Travelocity Issues First-Ever ‘Traveler Confidence’ Report
Data Shows Travel Intentions Up as Prices Fall
Traveler Confidence Report Highlights:
- Travel Intentions Up: Travelers planning to increase travel in 2009 is up significantly, with 21% planning to increase travel when asked in April 2009 compared to only 10% planning to increase travel when asked in November 2008.
- Vacation Postponement Down: Travelers planning to decrease travel in 2009 is down significantly, from 34 percent in November 2008 to 24 percent in April 2009. Travelers are also more likely to decrease budgets as opposed to cancelling vacations completely.
- Decreased Airfare and Hotel Rates Have Positive Impact: When asked how lower prices would impact travel plans, 25 percent said lower airfares would allow them to take a trip they had not expected, while 18% said lower hotel rates would allow them to stay at a hotel with higher star rating.
- Travel Budgets Strong: Two-thirds of respondents report their summer travel budgets will remain the same or increase as compared to summer 2008. Of the one-third planning to reduce budgets, the vast majority will do so by 50 percent or less.
“Travelocity predicted 2009 would be the ‘year of the travel deal,’ and so far, that prediction has been correct,” said Genevieve Shaw Brown, Travelocity’s senior editor. “Until now, whether or not travelers would take advantage of these deals has been the subject of much speculation. The Traveler Confidence Report indicates travelers do intend to jump on these deals.”
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