SOURCE: PhoCusWright Inc.
NEW YORK, NY--(Marketwired - May 8, 2014) - Americans are finally coming out of their great recession hibernation and spending on travel again, according to an upcoming report (www.phocuswright.com/products/4422) by travel industry research authority PhoCusWright. U.S. travel incidence, or the percent of adults 18 and over who traveled for leisure, jumped four percentage points in 2013 -- topping out at 65%. This is a big turnaround in spending behavior among U.S. consumers, who had been booking fewer trips in the 2010 to 2013 time frame.
"Millions of U.S. adults who skipped out on vacations over the past few years finally felt confident enough to book in 2013," says PhoCusWright senior analyst, Marcello Gasdia. "This is a much welcomed improvement for the U.S. leisure travel market. There is no doubt that travelers are feeling more confident these days. Many are already planning expensive vacation schedules for 2014."
Baby boomers drove the recent improvement in leisure travel incidence. Nearly half of this age group went missing from the travel marketplace in the years following the recession. But this hard hit demographic is quickly regaining their footing, with roughly 60% taking leisure trips this past year.
A broad range of general travel behaviors improved in 2013 -- not just incidence. U.S. travelers took more trips, spent more and visited more international destinations. Air and lodging consumption also jumped, all proving that consumers are leaving the recession in the rearview mirror.
PhoCusWright's U.S. Consumer Travel Report Sixth Edition (scheduled to publish May 9, 2014) provides a longitudinal and demographic analysis into consumer leisure travel behavior, including key metrics such as travel incidence, trip frequency and duration; travel products including air, lodging, car rental and cruise; and more.
Understand and leverage the key trends that are driving the behavior of today's travelers with PhoCusWright's U.S. Consumer Travel Report Sixth Edition.
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PhoCusWright, the travel industry research authority, fosters smart strategic planning and tactical decision-making by delivering primary research on the evolving dynamics that influence travel, tourism and hospitality distribution. To complement its research in North America, Europe and Asia, PhoCusWright partners with and produces several high-profile conferences around the world.