2026年旅游趋势报告：全新旅游发展逻辑：宏观环境、数字技术与出行动机 TRAVEL TRENDS 2026 The new travel equation Macro,machines,motivation

mastercardeconomicsinstitute

Thenewtravelequation:Macro,machines,

motivation

TRAVELTRENDS2026

3Travel2026

4Theexternalforcesshapingtravel

8FXsensitivityacrossdestinations

10AI-enabledtraveler

12TheintentionalAItraveler

15Personalmotivationsfortravel

17Thejourney,notthedestination

19Conclusion

2

Contents

●INTRODUCTION

Travel2026

Traveloftenstartswithavisionofadestination.In

2026,thatvisiontakesshapeinamoreunsettledworld.Geopoliticalconflicthasbecomepartofthebackdrop,

shapingroutes,costs,andsafetyperceptions.Disruptionstoenergysuppliesandairspacehavealreadytranslated

intofewerscheduledflightsonsomecorridors,reroutedconnections,andtheriseofalternativetransithubs,

particularlyacrossAsia‑Pacific(AP)andpartsofEurope.

Yet,theimpulsetotravelendures.Familiarmotivations

likeclimate,cuisineandculturestillmatter,nowweighed

alongsidenewconstraints.Wheretogoremainsimportant.Howtogetthere,andatwhatcost,increasinglydefinesthejourney.

Againstthatbackdrop,budgetsultimatelydictatethespecificsofthetrip.Valueistopofmindfortravelers

—particularlyamidrisingenergyprices,volatileforeign

exchangerates,anddivergingincomegrowth—buttravelerscanoptimizetheirtraveldecisionsbyleveragingdigitaland

AI‑driventools.Andoncetravelersreachtheirdestination,

theirspendingdecisions—whetherforaccommodations,

food,historyorretail—willoftenreflectunderlyingeconomicandculturaldifferences.

TheMastercardEconomicsInstitute(MEI)sees

macroeconomicandgeopoliticalconditions,rapidadvancesinAI,andpersonalmotivationasthreekeyforcesshapinghowandwhereconsumersspendwhentheytravel.

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4

●TRAVELREPORT2026

Thesethemesemergedfromourresearch:

Theme01Theexternalforcesshapingtravel

Economicandgeopoliticalforceshavecometotheforefrontfortravelersoverthepastyear.TheconflictintheMiddleEast,shiftingforeignexchangemarkets,andtherisingfortunesofdifferentindustrieshavealreadychangedtravelplansandmaycontinuetoinfluencetravel

patternsforsometime.Thesedynamicsarevisibleinhowflightscheduleshaveshiftedoverthepastyear,asairlinesandconsumersnavigatedisruptionsandheighteneduncertainty.

Ouranalysisofinternationaltourismdatashowsthatadestination’sstrongercurrency

tendstoslowinboundtravel,thoughthemagnitudeoftheeffectvarieswidelybymarket.

Travelpatternsarealsoshapedbytheunevenperformanceofindustriesacrossregions,withcorporatetravelspendingtakingalargershareinemergingglobalbusinesshubssuchasAbuDhabiandseveralIndiancities.Whethergeopoliticsultimatelyreinforcesordisruptsthese

existingtrendsisoneofthekeyquestionsfortravelin2026.

Theme02AI-enabledtraveler

AIisbeginningtoshapehowconsumersdiscover,plan,andprioritizetrips,sothetravel

economyiswellplacedtoseizeuponAIinnovation.AnalysisofMastercard’sanonymizedandaggregateddatashowsthatsubscriberstoAIplatformsdedicatedalargershareoftheir

spendingtotravel.AIplatformsappeartohelpconsumersseekoutoffthebeatenpath

locations,withmanydestinationsseeingtravelspendingdisproportionatelydrivenbyAI‑

subscribingtravelers,suchasPerth,AustraliaandLeipzig,Germany.Fortravelandhospitalitycompanies,thispointstoagrowingroleforAItohelpdeepenpersonalizationfortravelers.

