacation, climbing from 4.5 days in 2020 to 5.5 days in 2024. In the Caribbean, for instance, time spent in Barbados rose from an average of 7.8 to 8.5 days, respectively. The increase is due to key factors, including affordability and climate.

“The resilience and adaptability of the travel sector paired with persistent consumer demand will mean a thriving 2024 for tourism. Just like at home, travellers are prioritising experiences over goods while abroad,” said Michelle Meyer, chief economist and head of the Mastercard Economics Institute. “Yet today’s travellers are discerning, choosing destinations that offer both value and authenticity. They are savvy enough to stretch their funds and extend their stays, immersing themselves fully in the wonders of each locale.”

Jamaica was last named on Mastercard’s top-10 travel list for American travellers in 2022 during the heights of the pandemic. The country was said to be favoured over other destinations at the time owing to less-stringent mobility restrictions and a concerted push to attract “remote workers” and “digital nomads” which spurred an influx of tourists.

In recent times, hoteliers and tour operators have raised concerns over the United States’ State Department travel advisory in January, which warned American citizens to be careful when travelling to Jamaica due to medical concerns and crime.

Nonetheless, Mastercard’s report paints a promising picture for the global tourism sector, citing record international travel numbers, an increasing preference for experiential travel, and a resurgence in cruise travel.

Drawing on a unique analysis of aggregated and anonymised transaction data, including Mastercard SpendingPulse™, and third-party data sources, the report takes a deep dive into key travel trends globally for the year and beyond, including:

• Record travelling: An all-time high of 15.9 million Americans travelled internationally in Q1 2024.

• Leisure for longer: Tourists are extending vacations by a day on average, influenced by affordable destinations and warmer climates.

• Experience economy on the go: Consumers now prioritise experiences over material goods while travelling, representing 12 per cent of tourism sales — the highest point in at least five years.

• Cruising full steam ahead: Cruise travel is surpassing pre-pandemic demand levels, driven by affordability compared to hotels.

• Top-10 trending destinations: Japan leads in tourist activity, while Munich tops the list for summer tourism. Albania ranks third for a European country at a lower cost.