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11/04/2022

Updates 11/04/2022: Ohio's Travel Industry and Current Travel Research

THOUGH SPECIFIC FACTORS STILL IMPACT TRAVEL, AMERICANS ARE MAKING PLANS TO TRAVEL THIS HOLIDAY SEASON

Key findings from Longwoods International, fielded Oct. 26:

  • Americans with travel plans in the next six months is up 2% from August. 92% of travelers say they plan to travel in the next six months.
  • There are still three factors that will greatly determine decisions for travel in the next six months:
    • 14% say COVID-19 greatly impacts their decision to travel.
    • 27% say their financial situation greatly impacts their decision to travel.
    • 26% say the cost of transportation greatly impacts they decision to travel.
  • For those influenced by fuel prices:
    • 32% say they are reducing the number of trips they are taking. Whereas in September, 27% reported this.
    • 31% say they are choosing destinations closer to home. Whereas in September, 29% reported this.
  • With holiday travel around the corner, American travelers reported what they plan to participate in:
    • 70% plan to visit friend/relatives.
    • 60% plan to go shopping.
    • 47% plan to see holiday lights.
    • 25% plan to attend and festival/fair.
  • As for remote work and travel plans over the next 12 – 24 months:
    • 10% said they plan to work remotely, away from home, in another U.S location. This percent is up 2% from September.
    • 9% said they plan to work remotely in various locations. This percent is up 2% from September.
    • However, 57% said they do not plan to work remotely, away from home.

NEW FINDINGS FROM DELOITTE HOLIDAY TRAVEL SURVEY – WILL AMERICANS TRAVEL THIS HOLIDAY SEASON?

Findings from Deloitte Insights, with the survey taking place Sept. 6 – 14:

  • 31% reported they plan to take at least one trip during the 2022 holiday season. Within that 31%:
    • Americans reported they want to reconnect with family and friends.
    • Were looking to rest and relaxation.
    • Need a getaway.
    • Are doing regular holiday travels.
    • Plan to spend time with their significant other.
  • However, in 2021, 42% of Americans were traveling over the holidays (between Thanksgiving – mid January). Reasons for this decrease include:
    • 37% say financial concerns.
    • 30% say they prefer to spend on other things.
    • 24% have no destination in mind.
    • 18% are concerned about COVID-19 and other diseases.
  • Older Americans are more likely to avoid travel due to health reasons whereas younger Americans are unable to travel due to difficulty taking time off work and are holding off for a bigger trip in 2023.
    • For ages 18-34, 41% say they are traveling during the holiday season.
    • For ages 35-54, 32% say they are traveling during the holiday season.
    • For ages 55+, 22% say they are traveling during the holiday season.
  • About 1 in 4 travelers intend to lug the laptop and work remotely during the holiday season.
  • Travelers under 55 are 306x more likely to plan to work over their trips.
  • As for percent of ages who plan to work remotely over their trips:
    • 37% of Americans 18-34 say they plan to work remotely during their trip.
    • 27% of Americans ages 35-54 say they plan to work remotely during their trip.
    • 9% of Americans 55+ say they plan to work remotely during their trip.

Additional Market and Industry Updates

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