Americans are Traveling Again: So Long, Recession!
Traveling is becoming more popular again among Americans, even in the great recession that has swept the country in recent years. There was a point in time when citizens chose to stay in and work for long hours on end, due to the hard economic times that plagued and hindered them from doing some of the things that they wanted.
People needed to save money, and the job market was hit with such ferocity, forcing even multinational companies to lay off its employees. It was truly a dark time in the United States, and people wondered if it would ever end.
Fortunately, according to PhoCusWright, 2013 saw a significant four-percent leap of adults over 18 that traveled for leisure, finally topping out at 65% at the end of the year. Of course, this is a very desirable change for the US leisure travel market, especially the hotels and accommodation sectors, because as the amount of people who travel increase, so does the sectors’ earnings.
People who travel spend more on the different accommodation choices not only throughout the country, but even overseas. This means that they get to spend their hard-earned money on varying vacation expenses, which indeed spells something good for the travel market. PhoCusWright’s senior analyst Marcello Gasdia even reports that a lot of Americans have already planned for more expensive vacation trips for the following years.
Thanks to the baby boomers, there is now a very substantial development in leisure travel in the country. The years following the recession saw a drop in this specific demographic niche in the travel marketplace, leading to several problems faced by the whole market.
However, during the past year alone, their numbers have risen up to about 60%, which is a very good thing indeed. Aside from this, a lot of other sectors in the travel industry have also improved.
There was a significant spike in the travel behaviors of US travelers, like air and lodging consumption, the choice of more international destinations, and spending more money, all of which contribute to the betterment of the industry.