A report from well-known travel data firm Destination Analysts was disseminated to us by the state of Hawaii late today. “The State of the American Traveler” provides insights into what’s ahead for Hawaii travel. See if you agree that we travel as much as ever but are more focused on costs.
The findings from Destination Analysts was based on traveler data collected last month from 4,000 people.
“Even with tighter budgets, Americans don’t appear to be sacrificing their travel. Instead, many anticipate spending differently on their trips, making compromises on food and dining experiences and shopping purchases over shortening trip days or even scrimping on lodging.” — Destination Analysts.
Are people really visiting Hawaii with a $3,787 annual travel budget?
We aren’t sure about this, but the report says, “Expected travel budgets for the next year are currently averaging $3,787. While an increase compared to May’s ten-month low of $3,719, it still remains far below the $4,318 average of the first four months of 2023.”
“With the cost of Hawaii accommodations, dining, and airfare at all-time highs, we are still determining how this even applies to Hawaii vacations. It isn’t that it can’t be done, but it is just unlikely for a Hawaii vacation to fit into this annual budgetary amount.” — BOH.
The point is that even with the concerns about the US economy and high travel costs, most Americans are determined to keep traveling no matter what. The report says that the average number of vacations in the next year is reported to be 3.4, which is a 3-year high.
Economy paradigm returns post revenge travel.
Destination Analysts report that those who said they would travel within the next 3 months indicate, by a 60% majority, that they will compromise on some parts of their trip to save money. That’s precisely why we wrote about Nico’s Restaurant in Honolulu yesterday. A telltale sign is that just 16% of those surveyed said that economizing in any way on their vacation would be unlikely.
A better financial outlook ahead? Visitors are “cautiously optimistic.”
Travel analysts said that the expectation of recession is lower than in their last survey from May. At the same time, those who say they will be careful due to economic concerns are down somewhat, from 62.6% to 60.5%.
Visitors become accustomed to higher travel costs.
Our take is that visitors are becoming somewhat accustomed to ridiculously high travel costs. The report states that concerns about too-expensive costs have dropped from 37% to 32.8% since May, with airfare concerns also coming down from 28.9% to 25.2%. Overall, they report that those who were deterred from traveling dropped.
What are you willing to give up on your Hawaii vacation?
Since we don’t as a country appear poised to curtail travel, and that includes Hawaii travel in particular as far as we’re concerned. Of those surveyed, 48.9% said they’d compromise on food/dining, while 42.1 said they’d curtail shopping while traveling. And another 36% said they’d take shorter vacations, while only 29.5% said they’d scrip on accommodations. Fascinating! Regarding how visitors might save on food, 46.7% said it would be done through preparing their meals and snacks, and about an equal number said they’d do it via more budget restaurant choices.Destination-Analysts-07.2023-PUBLIC