Are We Going to TraveI in Summer 2020

Amid a national health emergency that has left millions of Americans out of work and worrying about their health insurance and employment, concerns about widespread illnesses in places like Italy and China have brought anxieties to American travelers causing 48% to cancel their yearly summer vacation plans due to covid19.
Of those, 46% lost money due to cancellation fees and nonrefundable deposits. The average person list about $855 dollars, 59% said losses were from airline tickets and 44% were from hotel reservations. Americans that canceled their Airbnb, 22%, forfeited their nonrefundable fees. Other losses came from miscellaneous vacation related activities such as tours and entertainment, 21% of those booking cruises lost their deposits.

The covid19 pandemic has affected consumers attitude towards the travel industry. Of those surveyed only 15% had a positive view of the industry, 43% had negative sentiments about the industry and will change their future behavior. Some consumers (55%) said they are less likely to book a cruise and 52% saying they are fearful of traveling abroad..
One in six Americans said that they will wait a full year to travel overseas, 35% anticipated a wait of six months before traveling anywhere, 29% said they will wait under six months past covid19 and 20% are undecided…

Although, health and safety worries will no doubt stay with the American consumers, even after the pandemic is over, financial concerns are likely to be the top priority for consumers. Of these respondents, 20% said they’re keeping their savings for future expenses, 27% said they are keeping their vacation funds and adding to it as usual…

Depending on how long the lockdown lasts, US citizens will flock to book a vacation once the threat has passed. The majority of respondents said they will go on a “celebration vacation” once the covid19 comes under control…
Respondents, also, said that they would proceed more carefully and purchase travel insurance in the future. A minority said that they would feel less likely to do so.

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