Consumers to Resume Spending on Travel

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Unem­ploy­ment may still be high but con­sumers are grow­ing rest­less. Whether it’s a tra­di­tion­al sum­mer vaca­tion or a fall get­away, more con­sumers might be inclined to trav­el this year. The chief rea­son behind this inter­est is the gen­er­al con­fi­dence many con­sumers have about their per­son­al finan­cial sit­u­a­tions.  Few­er con­sumers cite per­son­al cred­it card debt and the plung­ing val­ue of invest­ment port­fo­lios as rea­sons to avoid trav­el­ing. Over­all, the Trav­el­er Sen­ti­ment Index, mea­sured by YPart­ner­ship, came in at 90.4 in April 2010 which is an improve­ment from the 89.1  lev­el a year ago.

Three vari­ables have improved with respect to trav­el atti­tudes in the past year. They are:

  • Inter­est in trav­el
  • Time avail­able to trav­el
  • Mon­ey avail­able to trav­el

How­ev­er, it’s not all good news for trav­el oper­a­tors. The sur­vey found con­sumers are con­cerned about:

  • Afford­abil­i­ty of trav­el
  • Per­ceived safe­ty of trav­el
  • Qual­i­ty of trav­el ser­vices

Trav­el mar­keters should posi­tion their mes­sages to address con­sumer con­cerns in order to increase rev­enue as the econ­o­my begin to expand again.

[Source:  Yesawich, Peter. Insights May 2010. YPart​ner​ship​.com. 27 May 2010. Web. 15 Jun. 2010]
Kathy Crosett
Kathy is the Vice Pres­i­dent of Research for Sales­Fu­el. She holds a Mas­ters in Busi­ness Admin­is­tra­tion from the Uni­ver­si­ty of Ver­mont and over­sees a staff of researchers, writ­ers and con­tent providers for Sales­Fu­el. Pre­vi­ous­ly, she was co-own­er of sev­er­al small busi­ness­es in the health care ser­vices sec­tor.