Around six in 10 American adults plan on taking a trip within the next six months, despite economic concerns, according to new research by MMGY Travel Intelligence as part of its 2022 Portrait of American Travelers’ “Winter Edition” survey, conducted with over 4,500 adults.
Among those who didn’t report active travel plans within the next six months, 45% mentioned the high cost of travel and 41% mentioned their financial situation as the main driver of why they’re not traveling. A smaller number, 25%, also mentioned they didn’t have enough time to travel — a 9% increase from the last survey, conducted in July.
A quarter of Americans with travel plans are expecting to travel internationally within the next six months, a great increase of 19% from the same time in 2021 and the highest in three years, proof that the demand for international travel is only rising, despite geopolitical conflicts and rising travel costs.
Over 55% of leisure travelers are interested in cruising within the next two years, with the highest demand seen from millennials, Americans with children and those who report higher household incomes.
Loyalty to specific brands seems to be waning, with four in 10 travelers reporting loyalty to a specific airline or hotel brand; this may stem from an increased desire to try new things and save money. Marriott and American Airlines reported the highest brand loyalty, earning the loyalty of 57% and 54% of those Americans still loyal to brands.
Online travel agencies are still popular, with 75% of leisure travelers using at least one, such as Expedia or Tripadvisor, to compare prices or availability. Yet seven in 10 travelers are concerned with using one, worried most about canceling or re-booking.
“The American international traveler is typically a more affluent traveler and is therefore proportionately less impacted by rising costs and inflationary pressures,” Chris Davidson, EVP of MMGY Travel Intelligence, said in a statement. “Furthermore, the relative strength of the U.S. dollar and the fact that foreign destinations are increasingly open and welcoming visitors support the notion that international travel will be an area of strength for the travel industry economy in 2023.”
While the mindset of the American traveler is changing, the desire for new travel experiences still remains top-of-mind, even above financial concerns.
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