Theme03Personalmotivationsfortravel

Oncetravelersreachtheirdestination,theirprioritiesshowupclearlyinhowtheyspendtheirmoney.Ouranalysisshowsthateveninthesamemarket,internationaltravelersallocate

theirspendingverydifferentlydependingonwheretheycomefrom.Japanillustratesthis

divergencewell:ofitstopsourcemarkets,Britsassignalargeshareofspendingtolandtravel,Singaporeanvisitorsprioritizeretail,andKoreantouristsdevotealargerthanaverageshare

oftheirbudgettonightlife.Thesepatternspointtotwogroups:travelersseekingimmersioninthelocalcultureandthosewhotravelforaspecificexperience,beitshopping,nightlifeoran

event.Wealsoseesignsthatthejourneyitselfisbecomingpartoftheexperience,withtraintravelpickingupandanemergingnicheofpreferenceforluxurytrains,potentiallyreflectingadesireformoresustainabletravel.

Thesetrendsarenotstatic.

Intoday’senvironment,theconflictintheMiddleEasthasshownhowquicklytravelpatternscanshiftthroughdisruptionstoenergysuppliesandflightroutes,increasedfinancialmarketvolatility,andimpactstoconsumerconfidenceandspendingdecisions.Externalshocks

continuetoreshaperelativeaffordabilityandconnectivity,reinforcingtheneedtomonitorhowtravelrespondsaseconomicconditionsevolve.

Thepathaheadislikelytobeuneven.Butconsumershavebeennimbleinrecentyearsin

thefaceofothereconomicandgeopoliticalshocks.AI‑driventoolsthatexpandtheoptions

forwhereandhowtotravelmaybehelpfulinweatheringthisshock.In2026,thetravel

economywillbecharacterizedbyadaptability,astravelersbalanceprioritiesagainstashiftingeconomiclandscape.

●THEME1

01

Theexternalforcesshapingtravel

Whiletraveldecisionsfeeldeeplypersonal,theyareshapedbyeconomic,politicalandotherexternalforcesbeyondindividualcontrol.In2026,theinfluenceofexternalforcesontravelismorevisiblethaninmostyears.Acombinationofgeopoliticaluncertainty,shiftingexchangerates,andrisingenergypricesareshapingglobaltourismthisyear.Together,theseforcesareinfluencingtraveldecisionsacrosstheleisureandcorporate

segments.

Forinternationaltravel,movementsinforeignexchangeratesdirectly

affecttherelativeaffordabilityofdestinations.MEI’sanalysisofpubliclyavailabledatashowsthat,evenafteraccountingforothereconomic

factors,exchangeratechangeshaveaclearimpactoninboundtourism.Thesensitivityvariesbydestination,withArgentinaandTürkiyeamongthemostresponsive,whileforeigntraveltotheUnitedStatesshowsamuchweakerrelationshipwithdollarmovements.

Inarapidlychangingglobalenvironment,airlineshaveadjustedcapacitythisyeartoreflectnotonlyshiftsinconsumerdemandbutgeopolitical

tensionsandrisingcosts,includinghigherjetfuelprices.UsingdatafromOAGasofApril24,theMastercardEconomicsInstitutecalculatedhowthenumberofseatsscheduledforinternationalflightsthissummer

hasshiftedoverthepastyear.TheresultspointtowardstabilityandresilienceinthefaceoftheconflictintheMiddleEast.

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●THEME1

6

Accordingtoourresults,theParistravelseasonisshapinguptobe

astrongonethissummer.TheFrenchcapitalisseeingthestrongest

growthrelativetolastyear’ssummerschedule,toppingalistaheadoffourotherEuropeandestinations.AbuDhabi’sappearanceamongtheleadersmaybesurprisinggiventheongoingconflictintheregionbutlikelyreflectsairlineexpansionplansthatwereputinplacebeforethewar.AsimilardynamicappearstobedrivingAddisAbaba’sranking.

Morebroadly,partsoftheworldareshowingsignsofincreased

regionalism.InLatinAmerica,flightscheduleshavemovedtoward

nearbycitiessuchasPanamaCity,Bogotá,andBuenosAires,while

EuropeantrafficisshiftingtowardParis,AmsterdamandBarcelona.

