DESPITE ECONOMIC DOWNTURN, TRAVEL PLANS ARE UNCHANGED FOR MOST
Mountain View, December 1, 2008. GeckoGo (http://www.geckogo.com), the fastest growing source of unique travel content, and World Nomads (http: //www.worldnomads.com), world leaders in low cost travel insurance today announced the results of their recent travel survey of 1162 travellers worldwide.
Global consumers are worried about the economy…but are going ahead with their travel plans
While 43% of survey respondents answered that they felt “terrible†about the current economic environment, only 15% have cancelled their trips. Fifty-one percent of travellers plan to fly about the same amount this holiday season, with 22% planning to travel more than last year.
Travel insurance is considered a necessity by many and is the least affected by the economy
In fact, 10% of respondents are more likely to purchase travel insurance due to the economic situation. Only 7% of respondents would cut back on travel insurance before other expenses such as accommodation, activities, trip length, and food. Sixty-three percent of consumers purchase travel insurance at least sometimes when they travel, and 32% purchase it all the time. 42% consider emergency medical and dental coverage to be the most important reason for purchasing travel insurance.
Travellers will save money by cutting back on accommodations first
27% said accommodation spending was where they would try to save on first, with 24% saying they will stay in more modest accommodations. 30% will spend more time doing travel planning as a means of saving money, while 31% plan to travel during off-peak season.
Holidays are for family time
Sixty-six percent of respondents usually visit their relatives over the holiday season, with 70% planning to see their relatives the same amount as last year, and another 13% more than last year.
Exchange rates are not a major consideration for travel
Seventy-nine percent of travellers have not avoided travel to specific countries because of unfavourable exchange rates
Spending plans stay the same for majority
Sixty-eight percent plan to spend the same amount or more money on their next vacation.
Travel deals are important
While spending and choice of travel destination do not seem to be significantly changed by the economic downturn, travellers are changing their travel planning behaviour by travelling more during off-peak seasons, spending more time planning and researching, and looking for more travel deals.
Money-saving travel tips from GeckoGo travellers
• Ask locals for shopping tips
• Eat where the locals eat
• Maximize use of public transportation
• Stay at a hotel that includes breakfast, or stay in a hostel
• Stay 2-3 days in one place to get better accommodation rates
• Use supermarkets for snacks
• Splurge at lunch, go light during dinner meals
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