Travel Spending Declines But Americans Keep Traveling | Tech US News

[ad_1]

Most American travelers are being careful with their money and have cut back on travel expenses because they are worried about the possibility of an upcoming recession, a new survey shows. Concerns, however, haven’t stopped them from traveling: 8 out of 10 American adults have travel plans.

Those are the findings of an online survey of 4,035 US travelers from Oct. 14-22 by Destination Analysts, a travel and tourism market research firm. The survey results reflect the views of all adult US travelers, according to Destination Analysts.

Nearly 80% of U.S. travelers who say recession worries have caused them to be careful with their money have cut back on their travel spending, the survey found. It also reveals that the percentage of Americans who say travel is a budget priority – 54% – hit a 10-month low, and the percentage who say now is a good time to spend money on travel (25%) is the lowest since Destino. Analysts started asking the question in July 2021.

The main deterrents to travel are financial and cost issues, including high gas prices, expensive airfares and other travel costs, the survey found.

Despite those concerns, more than 82% of U.S. travelers say they have existing travel plans, according to the survey. This month through January 2023, 58% have a leisure trip planned, 51% plan a trip to visit friends or family, 15% have business trips and 9% will travel to a convention or conference.

Apparently, monetary concerns have not deflated Americans’ desires to travel to foreign countries.

Interest in international travel “grew to year’s high,” says Destination Analysts. The survey shows that 31% of Americans are more interested in traveling outside the US. USA than domestically, a 6-point increase compared to February 2022. Nearly 35% say they are likely to travel outside the United States in the next 12 months, a 7-point increase from April 2022.

According to the survey, the top international regions Americans are most likely to visit in the near future are Europe, Canada, Mexico and the Caribbean Islands.

[ad_2]

Source link

Please disable your adblocker or whitelist this site!