However,wedoseeafewU.S.destinationspopupamongthetoptenforEuropeantravelers,hintingatincreasedcapacityforthesummerofsoccer.Atthesametime,Europeandestinationsareleadingschedule

growthforflightsdepartingfromtheUnitedStatesandCanada.

Summertravel:schedulesareadaptingtothegeopoliticalenvironment

Rankingbasedonyear‑over‑yearchangeinscheduledseatsfortravelbetweenJuneandSeptember

SOURCE:OAG,MASTERCARDECONOMICSINSTITUTE

●THEME1

7

Thesedynamicsextendbeyondpersonaltravel.

Businessesarealsonavigatinganuncertainmacrobackdrop,adjustingtraveldecisionsinresponse

tohighercosts,volatileenergypricesandshifting

demandconditions.MEIusedMastercard’s

aggregatedandanonymizeddataonairline,hotel,andrestaurantspendingacrossseveralmarketstochartthehealthofcorporatetravelhubs.Todoso,wecreatedameasureofshiftsinthedistributionofbusinessandleisuretravelatdifferentdestinations.Thatmetriccombinesdataontheshiftsinthe

corporateshareoftotalinternationalspendingonhotelsandrestaurantsatadestinationfrom2024to2025andtheshiftinthecorporateshareof

airlinebookingstothatsamedestinationoverthesametimeperiod.

AbuDhabiwastheleaderonthismetricin2025

astheUAElookedtostrengthenitsstandingas

aglobalbusinesshub.Theoutlookforthishubis

nowmoreuncertaingiventheconflictintheMiddleEast.Elsewhereamongtheleaders,Indiasawariseinthecorporatemixoftravelspendingwithfour

citiesamongthetop20.Aswithmuchoftravelin

2026,thekeyquestioniswhetherthesepre‑existingpatternsprovedurable,orwhethergeopolitical

disruptionsultimatelyreshapecorporatetravelhubsmorefundamentally.

Note:Thebusinessvs.leisuremomentumindexisa

metricthatcombinesdataontheshiftsinthecorporateshareoftotalinternationalspendingonhotelsand

restaurantsatadestinationfrom2024to2025andtheshiftinthecorporateshareofairlinebookingstothat

samedestinationoverthesametimeperiod.

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●THEME1:SUBTHEME1

FXsensitivityacrossdestinations

•Justassomepeoplefeeltemperaturechangesmoreintenselythanothers,tourisminsomecountriesismoresensitivetoexchange

ratemovements.ThesamepercentchangeinFXleadstoamuch

largerchangeininternationalarrivals,meaningchangesinfinancialmarketshaveoutsizeimportanceforsomemarkets’tourism

outlook.

•Togetabetterunderstandingofthissensitivity,MEIadapteda

methodologyusedinotherresearchontherelationshipbetweenexchangeratesandinternationaltourism1anduseddatacoveringfrom1996through2025.

•Onaverage,ouranalysisfoundthata10%depreciationina

destinationmarket’scurrencywasassociatedwitha2.4%increaseinforeigntourism.However,thatsensitivitydiffersquiteabitby

destination.

●THEME1:SUBTHEME1

9

•TurkiyeandArgentinawerethemostsensitivemarketsaccordingtoouranalysis,withresponsesbetweenfourtofivetimeslargerthan

theaverageresponse.A10%dropinthevalueoftheTurkishlirais

associatedwitha11.4%increaseininternationalvisits,andasimilardepreciationintheArgentinepesoislinkedwitha9.5%increasein

foreigntouriststoArgentina.

•Bycontrast,inboundtourismtotheU.S.showslessFXsensitivity:

foreignvisitswouldonlyincrease1.4%followinga10%depreciationoftheU.S.dollar.

Tourismsensitivitytoforeignexchangevarieswidelybymarket

Increaseinforeigntourismassociatedwitha10%depreciationindestinationcurrency

Note:Resultsfromaselectsetofmarkets.

