by Donald Wood
Last updated: 9:16 AM ET, Thu August 11, 2022
A new study found that inflation is having a minimal impact on travel, with 79 percent of respondents saying the current cost issues won't cause them to cancel their plans.
According to the Global Rescue Summer 2022 Traveler Safety and Sentiment Survey, 21 percent of travelers plan to spend more time and money on vacation to make up for the pent-up demand caused by the coronavirus pandemic.
While incidents of staff shortages among pilots, attendants, gate agents and ground crews have impacted flight schedules, 58 percent of travelers said they have not been affected by the challenges.
"Travelers are sending a clear message," Global Rescue CEO Dan Richards said. "They are eager to regain their family vacations, adventure travels and business trips."
"By overwhelming margins, they are pressing forward with international and domestic travel despite rising costs and airline staff shortages," Richards continued. "They are confident they'll be able to travel and return home."
Another 20 percent of respondents reported they changed an international trip and replaced it with a less expensive trip, while 28 percent changed a domestic vacation and replaced it with a less expensive one.
As for those trying to save money, the study found that 21 percent said they would travel for fewer days, 19 percent plan to fly on less expensive tickets and 15 percent will stay at less costly lodging.
"I continue to see strong interest in bookings of both all-inclusive resorts and cruises," Scott Lara of TheCruiseGenius.com said. "The so-called "revenge travel" is in full swing. I feel that 2022 will be a great year for travel advisors."
Travel demand may still be strong, but spending habits are changing due to inflation. A report from Mastercard last week indicated that "runaway inflation" was hurting the spending habits of lower-income customers, including travel purchases.
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