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Travelocity Says Travel Intentions Up as Prices FallJune 3, 2009 By: George Dooley
Traveler confidence is on the rise, a recent poll by Travelocity reports, showing a dramatic increase in travel intentions. The good news comes from Travelocity's first-ever Traveler Confidence Report that shows that decreasing airfares and lower hotel rates have positively influenced 96 percent of overall respondents' summer travel plans and inspired stronger travel intentions for the season ahead. The Traveler Confidence Report gauges travelers' plans and attitudes now as compared to six months prior.
Highlights of the Traveler Confidence Report include:
• Travel Intentions Up: Travelers planning to increase travel in 2009 is up significantly, with 21 percent planning to increase travel when asked in April 2009 compared to only 10 percent 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 canceling 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 percent said lower hotel rates would allow them to stay at a hotel with a 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.”