Travel Intentions Rise to Highest Level Since 2007
March 14, 2014 9:20am
ORLANDO, Fla. - (March 14, 2014) - The travel intentions of U.S. adults are the highest since 2007 according to the latest travelhorizons™ survey of 1,900 active travelers conducted by marketing services firm MMGY Global. More than six in ten U.S. adults (64 percent) expect to take at least one leisure trip between now and August 2014 - surpassing the highest percentage previously recorded in the travelhorizons™ survey from February 2009. This increase suggests the U.S. travel industry can expect an increase in demand during the forthcoming spring/summer travel season.
The percentage of U.S. adults planning to take at least one leisure trip during the next six months was seven points higher than recorded in February 2013 (57 percent).
In other positive news for the travel industry, the overall Traveler Sentiment IndexTM (TSI) has risen to its highest level since the index was first published in March of 2007, just prior to the onset of the Great Recession. The TSI now stands at 106 - six points higher than March 2007's benchmark score of 100 and up nine points from February 2013. The TSI, tracked every calendar quarter since March 2007, is a derivative of six factors that measure Americans' attitudes toward travel and serves as a predictor of travel behavior during the coming six months.
The rise in the February 2014 TSI resulted from an increase in all six variables from which the overall index is derived: interest in travel, time for travel, personal finances available for travel, affordability of travel, quality of service, and safety of travel. The largest increases were observed in the perceived "affordability of travel" and "personal finances available for travel" suggesting U.S. travelers now feel significantly better about the state of their household finances than just one year ago. This sentiment is consistent with the increase observed in the percentage of U.S. travelers who expect to travel more this year because their household budget improved: 23 percent in February 2014, versus 15 percent in February 2013.
Business Travel Intentions
Business travel intentions have also improved, with nearly one in four (23 percent) of U.S. adults expecting to take at least one business trip now through August 2014 - up three points from February 2013, and the highest level since this metric was first reported in travelhorizons™ in February 2009. On average, business travelers expect to take three business trips with professional development or training being the most frequently cited purpose.
* Denotes a statistically significant difference from previous waves.
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travelhorizons™ is a quarterly survey of Americans' travel intentions viewed through the lens of emerging economic, social and political developments. This iteration of the nationally representative survey of 1,930 pre-qualified adults was conducted from February 1-7, 2014. Statistical estimates are subject to an error interval of +/- 3 percent at the 95 percent level of confidence.
MMGY Global is an integrated marketing firm that specializes in serving clients in the travel, hospitality, and entertainment industries. The award-winning agency provides clients with strategic and creative solutions in all marketing channels, serving many of the world's premier travel and tourism brands. MMGY Global also authors the acclaimed Portrait of American Travelers™ and Portrait of Digital Travelers™ that reveal the travel habits, preferences and intentions of these segments of the population of U.S. travelers - revealing proprietary market insights the guide the agency's strategic recommendations. For more information, visit www.mmgyglobal.com.
Contact: Ashley Norman
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