Travel spending will go up as more Americans plan trips this holiday season, according to the third annual Access America Vacation Confidence Index released by Mondial Assistance USA.
Nearly six in ten Americans (57 percent) are confident they will take a holiday trip this year, up from 50 percent in 2010.
“The increase in spending spurred by more travelers will translate to a nearly $6 billion bump for the travel industry as holiday travel spending is expected to reach $65.2 billion, a 10 percent increase from last year,” according to the report.
“This year’s survey illustrates some good news for the travel industry,” said Daniel Durazo, director of communications for Mondial Assistance.
“More Americans are traveling this year compared to 2010, and that translates into billions of dollars in extra revenue for travel suppliers,” he added.
Travelers intend to spend $980 on average, down slightly from $1,040 budgeted on average last year. But with significantly more adults expecting to take a trip, overall spend will increase to $65.2 billion, the survey found.
Other highlights:
- While car travel is still the top mode of transportation (56 percent), more travelers intend to fly to their destinations this year than they have in the past. A third of travelers (34 percent) plan to fly this year, up from 26 percent last year, and 27 percent in 2009.
- Holiday and family go hand-in hand, so it is not surprising that two thirds of parents with children under 18 reported that a holiday vacation is important.
- Travelers are booking sooner. Nearly half (49 percent) of Americans plan on booking their travel at least two months in advance (compared to 42 percent in 2010) and nearly a quarter intend to book their trip between one and two months out.
- Women may not find this surprising, but men are more likely to wait until the last minute to book holiday travel, with a third (32 percent) saying that they plan to book within a month of their departure (compared to 21 percent of women).
By David Wilkening
