While evidence accumulates that Americans are cutting their travel spending, it doesn’t mean they’ll be total stick-in-the-muds. In Ipsos polling conducted in December and January, 81 percent of respondents said they plan to take at least one leisure journey this year.
But among those who expect to travel, 52 percent said the current economy “will cause them to reduce their overall leisure trips and/or expenditures.” The chief way leisure travelers will reduce their outlays is by spending less on meals and entertainment.
Among people who travel for business, meanwhile, 39 percent said they’ll be going less often and/or spending less money. For them, the main cost-cutting method will be to stay at cheaper hotels.