Rising Gas Prices Concern for Travel Industry, US Travel Association Says
With the price of crude oil continuing to rise, travelers could alter vacation plans to control summer vacation costs and business travelers are likely to travel less, according to a new survey by the U.S. Travel Association.
For vacationers planning to travel by car this summer, more than half (54%) said that an increase in gas prices would affect their summer leisure travel plans, and almost half (44%) said the increase would cause them to take fewer trips, according to a U.S. Travel Association survey.
Roughly one-quarter (26.8%) of business travelers using a car said that an increase in gas prices would affect summer business plans, with almost one-fifth (19%) reporting that they would take fewer trips.
“If travelers are spending more on gas, they are spending less on hotels, attractions, shopping and restaurants, which could have a negative impact on our overall economy,” said Roger Dow, president and CEO of the U.S. Travel Association. “We need to find solutions that reduce the burden which rising gas prices are placing on everyday travelers.”
In another aspect of the survey, almost half of all travelers (43%) said their vote for a presidential or congressional candidate this fall would be influenced by higher gas/oil prices.
An executive summary and methodology of the survey is available here.
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