06/16/2022
Updates 06/17/2022: Ohio's Travel Industry and Current Travel Research
TRAVELERS ARE PLANNING A TRIP WITHIN THE NEXT SIX MONTHS DESPITE INFLATION PRESSURES
Key findings from Longwoods International fielded June 8:
- 91% of travelers say they plan to travel in the next six months, up 2% from May 11.
- On their next leisure trip, travelers plan to:
- Visit friends and family (53%)
- Go to the beach or waterfront (48%)
- Take a road trip (45%)
- Go shopping (44%)
- Explore a city (37%)
- Visit National Park, State Park, or Monument (34%)
- As for factors impacting decisions to travel in the next six months, 16% say COVID-19, 25% say concerns of their final situation, and 33% say transportation costs will impact their decisions on travel.
- A survey record-high 41% of American travelers now say rising gas prices will greatly impact their decision to travel in the next six months. up from 32% on May 11.
- The impact of rising gas prices has impacted traveler plans:
- 39% say they are choosing destinations closer to home
- 39% say they are reducing the number of trips they take
- 34% are reducing the amount they spend on retail purchases
- 30% say they are reducing the amount they spend on entertainment and recreation
- 27% say they are reducing the amount they spend on food and beverage
- 15% say rising gas prices are not impacting their travel plans
- Despite all these inflationary pressures and concerns, demand for travel is still at record highs with 91% of American travelers still indicating plans to take a trip within the next six months.
AMERICANS STILL PRIORITIZE VACATIONS AMONG RISING ECONOMIC CONCERNS
Key findings from MMGY Travel Intelligence released this week:
- According to Portrait of American Travel research from MMGY Travel Intelligence, with data collected from more than 4,500 respondents, 65% of travelers still intend to take a leisure trip in the next six months even with obstacles in today’s travel environment.
- Nearly 8 in 10 leisure travels say the cost of travel is more significant than COVID-19 concerns for the first time.
- Though the travel costs rise, travels do not plan to cancel their trips”
- 48% say they are more likely to travel closer to home
- 35% say they will decrease spending money on entertainment or shopping
- 30% plan to make meals instead of eating out
- Perception of safety continues to improve for domestic travel (up 7 points from one year ago) and international travel (up 12 points from one year ago).
- With travelers feeling safer, the likelihood of travelers taking an international trip has increased to pre-pandemic levels.