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: oTravelers vary considerably in their economic outlook, with those from emerging markets far more optimistic about the global economy oWhile 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 oDespite the lack of confidence many travelers feel about the global economy, U.S. hoteliers remain confident about future profitability oTravelers 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 oOnly one-third of U.S. travelers are optimistic about the economy oAmericans are the least likely to spend more on travel in 2014 compared to other regions o61 percent of global travelers and 65 percent of U.S. travelers plan to spend the same amount or less in 2014 oTravelers 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 o85 percent of global travelers and 91 percent of U.S. travelers plan to travel in their home market in 2013 oCompared to 2013, almost one-third of Americans are planning to take more trips in 2014: o22 percent of U.S. travelers are planning more short vacations o8 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 oMany travelers, including 46 percent of Americans, will fund all or part of their vacation with credit oTravelers in emerging markets are more willing to use credit Sacrifices Help Make Trips Possible o88 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% oFor some travelers, vacations take priority over child-related commitments: o7 percent of global travelers and 11 percent in the U.S. cut back on child care costs o7 percent of global travelers and 10 percent in the U.S. cut back on child-related activities o5 percent of global travelers and 8 percent of U.S. travelers cut back on children's education Hoteliers are Confident About Future Profitability oFour out of five U.S. hoteliers are optimistic about profitability in 2014 oOnly one-third of U.S. travelers are optimistic about the economy in 2014 oHotel 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 o65 percent of U.S. hoteliers plan to increase room rates in 2013, an increase of 16 percent compared to 2012 o10 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 oGlobally, 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, firstname.lastname@example.org
TripAdvisor Global Study Reveals Americans Are Planning To Travel More Domestically But Steady Their Spending In 2014
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