U.S. National Sample of 1,000 adults 18+
How Travel Will Be Impacted
Key Findings: Rising Gas Prices are replacing COVID-19 as a Travel Worry.
59% say that the current rise in gas prices will either impact (30%) or greatly impact (29%) their decision to travel in the next six months. This is obviously a red flag that could slow down travel if the fallout of the crisis in Ukraine on the oil markets is protracted. Historically, during past significant spikes in gas prices, we have seen travelers adjust to the extra cost by lowering their spend on accommodations, food, and other categories to make sure they are able to take the trips they desire. Regional drive markets have also traditionally fared better than longer-haul markets during such spikes.
Bottom Line: The industry will likely see a higher level of price sensitivity among both business and leisure travelers this year.
Despite this significant concern, 92% indicate plans to travel in the next six months.
In addition to the two leading activities: Visiting friends and relatives (47%) and road trips (42%), Americans planning to travel this spring continue to show increased interest in the great outdoors. There is also strong growth in intent to explore cities, visiting theme parks, and attending festivals & events.
Full report can be viewed here.