Overseas Leisure Group, a luxury travel operator in 34 countries across the globe, has released the result of a survey that shows encouraging news for the bruised travel industry and pent-up demand for hotels and resorts to open their doors in time for the summer vacation season.
Despite the current coronavirus (COVID-19) pandemic, the survey shows 72 percent of Americans are already making plans for their next vacation and 35 percent of travelers would consider a vacation as early as this summer. In fact, 42 percent of people are ready to make a reservation now if it was risk-free (as in no deposit or cancellation fee). However, the next largest group (29 percent) said they were not sure of when they would travel next.
Other good news includes the fact that 82 percent of the country considers the travel market to be on pause rather than permanently transformed. Just over 71 percent said they were “dreaming of the time when you will travel again;” the remaining respondents said they were taking a “wait-and-see” approach. None were planning to stay home forever.
Just under half (45 percent) of those surveyed would plan to travel outside of the United States and more than three-quarters (78 percent) of travelers would journey by air for their next vacation.
“We are seeing a higher-than-usual interest in more secluded staycations, away from the crowds, and domestic destinations where regulations are less likely to be an obstacle,” Felix Brambilla, CEO of Overseas Leisure Group, said in a statement. He adds that the travel agency will be announcing “an attractive proposition for those who require a risk-free option for their summer and fall bookings.”
According to Statista, domestic and international travelers spent nearly $1.1 trillion in 2019. Total travel expenditure in the U.S. is forecasted to reach $1.26 trillion by 2022.
The nationwide survey was conducted among 2,000 “travel enthusiasts” in the U.S. between April 20 and 22.