New data from Morning Consult suggests that U.S. travel demand may be losing some steam in the face of high prices and other economic worries. A pulse survey by the New York-based intelligence company that routinely asks a panel of travelers about their trip plans for the coming year saw a sudden weakening in July.
“Check out that drop in early July 👀- our weekly return to normal data shows that intent to travel in the coming year has significantly cooled, suggesting people have taken their “revenge trips” and are now pulling back.”— Lindsey Roeschke, travel and hospitality analyst, Morning Consult, via Twitter.
Interestingly, Morning Consult’s data suggests that U.S. travelers are cooling to the idea of travel more than travelers in many other countries.
Adding to the pain is that about four out of ten business travelers don’t forsee a return to pre-pandemic business travel.