Consumers to Resume Spending on Travel

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. YPartnership​.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.