SOURCE:MASTERCARDANALYSISOFDATAFROMTOURISMBOARDS,EUROSTAT,ANDSEVERALCENTRALBANKS,MASTERCARDECONOMICSINSTITUTE

●THEME2

02AI-enabledtraveler

Artificialintelligenceisopeningnewhorizonsandreshapingindustries

acrosstheboard,andtravelisnoexception.Frominspirationtobooking,AIisredefininghowpeopleplantripsandmakedecisions.Whatoncerequiredhoursofresearchcannowbecondensedintoaseamlessexperience,whereatraveler’sinterestsaretranslatedintoatailoreditineraryinseconds.Atthesametime,consumersaregrowingmorecomfortablewithAI‑driven

tools.Today’stravelersaremotivatedtofindthebestvalueandmost

attractiveprice,buttheyalsowanttoanticipatetheexperiencebefore

committing.Itisnolongerjustaboutwheretogobutwhatitwillfeelliketobethere.

UsinganonymizedMastercarddata,weanalyzedhowtravelspending

differsbetweenU.S.cardholderswhoareAIsubscribers(measured

byspendingonconsumerAIservices)andnon‑subscribers.Tocontrol

forunderlyingeconomiccharacteristics,particularlyincomelevels,we

constructedamatchedsampleofcardholderswithsimilarspendinglevelsongroceriesandrestaurants.Whilethisshouldreducetheincomedisparity,itwon’tsolveitentirely—surveysshowthatAItoolsaremostcommonly

usedmorebyhigherincome,morehighlyeducatedindividuals.2Other

externaldata3suggestthatAIuserstendtoskewyounger,ademographicmorelikelytoallocatetimeandresourcestowardleisuretravel.

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●THEME2

11

Takingthisintoconsideration,weidentifytwointerestingtrendsintheanalysis:

1.WefindthatAIsubscribersspenddifferentlythannon‑AIsubscribers,particularlyin

travel‑relatedcategories.Thisdifferenceisespeciallyclearinaccommodations(hotels).Usingourtwocohorts,weanalyzedtheshareofwalletforaccommodationsandfoundthatthedistributionisskewedtotherightforAIsubscribers,indicatingahighershareofspendinginthiscategory.ThemeanshareofwalletisnearlydoubleforAIsubscribersthanforthecontrolcohort.Wealsoobserveasimilar,thoughlesspronounced,skewincruisespending,whilethedifferenceforvehiclerentalsisminimal.Incontrast,spendingpatternsforgrocerystoresmatchcloselybetweenthetwogroups.

2.ThedistinctionmayreflecttheroleofAIindiscretionaryversusnecessity‑based

spending.Categoriessuchasgroceries—and,toalargeextent,vehiclerentals—aredriversprimarilybyroutineneeds,leavinglimitedopportunitiesforAItoolstogreatlyinfluencespendingbehavior.Accommodationsandcruises,however,involvegreaterchoiceanddiscovery.AIsubscribersmaybeusingthesetoolstoexploreawiderrangeoftraveloptions,ultimatelyincreasingexperimentationandspendingwithinthose

categories.

Whilethereareavarietyofpotentialcauses—fromdemographicstoincomedifferentials—itisclearthatAIsubscribersareallocatingmorebudgettowardtravel.Thecausalityishardtoprove,butitispossiblethattheavailabilityofAItoolsencouragesgreaterspendingon

travelbystreamliningplanningandreducingthefrictionsinplanningtravel.

Likelihood

AI-subscribersallocateagreatershareofwalletonaccommodationsthannon-AIusers

%ofspendingforAIvs.nonAIsubscribers;chartsshowsthedistributionforeachcohort

(higherpeaksrepresentmorecommonvalues,distributiontotherightshowsahigherwalletshare)

Walletshare

AIsubscribersaredefinedascardholderswithsubscriptionstoconsumerAItools.BecauseAIsubscribersandnon‑subscribersmaydifferinspendingcapacity,wecontrolforthisbyrestrictingthesamplestocardsinthemiddle20%ofcardrankedbyshareofspendingon

restaurantandgroceryspending,ensuringcomparable

SOURCE:MASTERCARDECONOMICSINSTITUTE

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●THEME2:SUBTHEME1

WhereAIgoesonholiday

AIsubscribersarenotonlyoutspendingothercardholdersontravel;they’retravelingdifferently.Theirchoicesrevealadistinctgeographicpattern,onethatdivergesmeaningfullyfromthebroaderpopulation.Tounderstandthis,MEIappliedthesamecomparativeframeworkusedinourinitialanalysis—benchmarkingU.S.cardholderswhohavesubscribedtoAIservicesagainstnon‑subscribers—butshiftedthelenstowhereAIsubscribersaregoing.

