American travelers feeling financial strain

Be it inflation, rising gas prices or other economic concerns, some financial strain is beginning to be evident in American travel sentiment, according to Destination Analysts’ latest coronavirus travel sentiment index report.

While 41.2% of American travelers still agree now is a good–or very good–time to spend on travel and 61.5% continue to say that travel will be a high budget priority over the next three months, other highlights from the report are:

  • The percentage of American travelers with at least one leisure trip planned in the next 12 months dropped six points in the last month to 87.2%.
  • The percentage of American travelers who feel that a year from now their household will be better off financially, dropped more than five points in the last month. It is now at 39.2%.
  • American travelers who feel that their household will be financially better off a year from now has dropped to 39.2% from 45.1% at the end of January.
  • Expectations to travel more (35.9%) and spend more on travel (36.7%) this year compared to last year have both dipped.
  • The amount that Americans estimate they will spend on their travel this year fell to $3,788 from $4,283 reported the week of Feb. 14.
  • 58.5% of American travelers say travel prices are too high right now.
  • One-third of American travelers (33.6%) report that high travel prices have kept them from traveling in the past month.