Among the countless travel perks that may prevent money or earn you free upgrades, being a part of a loyalty program stands out as especially essential. Barclays US Consumer Bank’s second annual Travel Rewards and Loyalty Report takes a deep dive into the loyalty programs and perks travelers use most frequently and sheds light on their importance within the travel landscape.
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Membership within the loyalty program is significant
Of the 1,000 U.S. travelers surveyed by Wakefield Research, 77% said they currently take part in a travel loyalty program of some kind. These respondents reported having flown no less than once previously 12 months and intend to travel again in the subsequent 12 months. In addition, 89% of respondents reported having been a member of a loyalty program sooner or later.
Program types include:
- Airlines
- Car rentals
- Cruise ships
- Hotels
- Online booking sites
About 51% join to earn airline rewards, 43% for hotel rewards and 30% for booking sites. Cruises and automotive rentals are the smallest programs because they have a tendency to supply fewer travel options.
76% of travelers currently participating in loyalty programs cannot imagine the identical quality of travel as before without the advantages. Without the rewards, they could have to modify travel providers, select cheaper accommodation, shorten the length of their trip or use a less convenient travel method.
Millennials are the probably to take part in loyalty programs, with 83% participation. Among Gen X, Gen Z and Baby Boomers, the common participation rate is 75%. Millennials are also more prone to travel this yr.
The most dear loyalty rewards for travel
Because there are such a lot of traveler loyalty programs available they usually offer a lot value to most members, 77% of respondents expect to travel more in 2024 than in 2023. Of these, 79% will probably be for leisure travel and 21% for business travel.
With this in mind, below are probably the most desired advantages (sorted by highest demand):
- Opportunity to earn and redeem rewards (70%)
- Lower costs, reduced fees and low rate of interest guarantees (58%)
- Elite status or perks, free checked baggage, priority boarding, etc. (55%)
- Improved travel experience through upgrades, lounge access (51%)
- Access to experiences reminiscent of live shows and events (29%)
Travel points are the most dear advantage of being a member of a loyalty program or using a particular bank card rewards program. Although there are several ways to redeem points, 65% of respondents plan to make use of them for flights and 54% for hotels.
Most worthwhile travel points
Not surprisingly, airline miles are considered the most dear kind of travel points, with 89 percent of travelers saying that points are essential to their preferred travel style.
Below you may see the extent to which travel rewards support reward travel:
- Air miles (69%)
- Hotel points (60%)
- Car rentals (37%)
- Cruise ships (26%)
Airline and hotel miles typically offer probably the most value. They are also the best to earn or redeem, as there are many travel options for each domestic and international travel.
The majority of respondents (72%) will use their travel rewards for travel inside the United States this yr, although international travel is increasing. Europe (29%), the Caribbean (23%) and Canada or Mexico (22%) are the most well-liked foreign destinations.
The most dear travel offers
The most dear profit is the travel points, but some travel rewards without points are also price membership.
Here are the three hottest discounts and upgrades available to elite members and travel bank card customers:
- Hotel offers (71%)
- Flight upgrades (70%)
- Priority boarding (60%)
In addition, frequent travelers who take no less than five or more flights per yr are prone to profit probably the most from travel rewards.
Business trips are probably the most rewarding
These various perks allow most survey respondents to get more out of their rewards programs than they spend. Success rates vary by travel type and generation:
- 84% of business travelers (in comparison with 67% of vacationers)
- 79% of Millennials
- 72% of travel bank card holders
While business travel is way less common than leisure travel, loyalty program memberships and travel points are more rewarding for many who can book business travel.
Final thoughts
Each travel loyalty program offers different perks, ways to redeem points and destinations. Finding the best program makes it much easier to travel more often and with higher experiences. For more information, see Full survey results.