Specifically,weidentifieddestinationswherespendisdisproportionately

drivenbyAI‑enabledtravelers,focusingonEurope.MEIdefines

“disproportionatelydriven”tobedestinationswhereAI‑subscribers

accountedforatleasttwicetheshareofvisitorspendastheydoglobally

(lookingathotels,restaurantsandrecreation).Wethenlookatthe

webcontentthatdefinesitsrecommendations,includingthevolumeof

authoritativeeditorialcoverage,richnessofnarrativeframing(forexampleframedasa“destinationdupe”,“hiddengem”,“underrated”,“mostbeautifulplacein”,“bestforaspecificactivity”)andthedepthofcoverageonreviewplatformsandforums.Thesearenotgenericgetaways;theyareplaces

oftenframedas“bestfor”aspecificexperiencewhilealsoappealingtothehyper‑curatordemographicthatwantsnotonlyasunnybeachorskiresort,buttocombinethatwithpicturesquevillages,history,foodandculture.

Thedestinationsareoverwhelminglythosedescribedas“alternativeto”

destinationsor“hiddengems.”Theyhavedetailed,positivecoverageacrossmajortravelpublicationsorblogsrelativetotheirsize,structuredinawaythatmakesthemhighlyvisibletoAI.

●THEME2:SUBTHEME1

13

WecategorizetheAIvisibledestinationsintofourcohorts:

Cultureandhistory,foodandwine,sportsandbeach.Theseareroughcategorizationsasacommonfactoramongthesedestinationsistheirappealacrossmultiplethemes.

Culture&history

AtthetopofthelistisLeipzig,Germany,whereawhopping31%ofU.S.visitorspendingwasdrivenbyAI‑subscribingcardholders.KnownasEurope’scityof

music,Leipzigcombineshistoriccharmwithhipurbanculture,athrivingarts

scene,café‑linedstreets,livelynightlife,trendyshopping,andaffordability.Thecityhasgainedthenicknames“HypeZig”and“NewBerlin”,alongwith“Little

Venice”inreferencetoitsextensiveboat‑filledwaterways.Nextcomesthe

famedcastlevillageCarcassonne,France(24%),Postojna,Slovenia(18%)

famousforitscavesandcliffsidecastle,Metz,France(17%).andMetz,France(17%),withitsiconiccathedral,walkablegreenlayout,andcharmderivedfromamixofbothFrenchandGermaninfluence.

Foodandwine

Orvieto,astunningItalianhilltownknownforitswhitewineandtrufflestopsthelist,with23%ofspenddrivenbyAIsubscribers.FollowingisBeaune(16%)attheheartofBurgandy.Thoughbothareknownfortheirwineandfood,thatisfarfromtheonlyattractioninthesecharminghistoricdestinations.

Sports

TheDolomiteswerepopularwiththeAIenthusiasts,whoaccountedfor

18%ofspendinPinzoloandBrunico,Italy.InSwitzerland,Saanen(17%)isahistoricvillageofquaintchaletsjustminutesfromglitzyGstaadhailedasa

morelaid‑backalternativetoitsmorefamousneighbor.Halmstad,Sweden

iscategorizedasacoastaldestinationbutisalsofamousforbeingthegolf

capitalofSweden.InthesamecampisPenicheinPortugal,acoastalparadisefamedforitssurfing.

Beach

TheleadingbeachdestinationwasConildeLaFrontera(41%),awhitewashedfishingtowninSpain’sCostadeLuz.Thissunnydestinationcombinessandy

beaches,ahistoricoldtown,andfabulousseafood.AI’snextfavoritebeaches

werePatmos,GreeceandPantelleria,Italy(18%),Andros,Greece(16%).Thesetoooffernotonlybeachesbutarchitecture,history,food,andculture.

●THEME2:SUBTHEME1

14

“Alternativeto”destinationsoverallfeatureprominentlyonthelistfor

AIusers(alsoknownas“destinationdupes”).Thisincludeslocations

suchasUtrecht(thequintessentialAmsterdamalternative),Toulouse

(asunny,walkable,andmoreaffordablealternativetoParis),Patmos

andAntiparosasalternativestoMykonos,andOrvietoItaly(theperfecthilltownbetweenRomeandFlorence).Thisreframingdynamicof

“underrated”locations,commoninAI‑generatedrecommendations,isexpandingthemapofhigh‑demandtravel.

Therealsoseemstobeexcitementabout“luxuryarbitrage”amongst

AIusers.Thisincludesdestinationsmarketedas“theHamptonsofX”

or“theAspenofX,”andthoseadjacenttoglitzydestinationssuchas

St.Tropez,Cannes,orGstaad—locationsthatdeliveracomparably

premiumexperienceatarelativediscount.Whilestillfirmlyintheluxurytier,thesedestinationsofferamoreefficientvaluepropositionand,in

manycases,aperceptionofbeingmoredistinctiveorlesssaturatedthantheirU.S.counterparts.ThisincludesFortedeiMarmi,Antibes,Grimaud,MonteArgentario,Moltrasio,Cesme,andFormenteraforcoastal

retreats,andMountaindestinationssuchasSaanen,Verbier,Kitzbuel,

Morzine,Courchevel,andCransMontana.Takentogether,thesepatternssuggestthatAIisnotjustinfluencinghowmuchpeopletravel,butwhereandwhytheytravel.Itisenablingamoreintentional,discovery‑driven,

andvalue‑optimizedapproachtoglobaltravel.

WhereAIgoesonholiday

SOURCE:CHATGPT,MASTERCARDECONOMICSINSTITUTE

●THEME3

03

Personalmotivationsfortravel

Spendingpatternsattourismdestinationsrevealmorethanbudgets;

theyalsoreflecthowdifferentnationalitieschoosetoexperienceaplace.Whiledestinationsprovidethesetting,visitorsshapetheirownoutcomes,andthegapbetweenthesetwoapproachesisoftenvisibleinthedata.

Sometimesitconfirmsthecliché.Sometimesitrewritesit.

•Europehighlightsthisclearly.InFrance,Swissvisitorsconcentrate

spendingonretail,treatingParisshopsasareasontotravel,rather

thananafterthought.Britsprioritizerestaurantsandculinary

experiences,engagingdeeplywithFrenchfoodculture.Spaintellsa

differentstory,withnightlifeboomingacrosstheboard,ledbyBritishtourists,whosebarspendingshareis32%higherthantheaverage

visitor.

•InNorthAmerica,restaurantsandretaildefinetheexperiencefor

many.Onaverage,consumersspend29%oftheirholidaybudgeton

restaurants.That’smorethanisspentinestablishedfoodiefavorites

France(27%)andMexico(23%).Forinternationaltourists,Americancitiesareshoppingdestinationsasmuchasculturaloneswith28%ofspendingoccurringinretail,butMexicanvisitorstaketheretailcrowndevoting54%ofspendingtoretail.Canadian,British,andAustralian

travelers,bycontrast,spendmorethan5%oftotalspendingonlive

experiences,reflectingtheirpreferenceforexperienceswhentravelling.

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●THEME3

16

•LookingtowardsLatinAmerica,Mexicorewardsdeeperengagement,

withU.K.andCanadianvisitorsstandingoutforhighspendingontouroperators(6%and5%,respectively),apatternthatmayreflecta

preferenceforlocalexpertiseandlanguageskills.ComparedtoMexico,touriststoBraziltypicallyspendlessonlodging,leavingmorebudgetforrestaurantsandbars.4

•Asiapresentssomeofthemostvariedprofiles.Japandemonstrates

howasingledestinationcansupportentirelydifferenttravelstyles:Britsembracetherailnetworkandmovewidelyacrossthecountry,spendingmorethan10%ofthetotalwalletonlandtravel.Singaporeanvisitors

gravitatetowardshoppingdistricts,spending38%onretail.ButKoreantouristsleadnightlifespending,withabarspendingshare45%higher

thantheaveragetourist.

