UK Weekly/YTD Market Report - Week 5 - 31 January settlement
For Week 5 of 2024 versus the same period in 2023, and in the year-to-date analysis (Weeks 1 to 5), Travel Ledger's data shows the UK travel industry experiencing slower transaction growth yet still notable increases in transaction values.
- Transactions surged by only 1% this week, continuing to slower rate of growth compared to last week.
- Total amounts processed increased by 19%, 15% lower than last week.
- Average transaction value increased again 18% compared to the same period in 2024
The current figures align with our projections, reflecting a trend where a portion of the market postpones their summer holiday bookings until receiving their end-of-month paycheques. We anticipate a significant uptick in next week's numbers, surpassing both the figures from the corresponding week last year and the current week's performance.
It's important to note that Travel Ledger's UK data primarily pertains to bookings or balances collected in the preceding week. This is due to the predominant practice in the UK holiday market where settlements are scheduled on a weekly basis. Consequently, bookings made by agents in any given week are processed and paid out to suppliers in the subsequent week's cycle.
Year to date update (Weeks 1 to 5)
Approximately once a month we will provide "year to date" number comparison. This is how 2024 is comparing to 2023 at the end of week 5:
- Transactions +15%
- Total amount +33%
- Average transaction value +16%
Average transaction value continues to show a healthy trend for the UK market.
Stay tuned for more updates from Travel Ledger, as we continue to provide valuable insights into the travel market's evolving landscape.