The results of the survey results that shows encouraging news for the bruised travel industry, and pent-up demand for hotels and resorts to open their doors in time for the summer vacation season, were released today.
The nationwide survey was conducted among 2,000 travel enthusiasts in the U.S. between April 20th and April 22nd, revealing a series of positive trends in tourism for the immediate future and remainder of the year.
Despite the current COVID-19 pandemic, the survey shows 72 percent of Americans are already making plans for their next vacation and 35 percent of travelers would consider a vacation as early as this summer.
Key findings from the survey indicate an optimism towards a resurgence within the travel and tourism industry, valued at $580 billion last year.
Other notable results from the nationwide study include:
- 82% of the country considers the travel market to be on pause rather than permanently transformed.
- 42% of people are ready to make a reservation now if it was risk free (no deposit / cancellation fee).
- 45% of those surveyed would plan to travel outside of the United States.
- 78% of travelers would journey by air for their next vacation.
- 26% of vacationers would opt for staying at a trendy beach resort as their next destination.
The nationwide survey offers some excellent insight in to which direction the travel market could be expected to head following the current wave of COVID-19. After more than six weeks of confinement, dreams of resuming our adventures are increasingly front-of-mind. Higher-than-usual interest is registered in more secluded staycations, away from the crowds, and domestic destinations where regulations are less likely to be an obstacle.
Domestic and international travelers spent nearly $1.1 trillion U.S. dollars ($1,127 billion) in 2019 alone. When this sum is split by type of traveler, domestic travelers spent $972 billion, while international travelers spent $155 billion. Total travel expenditure in the U.S. is forecasted to reach $1.26 trillion by 2022.