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The recent fluctuations of the U.S. stock market are beginning to affect the leisure travel plans and habits of Americans, according to the most recent travelhorizons survey, co-authored by Ypartnership, a worldwide marketing services firm that specializes in the travel industry, and the Travel Industry Association (TIA) in Washington, D.C. The nationally-projectable survey of approximately 2,300 U.S. adults was conducted during the week of October 13, 2008.
The survey revealed that fully seven out of 10 (71 percent) active leisure travelers intend to take an overnight trip of 50 miles or more from home during the next six months. This percentage is identical to that recorded in travelhorizons(TM) one year ago (October, 2007), thereby revealing no degradation in the overall incidence of the intention to travel among Americans despite the turbulent developments in the financial markets.
Almost half (48 percent) of all respondents stated they were not planning to make any changes to their future travel plans as a result of the financial crisis. Those same travelers are likely to travel differently, however: more than 76 percent expect to book a packaged vacation to save money, while 75 percent expect to spend less overall. Nearly 73 percent intend to spend less on food, beverages and entertainment, and 67 percent plan to stay fewer nights. And almost six out of ten (58%) expect to utilize the Internet to comparison shop for better fares and rates.
Interestingly, not all respondents expect to travel differently. A full one out of five (22%) expects to stay more nights, and nearly one out of six (16%) expects to spend more money overall.
"These results corroborate what we have been predicting for several months now: American travelers will be trading down, but not out," said Peter C. Yesawich, chairman and CEO of Ypartnership
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
