Generative AI Revolutionizes Summer Travel Planning, New Oliver Wyman Report Says

Core Insights - Generative AI is transforming leisure travel planning, with a significant increase in usage among consumers just ahead of summer [1][2] Consumer Adoption - 41% of surveyed Americans and Canadians have utilized generative AI for trip inspiration or itinerary planning, up from 34% in August 2023 [2] - 82% of travelers who used generative AI tools are likely to use them again for future travel plans [6] - Younger travelers under 45 years old show a higher adoption rate at 59%, while 31% of travelers aged 45 and older also use these tools [6] Market Potential - Online travel agencies (OTAs) could increase their share of the US online travel market by up to 17 percentage points by 2029 if travel suppliers do not invest in generative AI capabilities, potentially generating over $2 billion in additional commissions for OTAs [2] Consumer Satisfaction - Over three-quarters of consumers are satisfied with the travel recommendations provided by generative AI tools, leading to high conversion rates for bookings based on AI suggestions [6] - 44% of users who booked generative AI-produced travel plans followed through with booking specific activities, and 43% booked dining suggestions recommended by the tool [6] Loyalty and Engagement - 45% of elite loyalty members of travel brands have recently used generative AI for trip planning, indicating a strong affinity for these tools among loyal customers [6] - Generative AI is particularly popular among cruise travelers, with 54% of respondents who have taken a cruise since 2022 using it for travel planning [6]