It is no surprise that U.S. consumers traveled less in 2009 and those that did travel spent significantly less while on the road. Now that the economy has stabilized, have travelers recovered or are they still shell shocked?
“We haven’t seen increased optimism when it comes to the U.S. traveler,” explains PhoCusWright’s director, research, Carroll Rheem. “Consumers are still cautious about planning more trips and spending more money. It looks like this will be a restrained recovery for consumers.”
Findings from PhoCusWright’s PhoCusWright’s Consumer Travel Report Second Edition show that, much like the initial pullback in travel spending, recovery will vary depending on the consumer’s age. Older travelers pulled back on travel sooner than other travelers. And while younger travelers did pull back on travel during the recession, they still travel more often than older travelers.
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