A new Harris Poll is gauging the effects of the coronavirus outbreak and its impact on businesses now and in the future.
For traveler advisors who are wondering what the future will hold, this new wave of polling has some encouraging news.
The latest results suggest that there will be pent-up demand and travel advisors should prepare for that. The survey also indicates that this is not going to be the only wave of volatility and that business owners should plan for further consumer volatility.
The warmer months combined with an eagerness to return to shopping could spur some 'Revenge Spending.'
According to Harris Poll data taken March 28-30, nearly 25 percent of respondents are planning on going on vacation or traveling once things return to normal and businesses reopen.
Younger travelers will be among the first to return to the market, according to the Harris Poll. Among Gen-Z, 31 percent will plan on buying new clothes and 27 percent are planning to go on vacation or traveling.
This mirrors an Upgraded Points poll that shows that younger travelers will be ready to reenter the travel marketplace sooner than older generations and confirms an earlier wave of this same Harris Poll that found that 20 percent of respondents said that they would stay in a hotel again after about two or three months.
While there will be a lot of pent up demand, Americans will likely not be ready to break the bank with their spending.
The survey found that nearly three in five Americans will keep more money in savings to prepare for something like this in the future and one in three will be stockpiling goods in preparation for a similar event.
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