The meaning conveyed is the same do I think it is a personal choice. I think most people would use the shorter phrase as there is not need to use a verb. Still you could use either word choice, just as you would in English. Of course, word choice also varies between social groups and formality of the situation. You will still be understood using any of these in a conversation. For a literal translation:
I like to travel
I like travel
There also more ways to handle verbs as nouns. These are rarely used when there’s a simpler option (as shown above) but it might help to understand by Japanese grammar handles nouns and verbs.
I like travelling
I like having the experience of travelling