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Monthly survey reveals 60% of travelers cautious due to recession concerns

June 28, 2023 | Summit County Council, Summit County Commission and Boards, Summit County, Utah


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Monthly survey reveals 60% of travelers cautious due to recession concerns
The Summit County Council convened on June 28, 2023, to discuss various pressing issues affecting the community, with a particular focus on the impact of economic factors on travel and tourism.

The meeting began with a presentation on recent traveler research conducted by a local company, which has been tracking traveler sentiments since the onset of the COVID-19 pandemic. Currently in its 74th wave, the research indicates that 12% of American travelers still harbor concerns about the coronavirus, influencing their travel decisions for the next six months. Financial concerns are also significant, with 24% of respondents indicating that their personal financial situations will affect their travel plans.

Transportation costs emerged as another critical factor, with 20% of travelers noting that these costs are impacting their decisions. Gas prices specifically were highlighted, with 23% of respondents expressing that rising prices are a deterrent to travel. Inflation continues to be a major concern, affecting 28% of those surveyed, while 25% cited airfare prices as a significant factor in their travel decisions.

The discussion also revealed that nearly 30% of travelers feel less financially secure compared to the previous year, and the sentiment regarding leisure travel spending has declined, with only 30% believing it is a good time to spend on travel. The looming threat of a recession is palpable, as almost 60% of respondents anticipate that it will affect their travel plans, leading to increased caution in spending, reported by 65% of those surveyed.

The survey further indicated that nearly 50% of consumers feel that high travel prices have prevented them from traveling in the past month, and 33% have canceled trips due to inflation in consumer prices.

The meeting concluded with a recognition of the broader economic landscape and its implications for the community, emphasizing the need for ongoing monitoring of these trends as they relate to local tourism and economic health. The council plans to continue discussions on strategies to support the community in navigating these challenges.

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