Higher gasoline prices and the slowly growing economy will have an impact on the travel plans of about 21% of American adults, according to a survey conducted by the non-profit Travel Industry Association of America (TIA).
About 14% of the 1,000 U.S. adults surveyed said they will travel less or not at all this summer because of rising fuel prices, according to the TIA, which represents all components of the U.S. travel industry.
That 14% is equivalent to about 19.2 million travelers.
Another 7%, or 10.3 million adults, said they plan to travel less or not at all due to their concerns about the condition of the nation’s economy, the TIA reports.
“The impact of a slow-growth economy and increasing fuel prices is playing a role in the travel plans of many U.S. consumers,” said Dr. Suzanne Cook, senior vice president of research at the TIA. “Most Americans, however, indicate that they will continue to travel this summer, but some may simplify and modify their travel plans to fit new economic realities.”
However, 20%, or 27.7 million adults, plan to travel more this summer than they did during the summer fo 2000, the TIA survey found.