U.S. Consumers may be spending less at the malls, and it may be to save up for a vacation according to preliminary information on early trip planners. From Bermuda and the Bahamas to Orlando, FL and to the Pacific Rim, travelers are making more time for vacations in 2014.
There are many stats showing a strong travel surge by U.S. consumers in the coming year(s). Globally, international tourism was up 5% in 2013, according to the United Nations World Tourism Organization. UNWTO also predicts an increase of an additional 4 to 4.5% in 2014.
Additionally, an American Express Spending & Saving Tracker report released earlier this year confirmed an increasing number of Americans are planning more leisure travel in 2014 than they did in 2013.
RECORD U.S. TRAVELER SENTIMENT
Leisure travel intentions among U.S. adults are also strengthening, rising to their highest level since 2007 according to the February 2014 Travelhorizons survey conducted by MMGY Global. More than 6 in 10 U.S. adults (64%) expect to take at least one leisure trip between now and August 2014, which is seven points higher than recorded in February 2013 (57%). This data suggests that spring and summer leisure travel demand should be strong.
In other positive news for the travel industry, MMGY Global's overall Traveler Sentiment Indext (TSI) has risen to its highest level since the index was first published in March of 2007. The TSI now stands at 106 - six points higher than March 2007's benchmark score of 100 and up nine points from February 2013. The largest increases were observed in the perceived "affordability of travel" and "personal finances available for travel," suggesting that U.S. travelers may be feeling significantly better about the state of their household finances than about one year ago.
At the 2014 Travel & Adventure Shows, exhibitors just needed to look at the aisles to see the marked increase in attendance at each record breaking show to witness this new travel enthusiasm.
A vast majority of our exhibitors mentioned a definitive increase in attendee activity, interest and yes, BOOKINGS with this year's show cycle. Our thousands of show surveys also confirmed the jump in consumer sentiment and is primarily attributed to travelers' positive feelings about having enough money and time to take pleasure trips. People are starting, once again, to take bigger, more extravagant vacations.
Sarah Gavin, a travel expert with online booking company Expedia, told CNBC on Thursday that "people are planning slightly longer summer vacations than last year." For people in major U.S. markets searching for summer travel, the top destinations are currently Cancun and Los Cabos, Mexico, Las Vegas, Orlando, Punta Cana, Dominican Republic, Seattle, Los Angeles, Miami, San Francisco and San Juan, Puerto Rico.
Gain also stated that travelers from the U.S. are looking to make more trips to Europe and Asia this summer. With the Asia trips (mainly Thailand, China, the Philippines and Taiwan) likely due for a 4% price drop over last year, the European vacations appear to be catching up to pent-up demand left over from the recession, she said.
TRAVEL & ADVENTURE SHOW CYCLE A RECORD BREAKER
All of these stats are again confirmed by the Travel & Adventure Shows which saw a combined 29% growth in exhibit participation series wide, with each show setting record attendance.
All in all, beginning with Dallas and ending with San Diego, together we welcomed over 113,500 season travel enthusiasts! Our LA, Chicago and Washington DC shows are now numbers 1, 2 and 3 respectively in terms of attendance. With the expansion to the entire Long Beach Convention Center and the upsizing of many exhibitors, our LA show will be the largest of every measure in the country.
SAN DIEGO LAUNCH OUR BEST EVER
Over 12,800 people attended the inaugural San Diego event much to our and our exhibitor's delight.
Once again, brave exhibitors faced packed aisles and from the minute the show opened, exhibitors were in sales mode fielding informed questions and booking trips from our most affluent audience to date.
Like all of our events, the San Diego attendees were enthusiastic, ready to travel and on top of that, a wonderfully friendly crowd. Over 57% had household incomes over $100k, 68% were over age 45 and over 58% spend over $5,000 annually on travel. Along with those outstanding numbers, an astonishing 28% of San Diego attendees spend over $10,000 on travel!
So, we bring the show season to a close with another record event and our best launch in over ten years. But more importantly is the outlook of success we see for our over 1,200 customers. We are humbled by the many compliments we received post show season from many of you, and the overwhelming re-sign we have seen for the next show cycle.
Many exhibitors are adding new markets, supporting our Philadelphia show (which incidentally is already the largest show ever in the Philly metro area) and increasing booth size to handle more traveler interactions for next year.
From the entire Travel & Adventure Show Team - a big thank you to all of our loyal and growing number of exhibitors! We work hard for you year round and we are pleased that we have helped so many travelers connect with you this season.
We have enjoyed seeing you this past show season and look forward to meeting you at various industry events, offices and meetings over the off season.
Please accept our well wishes and our hope for strong bookings!
As always, thanks for reading.
See you in October at the Dallas Convention Center where the adventure continues!
John Golicz, CEO
