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Gas prices beginning to deter US travelers
Rising gas prices are starting to have an impact on American travel, says the Conference Board in a new survey.
Almost two thirds, or 64%, say they will be staying closer to home because of the higher gas costs.
Another 26% say they have postponed or shortened vacations this year; about the same number are canceling vacation plans due to higher prices.
“These survey results show that while most Americans haven’t changed their vacation plans because of rising gas prices, a substantial proportion – one in three – have been compelled to alter vacation activities,” said the Board, which added:
“Looking ahead, the combination of high gas prices and possible fallout from the recent terrorist threat could further change Americans’ travel plans.”
The non-profit Conference Board creates and disseminates knowledge about management and the marketplace to help businesses strengthen their performance.
Their recent survey covered 5,000 households.
Report by David Wilkening
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