Recent research from Destination Analysts indicates that the high costs of travel and personal finance situations are affecting travelers and their travel plans.
Nearly half of American travelers say that the expense of travel has kept them from taking as many trips as they would have liked in the last six months.
In addition, 40 percent say their financial situation has kept them from traveling more than desired. Airfare, safety concerns and work also are deterrents to travel.
An upcoming recession is also a reason for Americans to be more careful with their money this report also says, and that includes money for travel.
The number of Americans who feel like now is the right time to spend money on travel has reached a post-pandemic low of 22 percent.
The good news is that 53 percent of travelers still say that travel is a budget priority.
Despite worries about finances and more careful consideration of travel budgets, Americans are still enthusiastic about travel for 2023, with similar levels of excitement as seen this time last year.
More than three-quarters of American travelers already have a trip planned in the next several months.
Story courtesy Visit NC NewsLink, a weekly e-newsletter from the Economic Development Partnership of North Carolina. NewsLink provides information to nearly 4,800 tourism industry leaders, media and government representatives across the state. It distributes valuable information on Visit NC’s marketing and promotional efforts, tourism-related research, state, national and international trends, media leads, updates on conferences and events, and more.