Yet another survey shows that gas prices would have to rise astronomically to prevent Americans from taking vacations.
Six of ten Americans who are currently planning a trip with their car, truck or SUV this summer will not change their travel plans even with additional increases in the price of gas, according to the travelhorizons survey sponsored by the Travel Industry Association (TIA) and Ypartnership.
One of six of those expecting a tax rebate as part of the economic stimulus package approved by Congress is planning to spend their rebate on an overnight or day trip for leisure purposes, according to the same nationally representative survey of 2,233 adults conducted during the month of April.
Roger Dow, TIA's president and CEO, said the survey results indicating $12.1 billion of the tax rebates will be spent on trips underscores travel's importance to the overall economy.
Among the 41% of respondents who stated their plans would change if gas prices rise further, the greatest percentage would simply drive a shorter distance to their vacation destination.
Other expected outcomes include people taking fewer trips and spending less money on other aspects of vacations.
Report by David Wilkening
Tuesday, May 20, 2008
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