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Americans intend to travel in 2023 despite economic concerns

Nearly 6 in 10 American adults have an economic disability, according to a new survey conducted by MMGY Travel Intelligence as part of the 2022 Portrait of American Travelers “Winter Edition” survey of more than 4,500 adults. I am planning a trip in the next 6 months despite my concerns. .

Of those who did not report active travel plans in the next six months, 45% cited the high cost of travel, and 41% cited financial conditions as the main reason for not traveling. A small 25% say they don’t have enough time to travel. This is a 9% increase from the last survey conducted in July.

A quarter of Americans planning to travel expect to travel internationally within the next six months. This is a huge 19% increase for him from the same period in 2021, the highest figure in three years. Conflicts and rising travel costs.

More than 55% of leisure travelers are interested in cruising in the next two years, with the highest demand among millennials, Americans with children, and those reporting high household incomes.

Loyalty to specific brands appears to be declining, with 4 in 10 travelers reporting loyalty to a particular airline or hotel brand. This can stem from a growing desire to try new things and save money. Marriott and American Airlines have the highest brand loyalty, with 57% loyalty and his 54% loyalty among Americans who are still brand loyal.

Online travel agencies remain popular, with 75% of leisure travelers using at least one such as Expedia or Tripadvisor to compare prices and availability. However, 7 out of 10 travelers are concerned about using one service and are most worried about canceling or rebooking.

Chris Davidson, EVP of MMGY Travel Intelligence, said in a statement, “U.S. international travelers are typically wealthier travelers and are therefore proportionately affected by rising costs and inflationary pressures. difficult,” he said. “Additionally, the relative strength of the US dollar and the fact that foreign destinations are becoming more open and welcoming to visitors support the idea that international travel will be a strength for the travel industry economy in 2023. I have.”

Though the American traveler’s mindset is changing, the desire for new travel experiences still trumps economic concerns.