Economic uncertainty could still impact future travel plans of many Americans during the fall season and beyond.
The latest Longwoods International American Traveler Sentiment finds four in ten travelers (39%) report that there are factors limiting or discouraging them from leisure travel within the next 12 months.
Among those, 75% report financial constraints and economic uncertainty as a top factor.
Others being personal/family health limitations (16%), work and family commitments (14%), and safety concerns stemming from either health or politics (9%).
Additionally, 64% of travelers either strongly agree or agree that ‘travel is becoming too expensive’.
However, 54% either strongly agree or agree that they are ‘willing to reduce spending in other areas prioritize travel’, which indicates that despite financial concerns, travel is still top-of-mind.
The majority of travelers surveyed (58%) plan to travel about the same amount this fall compared to last year.
A quarter (23%), however, plan to travel less this fall compared to last year.
Despite this, overall demand remains just below record survey highs with 91% of American travelers indicating plans to go somewhere in the next six months.
Still, American travelers overwhelmingly place high value and importance on travel.
Three-quarter of travelers either strongly agree or agree that ‘vacations are one of the things I most look forward to each year’ (75%) and ‘I value making experiences over acquiring more material belongings’ (72%).
This further reinforces the thought that travel has shifted from a “want” to a “need” among American travelers.
One-third (32%) of American travelers report that that the Covid-19 pandemic changed how they travel now.
Among those, two-thirds (62%) now practice increased caution and hygiene practices when traveling.
The COVID-19 pandemic, however, also resulted in increased importance and appreciation for travel.
