Economic Confidence Increases Travel Plans Among U.S. Adults, Finds Survey
As passengers wait in a security line, left, a CLEAR passenger passes quickly through the CLEAR checkpoint, right, at San Francisco International Airport, May 31, 2012. John Green / Contra Costa Times
An improving U.S. economy is giving individual consumers the confidence to splurge on a vacation and businesses the ability to put their employees back on the road. The increase in travel intentions won’t match transactions, but it’s an optimistic sign for the coming year.
This is up from the same period in 2012 when only five in ten U.S. adults planned to take a trip in the last quarter.
The percentage of U.S. adults planning to take at least one trip in the last six months of the year (53 percent) is also the highest it’s been since 2009 (63 percent).
Financial concerns including fears of an economic meltdown, salary cuts, job losses, and tax increases all decreased over the past six months. This suggests a rising confidence in the U.S. economy and job stability means more Americans are willing to spend on travel.
Customer service satisfaction with airlines, lodging companies, rental car companies, and cruise lines also increased over the past six months. Traveler satisfaction increased the most for airlines and the least for hotel groups.
MMGY’s U.S. traveler intention survey travelhorizons is conducted every 90 days.