Further conveying the steadfastness of the American traveller, new industry research shares that today’s global economy continues to impact how and when most Americans will travel – but not if they’ll take a trip.
According to new data, 6 in 10 U.S. adults (58%) plan to take a vacation in the next six months despite inflation, the rising cost of travel and other economic factors.
Among those not planning to vacation in the next six months, more than 4 in 10 aren’t doing so because of concerns about the high cost of travel (45%) and their financial situation (41%).
In addition, 25% expressed having limited time available to travel in the immediate future (up significantly from 9% in July). However, the overall outlook for travel is generally quite optimistic, particularly in regard to international travel, which is expected to ramp up in 2023. In fact, 25% of US adults who expect to travel in the next six months shared that they’re likely to travel internationally – up from 19% this same time last year, and the highest percentage seen in the past three years.
The American international traveller is typically a more affluent traveller and is therefore proportionately less impacted by rising costs and inflationary pressures. Furthermore, the relative strength of the US dollar and the fact that foreign destinations are increasingly open and welcoming visitors support the notion that international travel will be an area of strength for the travel industry economy in 2023.
Other key observations from the survey include:
