Gen Z Travelers Drive 20% Increase in Buy Now, Plan Later Bookings: Fliggy’s 2024 Travel Insight
Hanzhou, China – In a groundbreaking revelation, Fliggy, a prominent online travel services platform, has unveiled its 2024 Buy Now Plan Later (BNPL) Travel Insight, showcasing a remarkable surge in travel bookings using this model. The data indicates a significant rise of over 20% in the volume of BNPL travel products purchased in 2024 compared to the previous year. This surge is predominantly fueled by a younger demographic, with Generation Z travelers constituting nearly a quarter of the users opting for this innovative purchasing approach. It appears that planning travel through the BNPL method has now become a mainstream trend in the travel industry, revolutionizing the way people approach booking their vacations.
Great Cost Savings with Greater Flexibility
The ‘Buy Now, Plan Later’ concept involves consumers purchasing various travel products, such as flights, hotel stays, and attraction tickets, well in advance. This unique model allows travelers to secure these options for future use, redeemable once they finalize their travel dates and destinations. Not only does this method provide substantial cost savings compared to traditional direct booking, but it also offers the added benefit of flexibility, with many options allowing for full refunds without any restrictions before the reservation is confirmed. As Acton Chou, Head of BNPL Product Operations at Fliggy, aptly puts it, “Looking ahead in 2025, the recreational tourism market is expected to experience steady growth in both scale and consumer spending,” emphasizing the strategic advantages of the ‘Buy Now, Plan Later’ model in enhancing customer engagement and spending willingness.
Hotel Fulfillment Rates Soar by 70%
The latest insights from Fliggy reveal a notable uptick in outbound tourism within the BNPL travel segment in 2024, with hotel booking fulfillment rates for outbound travel skyrocketing by an impressive 70% year-on-year. An intriguing trend observed is the expansion of popular travel destinations from a mere four-hour flight radius to an extensive twelve-hour flight radius from China. Some of the top destinations for BNPL orders in 2024 include Malaysia, Singapore, Thailand, Japan, South Korea, the Maldives, New Zealand, Australia, the United States, and Indonesia. Moreover, emerging destinations like Iceland, Norway, Kenya, the United Kingdom, and New Zealand have witnessed rapid growth, highlighting the evolving preferences of travelers in the current landscape.
International Cruise Bookings Witness Threefold Surge
The travel landscape in 2024 has witnessed a diverse array of experiences, with consumers venturing to breathtaking locales such as Bomi in Tibet, embarking on self-driving expeditions across New Zealand, and indulging in luxury cruises to witness spectacular wildlife through polar tours. Notably, there has been a substantial increase in demand for international cruises, overseas car rentals, and tickets to overseas amusement parks. The volume of international cruise bookings has experienced a staggering threefold growth year-on-year, underscoring the evolving preferences of travelers seeking unique and immersive experiences beyond conventional vacation norms.
Empathy Section
As we navigate the ever-changing landscape of travel and leisure in the digital age, the rise of innovative booking models like Buy Now, Plan Later signifies a paradigm shift in how consumers approach their vacation planning. With the increasing emphasis on flexibility, cost savings, and personalized experiences, it’s evident that the travel industry is evolving to cater to the diverse needs and preferences of a tech-savvy generation. Whether you’re a seasoned traveler or someone embarking on their first adventure, the world of travel awaits with a myriad of possibilities to explore. So, next time you plan your getaway, consider the convenience and benefits offered by the Buy Now, Plan Later model to make your travel dreams a reality. Remember, the journey is just as important as the destination, so why not embark on a new adventure with a fresh perspective and an open mind? The world is waiting to be discovered, one trip at a time.
