Online travel platform Fliggy has released its 2024 Buy-Now, Plan-Later (BNPL) Travel Insights, revealing a significant 20% year-on-year increase in booking volumes for its BNPL travel products. The growth is primarily driven by Generation Z, who represent nearly a quarter of users embracing this flexible travel planning model.
BNPL allows consumers to purchase travel products in advance, providing cost savings, flexibility, and the option for full refunds before finalizing reservations. This innovative model has gained traction as a mainstream travel consumption method, enabling travelers to secure their plans while benefiting from adaptable pricing and usage options.
Acton Chou, Fliggy’s Head of BNPL Product Operations, highlighted the model’s role in expanding customer bases and addressing growing consumer demands. He projected steady growth in the recreational tourism market for 2025, emphasizing BNPL’s advantages in boosting customer spending willingness.
Key trends for 2024 include a 10-percentage-point rise in the share of outbound tourism within the BNPL segment, with hotel booking fulfillment rates for outbound trips surging by 70% year-on-year. Travel destinations have also expanded, with popular choices now spanning a 12-hour flight radius from China. Top destinations include Malaysia, Thailand, Japan, South Korea, and the Maldives, alongside emerging hotspots such as Iceland, Norway, Kenya, and the United Kingdom.
Fliggy also noted increasing demand for unique travel experiences, such as self-driving tours in New Zealand, polar cruises to view albatross and penguins, and breathtaking destinations like Tibet’s Bomi. International cruise bookings tripled, while overseas car rentals and amusement park ticket sales also saw rapid growth, underscoring the diversification of travel preferences.
Fliggy’s insights reflect evolving consumer habits and the growing popularity of flexible travel solutions, positioning BNPL as a strategic tool for the future of global tourism.
