Certain destinations are favorites for a reason, no matter the year or the season. Travelers will always flock to Rome for its history, food, art, and hotels. Paris, Tokyo, and Copenhagen are up there — for shopping, cultural attractions, and Michelin-starred restaurants. But sometimes, you want to experience all this magic for a lot less money. And that's where "travel twins" come into play.

You've likely heard of "travel dupes," a.k.a. lesser-known destinations that mirror their more popular counterparts. But in the Mastercard Economics Institute annual outlook report that was released today, the finance company has coined the term "travel twins." The report said "travel twins" are "destinations that offer similar attractions and experiences at lower prices or with smaller crowds."

The rise in general pricing, the report explained, has shifted consumer purchasing behavior, including how we spend money on travel. 

You Can Escape the Crowds With These 13 'Destination Dupes' in 2024, Travel Experts Say

"For products and services with varied price and quality levels available, we may see a trend of 'trading down,' where consumers opt for more affordable versions," the report noted.

"Travel twin" destinations allow travelers to trade laterally instead of "trading down" — and many of us are already taking part in the trend. Mastercard's analysis showed that the average year-to-date growth in "hotel transactions across duplicate destinations [are] nine percentage points higher compared to their more well-known counterparts." 

So, in Europe, this means people are swapping stays in Copenhagen for Amsterdam, both of which offer "picturesque canals and bike-friendly atmosphere," per the Mastercard report. In Mexico, travelers are discovering that Bacalar's "crystal-clear waters and lush greenery rival the beauty of Tulum," and in Southeast Asia, "Lombok's stunning beaches and serene landscapes offer an alternative to the bustling crowds of Bali," according to the report.

For other travel twins, the report called out Fukuoka in southern Japan as an excellent alternative to Tokyo, Dublin in exchange for London, and Athens in lieu of a Roman holiday. So next time you want to get away for less, consider a travel twin, because trading down just isn't good enough for your vacation.