Maybe, according to the latest survey by Access America. Asked if they believed this was a good time to find “great travel deals” a majority of respondents — 40 percent — said they “somewhat” agreed. Only about a third of the respondents strongly agreed.
While the poll shows most Americans think bargains are out there, a closer look at the data suggests that travelers in the know may be holding on for prices to drop further.
Also, just over 20 percent of Americans think there are no bargains at all.
That’s not just bad news for the the travel industry. It’s awful.
But the number I fixated on was the 42 percent of those polled who said they “somewhat agree” that this is a good time to find a bargain. That’s the highest response rate on the table. They had traveled within the last three months, which indicates they are experienced travelers.
If they’re sitting on the sidelines, waiting for prices to drop some more, then we could be in for a long, difficult second half of 2009.
If I were making a bet, I’d say the fall fare sales and hotel specials will be unbelievable. There’s already some evidence that rates are sliding as summer winds down.
In other words, hang in there. When it comes to bargains, the best may be yet to come.
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Hi Christopher,
I think deals can always be found if you look hard enough… and are happy enough to be flexible to an extent, but agree that the 2nd half of 2009 will be an interesting time. Sorry for the shameless promotion, but at twavel.com we are working on getting Twitter-specific deals from holiday companies, and allowing people to vote on the best. At this stage we’re quite early in development and are looking to regionalise deals, and specify much more closely the types of deal as we go on but you get the idea from the home page. We’re hoping if companies start ‘competing’ their deals this will encourage better deals for the consumer.
I agree that there are some good deals available and I travel often. That being said, we personally chose to cancel a long weekend (5 day) trip in July to San Francisco and Las Vegas as the airfares were “okay”, but not spectacular. We found some very attractive rates at some nice hotels, but the 2, 3 or 4 day car rentals were unusually high. So, after considering the hassle of airport lines & security, planes PACKED with unruly passengers and the constant barking of flight attendants about staying seated, etc., we cancelled our plans and stayed home. While we are thankful to be employed in this economy, travel “ain’t what it used to be” and maybe never will be. So, while we missed this “getaway”, and looked forward to the destination, the hassle of getting to and from persuaded us to take a pass right now…maybe we will try again in September. Best regards to all.
Hi Chris,
Thanks for the post about Access America’s Vacation Confidence Index.
What I found most interesting about the survey is that a very large majority of Americans polled (67%) believe that vacations are important or very important, but nearly a quarter (23%) of those who place a premium on vacations are not planning to take one this year, presumably due to fears about the economy.
Those folks who value a vacation but are not planning to take one represent America’s “Vacation Deficit” and pent-up demand for vacation travel.
As you mention, the survey found that a large majority of Americans (72%) feel that now is a great time to find travel deals and the survey lists what deals Americans find most attractive. I think the opportunity here is for travel suppliers to offer consumers the deals Americans want most in order to get people traveling and reduce the Vacation Deficit.
Your readers can find out more about the Vacation Confidence Index at http://www.accessamerica.com/aa/Press.aspx?PressID=1992
Best,
Daniel Durazo
Director, Communications
Mondial Assistance USA
I have not seen spectacular bargains on the two trips I am booking this summer. One is a Priceline hotel in PA, for the same weekend every year. I booked it at a slightly higher rate than in the past two years. The other is a trip to Asia, similar to trips I took in 2003 and 2005. This year’s trip will cost 30% more than either of those trips unless a huge sale comes along. I’m not saying prices are high. I bargained hard on those previous trips and got good deals. But the deals are not any better now than they were then. I keep hearing this is such a wonderful time to travel, but I think it’s not all that much different.