Despite Inflation, Travel Market Continues to Benefit from Strong Pent Up Demand

ElsewhereNorth America

Aug 11. A new study found that inflation is having a minimal impact on travel, with 79 percent of respondents saying the current cost issues won’t cause them to cancel their plans.

According to the Global Rescue Summer 2022 Traveler Safety and Sentiment Survey, 21 percent of travelers plan to spend more time and money on vacation to make up for the pent-up demand caused by the coronavirus pandemic.

While incidents of staff shortages among pilots, attendants, gate agents and ground crews have impacted flight schedules, 58 percent of travelers said they have not been affected by the challenges.

“Travelers are sending a clear message,” Global Rescue CEO Dan Richards said. “They are eager to regain their family vacations, adventure travels and business trips.”

Another 20 percent of respondents reported they changed an international trip and replaced it with a less expensive trip, while 28 percent changed a domestic vacation and replaced it with a less expensive one.

As for those trying to save money, the study found that 21 percent said they would travel for fewer days, 19 percent plan to fly on less expensive tickets and 15 percent will stay at less costly lodging.

Source: Travel Pulse

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