Good news! A dramatic increase in consumer travel intentions, indicating a rise in traveler confidence, is reported in Travelocity's second Traveler Confidence Report.
Travelocity’s report finds that nearly half of respondents plan to increase their travel in 2010 as compared to 2009. Lower hotel prices have helped stimulate demand and vacation packages are seen as a way to save money.
The Traveler Confidence Report gauges travelers' plans and attitudes now as compared to six months prior and one year prior. The following findings are based on the intentions of more than 2,000 North Americans surveyed by Travelocity.
“Great deals, especially on hotels, have given travelers confidence to hit the road and take to the skies in 2010,” said Genevieve Shaw Brown, Travelocity’s senior editor. “It’s particularly encouraging to see that travelers are finally recognizing packages are the easiest way to save big bucks.”
Traveler Confidence Report Highlights
* Travel Intentions Up: Significantly more respondents (49 percent) plan to increase their travel in the year ahead, compared to 21 percent six months ago and just 10 percent in 2009. Another 44 percent plan to travel “about the same” as compared to last year. The number of travelers planning to decrease travel is down significantly to 7 percent, from 34 percent one year ago and 24 percent six months ago.
* Decreased Hotel Rates Have Positive Impact: When asked how lower prices would impact travel plans, 33 percent said they would stay in a higher star-rated hotel; 30 percent said they would take a trip they had not expected to take; and 18 percent said they would extend their stay.
* Travel Budgets on the Rise: The majority of respondents (56 percent) did not have a predetermined travel budget for 2010. Of those with a predetermined travel budget, 34 percent plan to increase that budget.
* Travelers Committed to Saving Money: An overwhelming 76 percent of respondents are at least somewhat likely to book a vacation package as a way to save money.