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TripAdvisor Global Study Reveals Americans Are Planning To Travel More Domestically But Steady Their Spending In 2014



    TripAdvisor Global Study Reveals Americans Are Planning To Travel More
                Domestically But Steady Their Spending In 2014

PR Newswire

NEWTON, Mass., Sept. 10, 2013

NEWTON, Mass., Sept. 10, 2013 /PRNewswire/ -- TripAdvisor®, the world's
largest travel site *, today announced the results of the world's largest
accommodation and traveler survey¹ – the  TripBarometer by TripAdvisor. The
survey reveals the leading travel and hospitality industry trends, according
to over 19,000 travelers and over 10,000 accommodation business owners around
the world. The study is conducted twice a year, and the results are analyzed
independently by research firm Edelman Berland.

(Photo: http://photos.prnewswire.com/prnh/20130910/NE76433-INFO)

(Logo: http://photos.prnewswire.com/prnh/20080902/TRIPADVISORLOGO)

Themes from this season's TripBarometer include:

  o Travelers vary considerably in their economic outlook, with those from
    emerging markets far more optimistic about the global economy
  o While U.S. travelers aren't planning to increase travel budgets next year,
    they are planning to travel more frequently and closer to home to discover
    the sights America has to offer 
  o Despite the lack of confidence many travelers feel about the global
    economy, U.S. hoteliers remain confident about future profitability
  o Travelers are using credit to fund their holidays, particularly in
    emerging markets

"The TripBarometer has revealed useful insights into the travel economy based
on varied consumer confidence and industry perspectives," said Brooke
Ferencsik, director of communications at TripAdvisor. "While the majority of
Americans aren't planning to increase their travel budget, U.S. consumers are
committed to taking more trips this year, which is good news for the travel
industry." 

Travelers Plan to Lower their Budgets

  o Only one-third of U.S. travelers are optimistic about the economy
  o Americans are the least likely to spend more on travel in 2014 compared to
    other regions
  o 61 percent of global travelers and 65 percent of U.S. travelers plan to
    spend the same amount or less in 2014
  o Travelers in emerging markets are the ones who plan to spend more

Region          Percentage of respondents who plan to spend more on travel in
                2014
Africa          59%
South America   48%
Central America 47%
Middle East     46%
Asia            42%
Australasia     38%
Europe          36%
North America   35%
United States   35%

 

Trips are Shorter Yet More Frequent

  o 85 percent of global travelers and 91 percent of U.S. travelers plan to
    travel in their home market in 2013
  o Compared to 2013, almost one-third of Americans are planning to take more
    trips in 2014:  

       o 22 percent of U.S. travelers are planning more short vacations
       o 8 percent of U.S. travelers have plans to take longer vacations

Reason         Percentage of respondents giving the reason as to why they plan
               to travel in their home market this year
               Global                                    U.S.
Discover their 42%                                        42%
own country
Visit family   29%                                        38%
Save money     27%                                        39%

 

Credit is Helping to Fund Travel

  o Many travelers, including 46 percent of Americans, will fund all or part
    of their vacation with credit
  o Travelers in emerging markets are more willing to use credit

Sacrifices Help Make Trips Possible

  o 88 percent of American travelers say it's worth making sacrifices to make
    memories

Factor            Percentage of respondents who will make sacrifices on the
                  following factors in order to save money for travel
                  Global                                          
                  U.S.                  
Nights out        51%                                               54%
Meals out         43%                                               48%
Clothes, etc.     39%                                               42%
Cigarettes        31%                                               33%
Gifts             28%                                               29%
Home improvements 19%                                               23%
Charity           16%                                               18%
Groceries         13%                                               15%

 

  o For some travelers, vacations take priority over child-related
    commitments:

       o 7 percent of global travelers and 11 percent in the U.S. cut back on
         child care costs
       o 7 percent of global travelers and 10 percent in the U.S. cut back on
         child-related activities
       o 5 percent of global travelers and 8 percent of U.S. travelers cut
         back on children's education

Hoteliers are Confident About Future Profitability

  o Four out of five U.S. hoteliers are optimistic about profitability in 2014
  o Only one-third of U.S. travelers are optimistic about the economy in 2014
  o Hotel industry confidence is highest in the Americas, Asia and Middle East

Region          Percentage of hoteliers who feel optimistic about making a
                profit in 2014
Central America 79%
United States   77%
North America   74%
Asia            74%
South America   72%
Middle East     72%
Africa          70%
Australasia     67%
Europe          56%

 

Hoteliers' Optimism is Driving Investment

  o 65 percent of U.S. hoteliers plan to increase room rates in 2013, an
    increase of 16 percent compared to 2012
  o 10 percent of U.S. hoteliers plan to open a new property in 2014, with 93
    percent of those hoteliers planning to open new properties in North
    America
  o Globally, hoteliers in Asia, Europe and South America are leading the way
    – with 34 percent, 21 percent and 10 percent respectively making plans for
    new development

Target area     Percentage of hoteliers spending increased revenue on the
                following target areas
                Global                                    U.S.
Small scale     47%                                         42%
renovations
Marketing spend 47%                                         37%
Staff training  38%                                         34%
Large scale     27%                                         26%
renovations
Hiring staff    22%                                         17%
Back office     22%                                         13%

 

¹Methodology: The research was commissioned by TripAdvisor and conducted by
Edelman Berland, an independent market research firm, conducted via online
survey in June and July 2013. Survey respondents were 10,469 accommodation
business owners and 19,692 18+ adults who have booked travel online and taken
at least one trip in the past year. Respondents were from Argentina,
Australia, Brazil, Canada, Caribbean, China, Egypt, France, Germany, Greece,
India, Indonesia, Italy, Japan, Malaysia, Mexico, New Zealand, Russia, South
Africa, South Korea, Spain, Thailand, Turkey, UAE, UK and USA.

About TripAdvisor
TripAdvisor^® is the world's largest travel site*, enabling travelers to plan
and have the perfect trip. TripAdvisor offers trusted advice from real
travelers and a wide variety of travel choices and planning features with
seamless links to booking tools. TripAdvisor branded sites make up the largest
travel community in the world, with more than 260 million unique monthly
visitors**, and more than 100 million reviews and opinions covering more than
2.7 million accommodations, restaurants and attractions. The sites operate in
30 countries worldwide, including China under daodao.com. TripAdvisor also
includes TripAdvisor for Business, a dedicated division that provides the
tourism industry access to millions of monthly TripAdvisor visitors.

TripAdvisor, Inc. (NASDAQ: TRIP) manages and operates websites under 20 other
travel media brands: www.airfarewatchdog.com, www.bookingbuddy.com,
www.cruisecritic.com, www.everytrail.com, www.familyvacationcritic.com,
www.flipkey.com, www.gateguru.com, www.holidaylettings.co.uk,
www.holidaywatchdog.com, www.independenttraveler.com, www.jetsetter.com,
www.niumba.com,  www.onetime.com,  www.seatguru.com, www.smartertravel.com,
www.tingo.com, www.travelpod.com, www.virtualtourist.com,
www.whereivebeen.com, and www.kuxun.cn. 

*Source: comScore Media Metrix for TripAdvisor Sites, worldwide, June 2013

**Source: Google Analytics, worldwide data, July 2013

©2013 TripAdvisor, Inc. All rights reserved. 

SOURCE TripAdvisor

Website: http://www.tripadvisor.com
Contact: Alison Croyle, (617) 670-6737, acroyle@tripadvisor.com
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