Why and where Americans travel continue to evolve, shaped by changing global trends and conditions — from climate change and overtourism concerns to fluctuating prices and loyalty program devaluations.

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What continues to be true, however, is that travelers are just as enthusiastic as ever to discover new corners of the glThis report examines evolving American travel trends, emphasizing value, passion-driven exploration, and global discovery in 2025.obe — but with a renewed focus on getting value for their money (and miles) and the opportunity to explore their interests and passions.

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Here are the top trends TPG experts are seeing across the industry — and what they mean for travelers in 2025.

• Expect to spend more on travel in 2025
• Travelers are craving shared experiences
• Points and miles challenges
• 2025 travel plans and overtourism
• How climate change is affecting travel
• Government regulations on travel