The U.S. travel industry is in full recovery mode. In September, 57% of Americans traveled, 10 percentage points higher than the same time last year. While we saw a protracted summer period last year, with travel instances declining after the July high, this year the summer season is more drawn out, with travel participation increasing by 4 percentage points compared to July.
It is clear that while we hear a lot about the possible impact of inflation and price hikes on travel behavior, so far Americans have found the desire and means to continue traveling. Fears for Covid-19 are waning, although cancellations and postponements remain relatively high and actually increased in September.
The main issue facing the industry right now is the economic climate, exacerbated by high prices for travel products. The majority of Americans have experienced higher prices than previous years for their travel, and two-thirds have changed their travel plans accordingly.
Remote work remains popular, although there is a slow shift visible from fully remote working to more hybrid models. We are seeing a growing trend in remote workers taking more and longer trips as they enjoy the added flexibility their jobs offer.
What You'll Learn From This Report
- Travel incidences, January 2020 - September 2022
- September 2022 travel highlights
- Consumer attitudes to prices, and the impact on travel plans
- Remote work trend and its impact on travel and mobility
- Consumer sentiment and economic outlook
- The falling impact of Covid-19 on travel