Complete Story
09/13/2024
09/13/2024: Ohio's Travel Industry and Current Travel Research
SUMMER WAS BUSY FOR TRAVELERS WITH THE HIGHEST NUMBER OF LEISURE TRIPS TAKEN IN THE LAST TWO YEARS. AMERICANS ARE EXPECTED TO SPEND MORE ON TRAVEL.
Key findings from Future Partners, fielded Aug. 2024:
- The share of Americans reporting being better off financially than a year ago remains stable at 32% in August 2024.
- Younger travelers (Gen Z and Millennials) are more likely to report positive financial conditions than older travelers (Gen X and Baby Boomers). For example, 36% of Gen Z and 42% of Millennials report being better off financially now compared to a year ago, while 28% of Gen X and 26% of Baby Boomers report the same.
- Travelers' willingness to spend money on travel has remained steady. In August 2024, 35% of Americans agreed that now is a good or very good time to spend on travel.
- A significant portion of travelers view travel as a high budget priority. In August 2024, 59% of travelers said that travel will be a high budget priority in the next three months.
- Americans are expected to spend more on leisure travel than ever before, with the maximum expected leisure travel spending in the next 12 months reaching a record-breaking $5,413 in August 2024.
- Americans enjoyed a busy summer travel season, with the highest levels of leisure trips recorded in the last two years. In August 2024, 48% of Americans took at least one overnight leisure trip.
- Many travelers have trips planned for the fall and beyond. In August 2024, 30% of American travelers had trips planned for September, and 33% had trips planned for October.