Acrossallthesemarkets,onetruthpersists:destinationsarenot

experiencedinasingularmanner.Thenationalityofthevisitor,combined

withtheinfrastructureandculturalofferingsoftheplace,produces

spendingpatternsthatareremarkablystableandreadableovertime.A

cityknownforfashionwilldrawshoppers;amarketwithstrongrailwillseethatreflectedintransportbudgets;andadestinationwithareputationfornightlifewillattractthoseseekingit.Whenthatwhichaplacegenuinely

offersalignswithwhatdifferentvisitorgroupsareactivelyseeking,theresultshowsclearlywherethemoneygoes.

Destination:Japan

%shareoftourismspendingbyorigincountry,card‑present,2025

Note:Dataisforfullyear2025andincludesin‑personspendingonly.Originmarketiswhereacardisissued.

SOURCE:MASTERCARDECONOMICSINSTITUTE

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●THEME3:SUBTHEME1

Thejourney,notthedestination

•AnalysisofaggregatedandanonymizedMastercarddatahighlightsoneformoftravelbuckingthetrend:traintravel.Theemerging

demandfortraintravelreflectsashiftingtravelethos—onethatcentersthejourneyratherthanthedestination.

•Touristsarelookingforwaystoimmersethemselvesindifferent

cultureswhilealsoreducingtheircarbonfootprint.Railisuniquely

placedtomeetbothdemands.Takingthetraininsteadofadomesticflightreducesone’scarbonfootprintbyaround86%.5

•Koreanconsumersareparticularlyfondoftravelbytrain,withashareof2.7%,alongwithSpanish,Dutch,andBritishconsumers.Europeis

theepicenteroftheflourishingtraintourismstory,thanksinpartto

theEU’sSustainableandSmartMobilityStrategy,withthestatedgoalofdoublinghigh‑speedrailtrafficby2030,makingrailanincreasinglyaccessiblelow‑carbonchoice.Butit’snotjustEuropeans.Consumers

fromHongKongSAR,Singapore,andAustraliasawtheirshareofspendjumpoverthepastthreeyears.

•MEIhasalsofoundthat,inadditiontostandardpublictrainspending,thenichesegmentofluxuryrailisexperiencingaboom.Scenicand

luxurytrainsthatofferopulentonboardexperienceshaveemergedasa34%shareoftraintravelaroundtheworld.Luxury‑raillovers

aremostlyfromItaly,theU.S.,Spain,theU.K.andAustralia.Italianssplurgethemost,withmorethan50%oftheirtotaltrainspendinggoingtoluxuryexperiences.

●THEME3:SUBTHEME1

18

Theshareoftravelspendingallocatedtotrainshasincreasedacrossmanycountries

%travelspendingontrains,2025vs.2022

Note:Trainspendingiscalculatedasthesumofcross‑borderspendingattrainmerchantsandspendingatinternationaltraintour

operators.Totaltouristtravelspendisthesumofallhotel,airlinesandtravelagencyspend,includingthetrainspendcategories.Onlycountrieswitha2025sharegreaterthan1%andatleast$13Mintrainindustryspendin2025areincluded.

SOURCE:MASTERCARDECONOMICSINSTITUTE

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●CONCLUSION

Conclusion

Travelin2026willbeshapedbygeopoliticsandits

economicconsequences,butotherfactorssuchas

affordabilitypressures,shiftingexchangerates,and

shiftingbusinessprioritieswillcontinuetoinfluence

wherepeopletravelandhowtheyallocatespending.

Personalpreferencesandprioritieswilldeterminewhichtrade‑offsaremade,andemergingAI‑driventoolswillhelptravelersfindbettervalue,giventheseconstraints.

Theseadaptationsareunfoldingagainstabackdropofheightenedgeopoliticalandmacr