A Third of Americans Plans to Cut Back on Travel Spending This Year: New Skift Research U.S. Travel Tracker
Skift Take
Key Points
- 55% of Americans traveled in December, up 10 percentage points from last year.
- 34% of Americans plan to cut back on travel spending due to economic concerns and high costs.
- The report covers travel demand, consumer sentiment, booking trends, and the impact of remote work from January 2020 to December 2022.
Summary
According to the latest Skift Research U.S. Travel Tracker, 55 percent of Americans traveled in December, marking a 10-percentage point increase from the previous year. However, 34 percent of Americans plan to reduce travel spending in the upcoming year due to economic concerns and high travel costs. The report offers comprehensive insights into travel demand, consumer sentiment, booking trends, and the impact of remote work on travel from January 2020 to December 2022.
Travel is picking up in the U.S. In December, 55 percent of Americans traveled, 10 percentage points higher than the same time last year. However, the number of respondents who travelled decreased by 2 percentage points in December compared to September indicative of typical seasonality in travel with the winter season commencing.
Nevertheless, the future of travel industry’s recovery remains precarious as a majority of Americans believe that the economic situation of the country and their personal financial situation will worsen in the next 12 months and that 34 percent of Americans plan to cut down on their travel spending because of high prices of travel products.
In our newly released U.S. Travel Tracker: December 2022 Highlights report, we highlight the current state of the U.S. travel demand with data and insights on trip details, consumer sentiment, travel spending changes, the impact of the pandemic, booking trends, and how the “work from anywhere” trend impacts travel.
Skift Research introduced the monthly U.S. Travel Tracker survey in January 2020 and switched to a bi-monthly survey starting 2021.
What You’ll Learn From This Report
- Travel incidences, January 2020 – December 2022
- December 2022 travel highlights
- Booking trends
- Consumer sentiment and economic outlook
- Consumer attitudes to prices, and the impact on travel plans
- Remote work trend and its impact on travel and mobility
- Use of sustainable options provided by travel suppliers
Skift’s in-depth reporting on climate issues is made possible through the financial support of Intrepid Travel. This backing allows Skift to bring you high-quality journalism on one of the most important topics facing our planet today. Intrepid is not involved in any decisions made by Skift’s editorial team.
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