Good sign: More Americans planning to get away this summer
May 18, 2010
A new study suggests that more Americans are planning on going somewhere on vacation this summer, staying longer, and spending more money. [Los Angeles Times]
The study, released Monday by American Express, reports that of those Americans who plan to hit the road this summer, 67 percent will spend more money than they did last year and 74 percent will take the same length of vacation, or longer.
Analysts believe the findings suggests a loosening of the purse strings on vacation budgets, compared to the low-budget “staycations” of the last 18 months. Recent increases in both hotel bookings and airline reservations also underscore the cautious optimism.
There is an expected increase of about 202 million airline passengers this summer. Hotel occupancy should nudge up by around 2. 2 percent, with the average daily room rate of $95.
“The summer vacation, and particularly the family vacation, is alive and well this year,” said Audrey Hendry, vice-president for American Express Travel.