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NerdWallet's recent Travel Study reveals that 70% of Americans plan leisure travel this year, despite ongoing COVID-19 impacts. Younger generations (60% of Gen Z and 58% of millennials) express higher travel intent than older cohorts. Comfort levels vary, with 62% preferring COVID precautions while 15% feel nothing would enhance their comfort. The pandemic has altered travel habits, with 56% of respondents noting changes, including avoiding high-risk areas. There’s increased demand for travel-related services as consumers adjust their spending habits for upcoming vacations.
Positive
70% of Americans plan leisure travel in the next 12 months, indicating strong demand.
Younger generations show high travel intent, with 60% of Gen Z and 58% of millennials planning multiple trips.
Consumer confidence in travel is growing, with many willing to invest more in vacations.
Negative
51% of Americans not traveling cite COVID-related concerns, indicating potential barriers to growth.
43% of Americans had travel plans impacted by COVID exposures in 2021, reflecting ongoing travel uncertainties.
New study finds that COVID-19 precautions are important to most travelers as Americans plan vacations this year.
SAN FRANCISCO--(BUSINESS WIRE)--
NerdWallet, Inc. (Nasdaq: NRDS), a website and app that provides consumers and small businesses with trustworthy financial guidance, found that 70% of Americans are planning leisure travel in the next 12 months. NerdWallet’s annual Travel Study, published today, found that while many Americans are making travel plans for 2022, the COVID-19 pandemic still impacts their travel decisions.
The report, which includes a survey conducted online by The Harris Poll on behalf of NerdWallet among over 2,000 U.S. adults, found that younger generations of Americans are planning to travel more than older generations. More than half of Generation Z (60% - ages 18-25) and millennials (58% - ages 26-41) are planning more than one leisure trip in the next 12 months, compared to 41% of Generation X members (ages 42-57) and 40% of baby boomers (ages 58-76).
Regardless of their travel plans, 62% of Americans say they would feel more comfortable traveling if certain COVID-19 precautions take place. However, comfort levels vary: 15% of Americans say that nothing would make them feel more comfortable traveling right now, while 23% say they already feel comfortable traveling.
More than half of Americans (56%) say the way they travel has changed since the onset of the COVID-19 pandemic. Of those who have changed the way they travel, nearly a third (32%) say they only travel to destinations that are low-risk for COVID-19, while 28% say they stopped going on international trips and only travel domestically.
“Two years into the pandemic, consumers are more comfortable in their ability to make travel decisions that feel right for them, leading to skyrocketing demand for hotels, rental cars and airlines,” said Sara Rathner, a travel expert at NerdWallet. “Now more than ever, it’s important for travelers to build flexibility into their vacation plans and travel budgets. Those who feel comfortable traveling should plan to spend more time and money on their vacations this year as crowds of out-of-practice travelers learn to navigate pandemic-era travel staples like increased wait times, trip insurance, rapid tests and quarantine expenses.”
Additional findings from the study include:
Many Americans want to take multiple trips: Americans are planning to take two trips, on average, requiring a flight or hotel stay in the next 12 months.
Some Americans still aren’t traveling: About half of Americans who don’t plan on traveling for leisure in the next 12 months (51%) say they aren’t doing so for a COVID-related reason, including concerns over COVID variants (37%) or case rates at their desired destination (19%).
Stockpiling points and miles: More than three-quarters of Americans who have a travel rewards credit card (77%) are saving their points and miles. About 23% of travel credit card holders say they are doing so because they don’t feel safe traveling yet, and a similar portion (23%) are saving their points/miles for a luxury or special occasion trip.
COVID-19 exposures and positive test results impacted travel plans in 2021: More than 2 in 5 Americans who had travel plans in 2021 (43%) say that their travel plans were impacted because they or someone in their household tested positive for or were possibly exposed to COVID-19. Roughly 1 in 4 who had travel plans in 2021 (24%) say they canceled their trip as a result, and a similar proportion (25%) paid with rewards, cash, or credit to extend their trip in order to quarantine.
This survey was conducted online within the United States by The Harris Poll on behalf of NerdWalletfrom Feb. 3-7, 2022, among 2,012 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact press@nerdwallet.com.
About NerdWallet
NerdWallet (Nasdaq: NRDS) is on a mission to provide clarity for all of life's financial decisions. As a personal finance website and app, NerdWallet provides consumers with trustworthy and knowledgeable financial information so they can make smart money moves. From finding the best credit card to buying a house, NerdWallet is there to help consumers make financial decisions with confidence. Consumers have free access to our expert content and comparison shopping marketplaces, plus a data-driven app, which helps them stay on top of their finances and save time and money, giving them the freedom to do more. NerdWallet is available for consumers in the US, UK and Canada. For more information, visit NerdWallet.com.
"NerdWallet" is a trademark of NerdWallet Inc. All rights reserved. Other names and trademarks used herein may be trademarks of their respective owners.
Disclaimer: The information used and statements of fact made are not guarantees, warranties or representations as to their completeness or accuracy. Use or reliance on this information is at your own risk and does not constitute information associated with the present or future performance of NerdWallet or any of its affiliates or subsidiaries. NerdWallet disclaims, expressly and impliedly, all warranties of any kind, including those of merchantability and fitness for a particular purpose or whether the information is accurate or reliable or free of errors. Statements that are not historical facts are forward-looking statements that involve risks and uncertainties as indicated by words such as “believes,” “expects,” “estimates,” “may,” “will,” “should” or “anticipates” or similar expressions. These forward-looking statements may materially differ from NerdWallet’s presentation of information to analysts and its actual operational and financial results.
