Economic Downturn & Travel – New Survey Released

US TRAVELERS AFFECTED BY THE ECONOMIC DOWNTURN, WHILE INTERNATIONAL TRAVELERS HAVE NOT CHANGED THEIR TRAVEL PLANS SIGNIFICANTLY

Mountain View, December 2, 2008. GeckoGo (http://www.geckogo.com), the fastest growing source of unique travel content, and World Nomads (http://www.worldnomads.com), world leaders in low cost travel insurance, today announced the results of their recent travel survey of 1162 travelers worldwide.

Global consumers are worried about the economy… but are going ahead with their travel plans
While 43% of survey respondents answered that they felt “terrible” about the current economic environment, only 15% have canceled their trips.  Fifty-one percent of travelers plan to fly the same amount this holiday season, with 22% planning to travel more than last year.

Americans worried by economy more than rest of world… travel plans affected to a higher degree
68% of Americans felt “terrible” about the current economic environment, and 22% have canceled their trips.   40% of Americans plan to fly less this holiday season, and 44% plan to spend less money on their next vacation.

Travel insurance is considered a necessity by many and is the least affected by the economy
In fact, 10% of respondents are more likely to purchase travel insurance due to the economic situation.  Only 7% of respondents would cut travel insurance before other expenses such as accommodation, activities, trip length, and food.    Sixty-three percent of consumers purchase travel insurance at least sometimes when they travel, and 32% purchase it all the time.  42% consider emergency medical and dental coverage to be the most important reason for purchasing travel insurance.

Travelers will cut back on accommodations first
27% said they would reduce accommodation spending first, with 24% saving by staying in more modest accommodations.

Most are still traveling but are looking for additional cost saving measures
30% will spend more time travel planning as a means of saving money, while 31% plan to travel during off-peak season.  Fifty-one percent of Americans say “looking for travel deals” is a key way to save money.

Holidays are for family time
Sixty-six percent of respondents usually visit their relatives over the holiday season, with 70% planning to see their relatives the same amount as last year, and another 13% more than last year.

Spending plans stay the same for majority
Sixty-eight percent of all respondents plan to spend at least the same amount on their next vacation, compared to 46% of Americans.

Money-saving travel tips from GeckoGo travelers

  • Ask locals for shopping tips
  • Eat where the locals eat
  • Use public transportation
  • Stay at a hotel that includes complimentary breakfast
  • Stay 2-3 days in one place to get better accommodation rates
  • Splurge at lunch, go light during dinner meals