Travel is a top priority when it comes to consumers’ discretionary spending, according to the Fall 2022 Consumer Travel Sentiments study from the American Society of Travel Advisors (ASTA). The survey reveals that 77% of Americans would rather take a vacation than buy a computer, a television, a car, a gaming console, show tickets or other goods.
In fact, travel is seen as a worthwhile investment even in the face of concerns about inflation, which nearly nine in 10 travelers say they are feeling. And despite 47% of Americans indicating that the cost of travel has gotten very expensive, people aren’t holding back on booking.
Travel Spending on the Rise
ASTA’s research indicates that 40% of travelers are spending more on travel this year than they did before the pandemic, outranking increased spending for cars (36%), home improvement (32%), entertainment (31%) or electronics and technology (28%). That number is even higher for 2023, when 75% of respondents plan to spend the same or more on trips.
Traveler Concerns and Intent
Aside from the rising cost of travel, other consumer concerns revealed in the study that could be an impediment to trip planning include:
- A weak economy (18%)
- Believing that airports and airlines are understaffed (57%)
- The hassle of getting to international destinations right now (38%)
- Uncertainty about the level of service travelers will experience abroad right now (22%)
With that said, 40% of respondents say that nothing is going to stop them from taking a vacation. Travelers are also eager to check things off their bucket lists in the very near future, with 25% planning to take a dream vacation by March 2023.
The pandemic remains a big driver for travel intent, as well, with 70% of Americans looking at travel as a reward for what they have gone through over the past two years. Many Americans also feel that they “need” a vacation, indicating that it would be beneficial to their mental health (80%) and feeling that the ability to travel is important for their overall well-being (76%).
When it comes to popular destinations, the beach is the most desired option, with 25% of consumers seeking sun and sand on their next vacation.
Within the next few months, travelers are also planning trips around the holiday season. Sixty-four percent will travel for Thanksgiving, 66% will travel in December and 38% will travel for New Year’s Eve.
Travel Planning
Other findings from the survey reveal that consumers have increased concerns about travel planning in the pandemic-era — and could benefit from using a travel advisor.
According to ASTA, 64% of Americans think it’s more important to book a vacation further ahead of the travel date than they did before the pandemic, and 67% feel that trip planning is just more complicated overall than it was before COVID-19.
A simple solution to these planning woes? Booking through a travel advisor, whose expertise most travelers (48%) say would put them more at ease.
