Economic Updates

The Small Business Administration released more information about the Shuttered Venues Operators Grant this week. Read more in our dedicated article here.

Travel Research Round-Up for this Week

What travelers are thinking, doing and needing changes constantly. To help you make sense of the research findings each week, the Ohio Travel Associations provides this one-page summary.

View Research Round-Up Here

Travel Sentiment 

TRAVELERS REPORT NEW FACTORS WHEN DECIDING WHERE THEY WILL TRAVEL IN THE NEXT SIX MONTHS; COVID-19 STILL INFLUENCING TRAVEL

Key findings from Longwoods International fielded Mar. 17: 

• 87% of travelers reported having travel plans in the next six months. In March of 2020, this was the same number reported.
• The factors that travelers feel are important when deciding which destinations to visit in the next six months include:
  • 50% said the destination has clear health and safety protocols.
  • 44% said the destination has a mask wearing requirement and social distancing policies.
  • 39% said there are no travel restrictions, like travel quarantines, for the destination.
  • 36% said feeling welcomed into the destination is important.
  • 35% said dining location are open in the destination.
  • 35% said attractions being open at the destination is important.
• When asked what factors impact traveler’s decision to travel in the next six months:
  • 33% reported COVID-19 greatly impacting this decision vs. 13% who say it has no impact at all.
  • 17% reported concerns about their personal financial situation greatly impacts this decision vs. 23% who say it has no impact at all.
  • 16% said the transportation cost greatly impacts their decision vs. 19% who said it has no impact at all.
• 57% of travelers reported they would change their travel plans due to COVID-19 compared to 61% who said they would on March 3.
• COVID-19 still influences travel plans over the next six months:
  • 31% reported choosing destinations they can drive to as opposed to fly.
  • 30% said they are reducing the number of trips they are taking.
  • 27% said they are traveling within the U.S. instead of internationally.
  • 15% are choosing rural destinations over cities.
  • 13% said they are choosing not to travel at all.
  • 10% are canceling all trips.
  • 23% said COVID-19 is not influencing their travel plans.
• The COVID-19 vaccine continues to impact travel plans.
  • 37% of travelers reported they will wait to travel until they receive the vaccine vs. 33% reported the vaccine having no impact on their travel plans.
  • 20% of travelers reported they will wait until the majority of people at the destination of interest are vaccinated.
  • 19% will wait until their friends and family are vaccinated.
  • 18% reported waiting to travel until the majority of their community are vaccinated.
  • 17% reported waiting to travel until the majority of Americans are vaccinated.

AMERICANS WORRY WHAT THE PANDEMIC WILL DO TO OUR ECONOMY; TRAVELERS REPORT WHAT THEY ARE LIKELY TO SPEND THEIR STIMULUS CHECK ON

Key findings from Destination Analyst fielded Mar. 22: 

• The proportion of American travelers that feel the pandemic situation will get worse in the U.S. in the next month rose over 7% to 18.5% after hitting a record low last week of 11.1%.
• This week, 79.6% of Americans are highly concerned about the pandemic impact on our national economy. This may also play a role in their feelings towards tourism in their own communities.
• 46.1% of Americans travelers who report they would be happy to see an ad promoting tourism in their town, 64.8% report the most common reason being to help local businesses.
• 38.3% of those who have or are expecting a stimulus check say they are likely to spend a portion of it on leisure travel. This is more prevalent among millennial age travelers who are as likely as boomer age travels to spend their stimulus money on travel.
• A record high of 73.8% of American travelers did some travel planning and dreaming in the last week.
  • Over one-third of American travelers reported daydreaming about vacationing.
  • Nearly 30% researched travel ideas online.
  • 15.8% said they made a travel reservation in the last week. Of the 15.8%, 57% booked a hotel room while only 42.1% bought airline tickets.
• Many Americans do expect a longer-term impact from the pandemic on their travel.
  • Nearly 60% agree that the pandemic has changed their outlook on life overall.
  • 46.9% agree they will put more effort into visiting places on their travel bucket list in the next few years.
• When asked if the pandemic has changed their opinions about the types of destinations they want to visit for leisure in the future:
  • 41.8% said yes to at least some degree.
  • 52.2% said they will be visiting beaches, national parks and other outdoor destinations more as a result of the pandemic.
  • 44.6% report they are less likely to visit urban, entertainment and theme park-focused destinations in the next few years due to the pandemic.
  • About four-in-ten American travelers expect they will be sticking closer to home and spending less on their leisure travel in the coming years.