Plan to travel during the coming holiday season? You’re going to have plenty of company. The American Express Spending & Saving Tracker projects three in 10 Americans plan to get out of town – and a full 42 percent of them intend to spend more in the process than they did last year.
American Express says 36 percent of those holiday travelers plan to fly – almost a third more than did last year when 26 percent took wing. More travelers intend to dine out too – 31 percent during the 2011 holiday season as compared to 20 percent in 2010.
More interesting revelations from the Spending & Saving Tracker survey:
- 21 percent are taking longer trips.
- 19 percent are staying in better accommodations.
- 17 percent intend to travel with more people.
- 12 percent are choosing a more expensive destination.
- 6 percent are flying business class or first class, up in the pointy end of the airplane.
So, what’s up here? Why fly more and spend more on holiday travel when the economy’s so purportedly rotten? “It’s all about making memories,” says Clarie Bennett, senior vice president and general manager of American Express Travel. In a prepared statement, Bennett says, “No matter where consumers choose to do, there is a clear interest in getting more out of travel.
Get down into the nitty-gritty of the data and a mindset begins to emerge. Consider, when asked how they would spend an extra $500, were it available, nearly a quarter of consumers—24 percent to be precise—say they’d use the money to experience something new during their trip. Eighteen percent say they’d extend the length of their stay.
No surprise when it comes to this final finding: Forty percent of consumers say budget still trumps all other considerations when it comes to making holiday travel plans.
So how about you? Do you plan to travel this holiday season? If you do, do you plan to stay longer, do something different and—just maybe—spend a bit more? Let us know.
Story by Jerry Chandler
(Image: Joel Bedford)
