More Americans have summer travel plans this year than in 2010,
despite rising gas prices, according to an American Express Co.
(AXP) survey.
About 59% of Americans are planning to travel this summer, up
from 51% a year ago, according to Amex's spending and saving
tracker. The travel industry has enjoyed a recovery of late as
consumers have opened their wallets for certain types of
discretionary spending. The report indicated many travelers are
getting more ambitious, but still taking measures not to pay too
much.
"Staycations, popularized during the recession, are falling by
the wayside as consumers go beachside instead," said Claire
Bennett, senior vice president and general manager of American
Express travel.
Vacationing consumers plan to take an average of two week-long
vacations, spending an average of $1,200 a person, and three
weekend-getaways, spending $300.
Nearly 70% of those planning to travel said they'll go with
their immediate families, up from 45% in 2010. Girlfriend getaways
and so-called "man"cations are also on the rise, according to the
survey.
Many Americans still have savings in mind, with more than 40%
saying getting a good deal on hotels, rental cars and flights is
the most important factor in their trip planning. About 38% said
they plan to drive instead of fly in order to cut costs, while 24%
said they'll save by picking less-expensive destinations.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;
matthew.jarzemsky@dowjones.com