Travel Industry

Travel industry gathers in Washington D.C. for ASTA Legislative Day. Credit: Travel Pulse

One thing is clear from the latest travel industry research — people are ready to travel and not even high prices and inflation will keep them home, according to Travel Pulse.

Travelers’ concerns about inflation doubled in 2022, according to the latest research from the American Society of Travel Advisors (ASTA) presented at the National Press Club ahead of ASTA Legislative Day in Washington D.C., on June 21.

Despite economic pressures, however, people are spending more on travel than anything else. In fact, research showed that the average American family is willing to spend $200 more per day.

Lifting the inbound COVID-19 testing increased travel demand for international destinations even more.

A June 14 ASTA survey found that 82% of travel advisors agree that their clients are more likely to travel abroad now that the requirement has been lifted, and Caribbean and Western Europe travel is up 25% with strong demand for Hawaii, French Polynesia and South America.

Looking at what U.S. travelers want, Jon Last, president of Sports & Leisure Research Group, presented research from a recent survey of American travelers from May.

The research confirmed that travelers are traveling despite economic pressures. Travel was the number-one thing Americans are spending on (45%) followed by home improvement (40%) and home entertainment (36%).

In 2023, 41% of Americans said that they plan to spend a lot more on leisure travel and two-thirds plan to travel before the end of the year. Half will travel for the holidays and 23% will travel for business.

The top domestic destinations for Americans include Las Vegas, Orlando, New York, Nashville, Los Angeles, San Diego, Seattle, San Francisco, Chicago and Denver.

Three in 10 travelers are planning a dream vacation in the next six months. It is the top discretionary purchase over vehicles, home remodeling, consumer items and second homes.

Eighty percent said that a vacation would do wonders for their mental health.

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