Travel Intentions Rise to Highest Level Since 2007
March 14, 2014 9:20am
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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Contact: Ashley Norman
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