From Page Four Media | Sourced The Washington Post
America Is on The Verge of a Travel Spending Boom
Americans have set aside $2.4 trillion in savings during the pandemic, and 80% have saved their biggest cash cushion in years.
With the pandemic stabilizing, Americans are rushing to book spring break and summer vacation trips during this time. They are looking for hassle free holidays and destinations that offer good weather.
Luxury Travelers are Ready to Spend More on Travel
Consumers – including luxury travelers – are ready to experience something new. Among those revisiting a destination, 43% will stay in a new/different accommodation.
Affluent couples who may have budgeted $25,000 on a luxury vacation before the pandemic are now willing to spend three or four times that amount.
America Wants to Travel to
Interest in vacations that include flights will grow, with 21% ready to fly internationally (+18% YoY growth).
Among those planning to travel outside of the US, the Caribbean is the top choice.
90% of all consumers planning to purchase a vacation in the next year are print magazine readers.
Print magazines reach 90% of affluent travelers, outperforming TV (82%), radio/audio (78%) and newspapers (36%).
Print magazines reach 90% of consumers planning to purchase a vacation to the Caribbean in the next year.
Source: The Washington Post, “The Return of Revenge Travel”, 2/17/22; Dotdash Meredith Predictive Travel Studies, 2022; MRI-Simmons Doublebase 2021 (Spring)