National survey shows $7 billion projected increase on summer vacations
- June 21, 2010
More people plan to take a vacation this summer. In fact, nearly six million more American households plan to take off this compared with last year. That wanderlust will boost summer vacation spending by nearly $7 billion, according to a survey released Monday by Mondial Assistance.
The Richmond-based global travel assistance company polled 1,000 Americans in early June about upcoming and past vacation plans. The findings show that 40 percent of respondents are confident that they will take a vacation in the next three months, up from 35 percent who took a summer vacation in 2009. The five percent increase translates into nearly $7 billion. “More people taking vacations this summer is a great sign for the travel industry and the economy,” Daniel Durazo, director of communications, said in a statement.
The number one reason for taking a vacation, given by 42 percent of the respondents, was the need to relieve stress and get away. A special occasion, such as weddings or anniversaries, was the second most cited reason at 26 percent.
The poll found that men (46 percent) are more likely than women (34 percent) to express confidence about taking vacation time this summer. Families with incomes earning more than $75,000 per year (52 percent) also were also more confident about going on vacation.
As for destination, four in ten, or 43 percent will opt to put their toes in the sand by going to the ocean or beach. Altogether, Americans plan to spend $76 billion on summer vacations.