A recent survey by Wakefield Research has unveiled the significant impact of loyalty programs on American travel trends in 2024. Over 70% of credit cardholders believe they benefit more from their rewards programs than the effort they put in. Rewards points are considered a crucial part of the budget for 37% of travelers in loyalty programs, particularly for Millennials (78%). Many travelers (76%) indicate that they would be unable to take the same quality trips without these benefits. Furthermore, 77% agree that their travel behavior would change significantly without rewards, potentially leading to different provider selections, cheaper accommodations, less convenient travel methods, or shorter trips. Despite having the lowest business travel rate (7%), Baby Boomers dominate leisure travel (93%). Millennials emerge as the most frequent business travelers (30%) and are also highly likely to be enrolled in a rewards program (83%), prioritizing airline miles (72%) and hotel points (67%). The survey’s findings highlight the essential role of rewards and loyalty programs in the resurgence of both personal and business travel, emphasizing their value in supporting the demand for domestic and international trips as well as upgrades.
