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Travel Industry Trends |
Sunday September 7th, 2008 |
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Summer vacations run on empty |
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High gas prices may be stifling the traditional summer vacation.
Only 39.8% of consumers plan to take a vacation within the next six months, a 28-year low, the Conference Board said Tuesday.
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That's the fourth consecutive decline measured by the organization, which asks the question every other month.
"It's possible that travel is falling victim to rising gas prices and rising costs overall," says Lynn Franco, director of the firm's Consumer Research Center.
A new USA TODAY/Gallup Poll supports the notion that high gas prices are crimping vacations. One-third of respondents in the survey of 1,000 adults taken Friday through Sunday said they are changing summer vacation plans because of higher gas prices.
Of those changing plans, 37% said they would reduce the number of trips normally taken, while 26% said they're canceling plans or simply can't afford to vacation. Some 23% will take shorter trips.
Gasoline prices have slipped from recent highs but are still far above where they were a year ago. The nationwide average price for a gallon of regular gasoline was $2.86 Tuesday, up 65 cents from a year ago, according to travel club AAA.
External Source - For the complete article click here
Source - USATODAY
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