consumer sentiment
The Economic Rollercoaster
Aaron Szyf | October 16, 2023
By Aaron Szyf It seems like we’re on an economic rollercoaster right now and the big question is when we get off. When does inflation cool? We dig into the latest data to help determine if a soft landing really is where we’re heading. After renewed expectations of a recession in recent weeks, as summarized in our earlier blog, it now seems like the prospects of a “soft landing” have increased. Shocking jobs data: Last Friday, BLS surprised economists when it announced that the economy added 336,000 jobs in September, way above the 170,000 increase that was expected and above the monthly average of 267,000 over the past ye...
Travel Disruption and Increasing Financial Barriers Stall Consumer Sentiment, but Wanderlust Remains
STR | August 18, 2022
Debate continues on the extent to which global tourism recovery will be impinged by increasing inflationary pressures and potential travel disruption. Thus far, any potential impact has not been visible in the hospitality sector. The STR Market Recovery Monitor, based on data for the week ending 30 July 2022, showed that more than 90% of North American markets and around 80% of global markets were achieving revenue per available room (RevPAR) that was 80% or above 2019 levels when adjusted for inflation. However, the expected seasonal slowing of peak leisure demand season is beginning and intersecting with significant macroeconomic hea...
48% of Americans Canceled Summer Travel Due to Coronavirus Concerns
ValuePenguin.com | April 27, 2020
Nearly half of those with an upcoming trip lost money on nonrefundable costs, averaging more than $800. NEW YORK, April 27, 2020 -- Uncertainty surrounding the coronavirus pandemic has caused nearly half (48%) of Americans to cancel their summer travel plans for this year leading to more distress for the travel industry. Additionally, 1 in 6 Americans also said they would wait a full year before traveling again. Unfortunately, canceled travel isn't the only thing causing trouble for the travel industry. In a recent survey by ValuePenguin, 43% of Americans said they feel more negatively about the industry as a whole and will change the...
How COVID-19 Has Affected Intentions to Travel and Perceptions in Key Global Markets
STR | April 22, 2020
COVID-19’s impact on consumer opinion and behavior seemed to evolve daily throughout March, especially with the World Health Organization (WHO) declaring a global pandemic on the 11th. To understand the effects on sentiment and future international travel plans, STR captured the views of travelers across 4 key markets: the U.S., Canada, U.K. and Australia. These four English-speaking markets make up a significant portion of global tourism receipts—20% or US$338 billion. Given these countries’ importance in the global travel industry—collectively, they account for some 462 million consumers—we examined March 2020 reactions to the ...
As Consumers and Travel Suppliers Work Through Crisis, Most Travelers Satisfied With Industry Response So Far
J.D. Power | March 26, 2020
60% of travelers agree hoteliers, cruise lines and airlines have demonstrated concern for the health and safety of the traveling public. More than half of the travelers surveyed believe travel suppliers are meeting or exceeding expectations on cancellation policies. A majority of travelers (65%) believe that travel suppliers have provided a good level of information about cleaning procedures. As travelers and travel suppliers struggle to make sense of what impact the coronavirus crisis is having on their personal and professional lives, a pulse survey conducted by J.D. Power finds that the travel industry is genera...
