Have People Stopped Making Travel Decisions Based on Price?
The state of travel for both business and leisure is still largely in flux as reopening unfolds. With that in mind, Sarah Dandashy, host of MarketScale’s Say Yes to Travel, answered a few questions about the state of the industry and what we can expect as 2021 marches on.
In this soundbite, she shared her thoughts on pricing’s impact on travel decisions.
“Have people stopped making travel decisions based on price? It’s a great question. Certainly, if you have been trying to plan a trip this summer, you probably realize, wow, travel is getting pretty expensive.
Now, arguably, over the past year, maybe you haven’t traveled as much. You saved up a little bit, but price will always play into travel decisions.
Now, what we are seeing is, per a recent study by American Express, about 33% of Americans are actually spending more on their travel experiences now, mainly because they have saved up for it.
So, certainly, travel is more expensive. But, you know, people are taking that into consideration as they are planning their travel and moving ahead. So, no, people have not stopped taking into consideration pricing or pricing when it comes to travel. That will always be part of the equation.”
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