American Outbound Travel Aspirations Defy Inflation Concerns

01-09-23

The increase in travel intentions was a standout aspect of an otherwise lackluster report. This resilience underscores the enduring appeal of travel even amid broader economic fluctuations.

More than one-in-five Americans plan on vacationing in a foreign country in the near future, the highest share ever recorded, even as overall consumer confidence was dragged down by worsening inflation expectations in August.

Conference Board data published on Tuesday revealed that 21.8% of Americans intend on visiting a foreign country in the next six months, up from 17.7% in June. The economic research organization has asked households every other month since 1978 about their travel plans as part of its Consumer Confidence Index survey.

At 45.9%, the data showed the share of Americans with vacation plans of any sort at the second highest since the coronavirus pandemic decimated the tourism industry in early 2020.