Small Inn and Bed and Breakfast Industry Articles

Published on: February 22, 2008

A recent survey conducted on behalf of AIG Travel Guard found that Americans are still planning to travel in 2008, but may be altering their trips to cut costs. A recent nationwide survey of over 300 American travelers who booked at least one leisure trip in 2007, conducted by RUF Strategic Solutions on behalf of AIG Travel Guard, found that, in spite of the weak economy, 72 percent of those polled said that they are not cutting back on the amount of leisure trips they are taking in 2008. Furthermore, 53 percent of those surveyed are not planning to cut back on the quality or length of their trips this year. While many American travelers are not cutting back on the amount of trips they plan to take, the survey did find that that 47 percent of travelers polled do plan to alter the quality of leisure trips they are planning for 2008 in an effort to save money. Twenty-two percent of those polled say they plan to eat at less expensive restaurants, followed by 17.2 percent who say they will travel closer to home.

Sixteen percent of those polled say they will stay at a less expensive hotel than in the past, while over 10 percent state that they will give up staying at a hotel in favor of visiting friends or family. Furthermore, of those travelers polled, 75 percent stated that the weak American dollar/exchange rate is their greatest concern as it relates to their 2008 travel plans. However, when asked what impact the exchange rate has on their travel plans, 36 percent stated they plan to travel internationally the same as in past years. 29 percent of those polled are still planning international travel, but not to Europe; while 13 percent are considering "emerging" destinations, such as South America and Eastern Europe in an effort to save money. Only 25 percent of those polled plan to limit their travel plans to domestic destinations this year. Ranking second to the exchange rate on the list of travel concerns for 2008 was the rising cost of fuel, however, 56 percent of those surveyed stated that rising gas prices will not have an impact on their travel behavior. Twenty-six percent stated that if prices continue to rise they will consider taking fewer vacations. Only 3.6 percent said they would stop traveling altogether.

 If Americans receive the much talked about tax rebate this year, 30 percent of those polled stated they will use it to pay for a vacation this year or in the future, illustrating that travel and leisure is still top of mind for many Americans, even despite the current state of the economy.