NEW YORK, 10 November 2022 — With the winter holiday season about to kick off, over 70% of Americans have already taken a vacation during the summer of 2022, according to research conducted by Getwizer, the hybrid consumer insights platform. However, while Covid concerns dominated people’s fears when traveling over the past few years, travelers looking to take a winter break are now far more worried about gas prices and extra expenses, as a result of skyrocketing inflation and economic uncertainty.
A total of 75.3% of respondents said they were “extremely concerned/concerned” about gas prices, with a further 66.1% feeling likewise about extra expenses, such as food, transportation, souvenirs, and so on. This compared to just 55% being “extremely concerned/concerned” about exposure to Covid.
Getwizer’s study also found that domestic tourism accounted for almost 80% of vacations, with international trips making up just slightly over 20%. Although close to pre-pandemic levels, the popularity of international travel is most likely being dampened due to fears of a recession and the higher cost of foreign vacations.
Given the uncertainty regarding the economy, staycations form a significant proportion of ‘domestic’ holiday plans among American consumers, with over a quarter of respondents (26.2%) having taken vacation time off work to spend time alone at home or with friends.
“Our research found that 79.3% of respondents classified time off for vacations or staycations as extremely important or important,” says Jennifer Allison, Chief Commercial Officer at Getwizer. “So, despite the concerns over the economy, our research shows that people are still eager to take vacations but are keeping an eye on costs.”
With the pandemic nearing an end, it was expected that consumers would spend big in their vacations after suffering through multiple lockdowns for the last few years. This has been labeled ‘revenge travel’, referring to people wanting to make up for time and experiences lost to the pandemic. But the thoughts of people spending big on once-in-a-lifetime vacations does not correlate with the findings of Getwizer’s research. Only just under 13% of respondents said they planned to spend more on their vacation this year compared to previous years. While just over half said they would spend the same, almost 37% said they would be budgeting less.
“The travel and tourism sector is rebounding strongly but still has problems to navigate,” says Gilad Gans, CEO at Getwizer. “Market research will play a key role in monitoring and reacting to changing consumer preferences ensuring optimum pricing and packages can be maintained as the sector evolves, economic strength eventually returns and the impact of inflation reduces.”
The survey was conducted by Getwizer during the summer of 2022 using a sample of adults (18+) that was representative of US Census data in terms of age, gender, ethnicity, region. One-third of the respondents cited earning under $25,000 a year, with 34% reporting being employed full time and another 20% classifying themselves as retired.
Getwizer is a hybrid consumer insights platform integrating the very best of tech and human expertise to deliver a custom, quick and efficient research experience. We enable insights, product and marketing teams to study whatever they need, whenever they need it, freeing them up to focus on decision-making that drives growth. Getwizer counts among its clients brands such as Reebok, Wilson Sporting Goods, Playtika and Next Insurance. For more information visit www.getwizer.com.
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