Summer Travel Bounces Back as Americans Plan to Spend $86.4 Billion in 2011
Despite concern over high gas prices, improving economic conditions and a pent up demand for travel are moving Americans to spend nearly $16 billion more on summer travel in 2011 than they did in 2010. This is according to a survey released today by global travel assistance company Mondial Assistance USA and its Access America brand of travel insurance. Nearly one half (45%) of Americans say they’re confident (30% very/15% somewhat) that they’ll take a summer vacation this year, up 5 points from last year, and up 10 points in the last two years. In all, Americans plan to spend $86.4 billion on summer vacations in 2011.
Not only are more Americans intending to travel on vacation this summer, but those that are anticipate spending more this year. The average family intends to spend $1,704 this year; up from the $1,567 those who were confident they’d travel last year anticipated spending. This represents an increase of 9% over last year.
With more Americans confident they’ll travel this summer, and with those who intend to travel expecting to spend more than last year, the overall projected spend on vacations this summer is up 22% this year over last year, rising to $86.4 billion.
The rest of this content is for registered users only.
Login now or Register Free Here for full access to all articles, reader offers, competitions, groups and forums.
