Travelers plan to spend more on leisure travel in 2003, but anxieties over a weak economy and the threat of terrorism still…
Travelers plan to spend more on leisure travel in 2003, but anxieties over a weak economy and the threat of terrorism still weigh heavily on travelers’ minds. A recent survey conducted by Tyzo.com, an online travel club found that 32% of travelers plan to increase spending on leisure travel in 2003, while 53% plan to spend the same amount, and only 15% plan to decrease
Spending.
By far the biggest drag on leisure travel spending is a weak economy. Nearly two-thirds of travelers singled out a weak economy over the threat of terrorism as having the greatest impact on their travel spending habits. If the economic picture improves in 2003 we should see a much stronger comeback in leisure travel, however, terrorism still remains a serious wildcard says Ray Hibbard, Editor of Tyzo.com.
A war with Iraq is also on travelers’ minds. While only 7% of travelers indicated a war with Iraq would keep them from taking a domestic leisure trip, nearly 38% said they would avoid traveling abroad during a conflict. As expected a war with Iraq would have its greatest impact on international travel. Many travelers choose to stay closer to home during times of conflict states Mr. Hibbard.
The survey points to 2003 as being a year of modest growth for the leisure travel industry. However, a war with Iraq may present a significant challenge to this recovery. The survey was based on over 2,000 responses from members of Tyzo.com
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
