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Consumers Would Spend 43 Percent of Cash Gift on TravelMay 31, 2011 By: George Dooley Travel Agent
A recent Travel Leaders survey of consumers reports that if consumers were given $5,000 to use in any way they pleased, they would on average spend $2,150 of that total on travel – more than paying bills, investing and shopping combined
Travel Leaders reports that survey participants were also asked whether they would choose a free trip to Hawaii, Las Vegas, Orlando or New York City – the most popular domestic destinations being booked by Travel Leaders in 2011 – the overwhelming majority (74.3 percent) favored Hawaii. Travel Leaders’ consumer survey was conducted March 10 – April 10, and includes responses from 953 consumers throughout the U.S.
“While these are hypothetic questions about spending $5,000 and winning a domestic trip, the results provide value insights into what the public really desires and values. There is real pent up demand to get away, relax and reenergize – which is completely understandable based on the enormous economic stress most Americans have felt for the past several years,” stated Roger E. Block, president of Travel Leaders Franchise Group.
“The monetary amount chosen for this survey was arbitrary. Our Travel Leaders agents have the expertise to tailor-make a vacation getaway to fit virtually anyone’s budget, and by working with Travel Leaders, many times we can offer our clients exclusive deals and amenities they wouldn’t otherwise have access to,” Block said.
Free $5,000: Consumers were asked, “If you won $5,000, how much would you use toward…”
Average Percent, Average Dollar Amount
Travel 43 percent, $2,150
Paying bills 23.6 percent, $1,180
Savings 16.2 percent, $810
Investments 8.7 percent, $435
Shopping 8.5 percent, $425
In addition, 13.9 percent of those polled would use the full $5,000 on travel. Nearly half of those polled (47.7 percent) indicated they would spend between $2,500-5,000 of the total on travel. Overall, 85.8 percent indicated they would spend some portion of the $5,000 on travel while only 14.2 percent indicated they would not spend any of the money on travel.
Free Trip in the U.S.: Consumers were asked, “If you won an all-expenses paid trip to one of the following U.S. destinations, which would you choose?”
Hawaii 74.3 percent
New York City 15.8 percent
Las Vegas 5.5 percent
Orlando 4.4 percent
Land or Cruise: A vast majority (89 percent) of consumers polled indicated that they have or will take at least one leisure trip in 2011. Those who will be traveling were asked “Are your 2011 leisure trips land-based, cruises or both?”
Land-based, only 77.3 percent
Both land-based and cruise vacations 21.2 percent
Cruise, only 1.5 percent
This is the third consecutive year in which Travel Leaders has conducted an online consumer survey.