Currency Exchangers – Want to Predict Travel? Count Suitcase Sales
Declan Morton
February 2, 2025
For currency exchangers, including independent bureaux de change, it has become much easier to stop referencing the Covid-19 pandemic. Travel is a case in point, but why? Well, according to the Office for National Statistics, international travel from the UK demonstrates a consistent post-pandemic recovery. Examining data since 2019 for the winter/spring and high summer periods, there is plenty to be encouraged by.
For those in the travel industry, the trend will already be understood by personal experience and anecdote – but it’s interesting to look at the numbers. The ones below compare for the first and third quarters of each of year from 2019 to 2023/24
| UK Outbound Passengers by Year and Season | |||
| Year | UK Outbound passengers Q1 (winter/spring) | UK outbound passengers Q3 (high summer) | Annual totals |
| 2019 | 18,159,000 | 30,000,000 | 93,086,000 |
| 2020 | 13,891,000 | 6,191,000 | 23,827,000 |
| 2021 | 918,000 | 8,108,000 | 19,142,000 |
| 2022 | 9,578,000 | 24,952,000 | 70,950,000 |
| 2023 | 15,281,000 | 28,320,000 | 86,205,000 |
| 2024 | 16,671,000 | Not available | Not available |
It looks as though we can expect continued organic growth instead of catch-up on its own. Finding the most useful metrics to confirm these predictions, however, can be tricky.
Rising Trends in Travel
Holiday booking numbers are encouraging. Worldwide, cruise numbers are set to increase by about 10% from 2024 to 2028, and the interest in niche and more eco-friendly holidays all look to grow steadily. However, finding a concrete and more down to earth measure of real intent can still be difficult – unless you look at something so simple as to be easily ignored.
The Luggage Factor
One clear indicator of travel’s continued resurgence is luggage sales. According to Statista, in 2024, in the UK, “…the revenue generated in the Suitcases & Briefcases market in 2024 is recorded at US$1.38bn [approx. £1.04bn] The market is projected to experience…” a compound annual growth rate (CAGR) of 0.72% from 2024 to 2028. Combined with the projected number of travellers, and even taking briefcases out of the equation, this looks encouraging.
How Currency Exchangers can Meet Continued Growth in Demand
The recovery is an important opportunity for travel retailers and associated services. They must be ready to meet this demand, and that includes providing reliable and well-priced travel money options.
Money4Travel connects travellers with local currency exchangers, online. The service guarantees the best exchange rates within a 10-minute drive from home or work. By supporting nearby currency exchangers, travellers get access to better rates and a convenient service, and exchangers benefit from increased visibility and a larger customer base.
This community-friendly marketplace is the ideal way for consumers to save money, and for local currency exchanger businesses to grow and support their local economy. With Money4Travel, everyone wins – travellers find great deals close to home, and exchangers boost loyalty and sales. Currency exchangers can join us today for a smarter, easier way to provide travel money.
Foreign Currency Exchangers have a Role in Travel Growth
All signs point to a busy and profitable year in travel in 2025, and beyond. For travel money retailers, this is a call to action. It’s an opportunity to partner with reliable providers and prepare to meet rising demand. Doing so is not just capitalizing on a thriving market. It also enhances the travel experience for countless consumers – many of whom seem to have a new suitcase!
By Declan Morton, writer and editor at Money4Travel – the online service for foreign currency sales in the UK. More about the author.
For reference: Dataset, Estimates of visits and spending abroad, Office for National Statistics, July 22nd 2024. State of the Cruise Industry Report, May 2024, Cruise Lines International Association. Market Insights, Luggage & Bags – United Kingdom, Statista, March 2024. Market Insights, Suitcases & Briefcases – United Kingdom, Statista, March 2024.
